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(CoinDesk) The global financial services industry spent a combined $1.7 billion on blockchain development in 2017, with institutions having increased their individual budgets for the technology by 67 percent in the same year. According to the survey by Greenwich Associates, 14 percent of the surveyed banking institutions claimed to have already deployed a blockchain solution – more than 50 percent of the executives said implementing the technology “was harder than they expected.”

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