A new survey from Greenwich Associates estimates that finance and technology companies will invest as much as $1bn in blockchain initiatives related to capital markets in 2016.

Greenwich drew on a survey of 134 employees from banks, brokerages, asset managers, exchanges and other services in the finance sector, as well as startups devoted specifically to blockchain applications.

Thirty-two percent of respondents indicated that their companies have as much as $5m set aside for blockchain projects, whereas 15% have at least $2m devoted to the technology.

More details about the survey can be found here.