It's already clear that most savvy industry leaders have a greater understanding of blockchain technology than was the case a couple of years ago.

This stems from a surge with internal research and development, in partnership with third parties, as blockchain has the potential to be deployed in a variety of use cases.

As the number of Hyperledger pilot projects increased, so has awareness.

It's improved among the project participants and elsewhere in their industries, with competitor companies beginning to consider whether they should seek to gain a competitive advantage from a blockchain deployment.

According to the latest worldwide market study by Juniper Research, blockchain deployments will enable banks to realize savings on cross-border settlement transactions of more than $27 billion by the end of 2030, thereby reducing costs by more than 11 percent per on-chain transaction.

According to the analyst's assessment, financial services firms that integrate blockchain should achieve cost reductions in payment processing and reconciliation, and in treasury operations and compliance.

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