It is quite essential that banks and other related organizations, go through these trials and tribulations now, as it is only then they will gain the first-hand knowledge by having their hands dirtied, so to speak, and the learning will surface in this black box. Proofs of Concept help them assess the level of complexity these transactions entail, how prepared they are in adopting the new technology and what it would mean to the end customer and at what cost. Having understood the fundamentals, the next logical steps would be to forge partnerships with similarly interested parties to get going to apply to real life.
But if we go by what we see, there is a rush to protect the learning and some of the consortium banks operate in isolation in mini groups. There are couple of things that explain why this emergence of protection mentality.
For more on this story visit the following link: Private POCs, Permissioned Ledgers and Patents in Blockchain