A recent survey conducted by Deutsche Bank revealed 87% of market participants believe blockchain technology will completely change the settlement process for securities.
The survey, also conducted in partnership with FT Remark, polled 200 financial industry participants on regulation, emerging markets and blockchain.
It found two-thirds of respondents expect the introduction of blockchain to produce substantial savings, possibly up to 25%.
Three-quarters of respondents agreed the technology, although in its early stages of deployment, will be widely used within the next three to six years.
Deutsche Bank found that 48% of those surveyed argued that blockchain technology could also help the financial industry cope with the risk of system failures and market disruption.
The survey explained regulation, disruptive technologies like blockchain and a revival of emerging markets are key issues driving the financial market.