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Blockchain Taking Off in Financial Services in Southeast Asia

Blockchain Taking Off in Financial Services in Southeast Asia

Distributed ledger technology is maturing rapidly within the financial services industry globally and in Southeast Asia. This report captures what IDC understands to be the activities at a national level within the region, covering the use cases, key organizations, and, where possible, expected outcomes of the use of this technology. "Many organizations are not looking at blockchain solutions because of its association with cryptocurrencies, such as Bitcoin, but this is ignoring the fact that this technology is potentially highly disruptive, which means there will be big winners, and big losers too," says Simon Piff, vice president of IDC Asia/Pacific's Blockchain and Security Research. "Although the banking industry appears to be somewhat ahead of other industries, many markets and players within this vertical still have their heads in the sand. Some will regret this stance in the not-too-distant future," he added.

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