In the middle of 2015, research was undertaken on a phenomenon known as blockchain. Bitcoin was well established and growing but the banks were more interested in the ledger that supported that network. There was the nascent Ethereum network and many announcements of new initiatives, companies and consortia such as Digital Asset Holdings, R3 and Hyperledger.Despite the hype about the potential, our research showed the current designs still had ten challenges, which needed to be resolved before there would be a successful, commercially-viable implementation in the Financial Services.