Citibank: 74% of surveyed companies are exploring distributed ledger technology and digital assets

ChainCatcher news, Citibank believes that the investments in the digital asset space over the past few years "are now beginning to pay off," but the technology is still in a growth phase. An increasing number of companies are exploring DLT (Distributed Ledger Technology) and digital assets, with this proportion rising from 47% in 2022 to 74% in 2023.

A survey found that despite the collapse of crypto companies, the attention and participation in distributed ledger technology and digital assets are growing. More and more companies are exploring this field.

Citibank pointed out that there are now billions of dollars in value being managed through DLT. The issue lies in the personnel and processes implementing DLT, rather than the technology itself.

The survey found that regulatory uncertainty could hinder future development, especially in North America and Europe. The digital currency sector, including Central Bank Digital Currencies (CBDCs), is growing rapidly. 87% of market participants believe the industry will be "viable" before 2026, up from 72% last year.

Overall, the DLT space is growing faster than the cryptocurrency space. About 87% of custodial service providers are working on DLT and digital assets, but only 25% of asset owners have active projects.

Citibank believes that DLT and digital assets require changes in processes and a reshaping of systems, and companies must be prepared to make significant investments in this area.