Credit Suisse's Head of Digital Market Emmanuel Aidoo said the desire of financial institutions to maintain a "status quo" slows down the adoption of blockchain technology.

In an interview with Business Insider Aido, he noted that banks' reluctance to accept blockchain lies in their culture and has nothing to do with technology immaturity or lack of potential use cases within financial organizations.

However, Aidoo thinks that this year blockhain will show many people how it brings the benefits in terms of cost, while some banks start to mislead it.

In February, global investment banks Credit Suisse and Portuguese Banco Best completed end-to-end transactions based on blockchain technology. Last year, Credit Suisse and the Dutch ING successfully completed the first € 25 million live transaction with the 3R’s Corda platform blockchain.

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