Poll: More than half of US banks consider blockchain and cryptocurrencies to be “secondary tasks”

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According to a survey conducted by the US Federal Reserve, most of the country's banks have transferred developments in the field of cryptocurrencies and blockchain to the status of “secondary tasks”.

The survey involved top finance managers80 major US banks. Of these, 56% said that blockchain products and cryptocurrency services are now considered a “low priority” or even “negligible” for business growth over the next two years. Only 27% of respondents noted that they see such services as “medium important” or with “high priority.” However, within a five-year perspective, 40% of respondents named blockchain products as a medium to high priority.

Some top bank managers emphasizedthat they are actively monitoring the situation on the cryptocurrency market and sentiment among clients. And they will always “adapt” to these sentiments - if a significant part of clients need blockchain services or cryptocurrency trading, then banks will try to provide the appropriate services.

It is worth noting that the survey includedCFOs and department heads at banks that hold about 75% of the total reserves of the US banking system. Interestingly, of these, 46 organizations are purely American, and 34 are international.

Earlier, the US Treasury Department published a document noting that the Central Bank’s digital currencies will increase the stability of commercial banks.