Blockchain may not change the world but it will make an impact in areas of banking such as syndicated lending, trade finance, settlement and clearing, writes Brian Caplen. To some, blockchain is as revolutionary as the internet. To others it is overhyped. Despite all the furore around the cryptocurrencies using blockchain, they currently account for less than 0.5% of global money supply and an even smaller fraction of daily foreign exchange turnover. They also have very limited transaction capacity.