"Blockchain technology has been widely predicted to radially transform the banking sector. Yet this simply has not happened. To seek answers as to why blockchain has not been more widely adopted, we employ semi-structured interviews with banking industry experts employed in major international banking institutions including both banks, leading Fintech providers of direct services to banks, and supra-national regulators in both emerging and developed markets. Our sample includes very senior banking professionals including bank CEOs and founders. Applying theories of technology diffusion, our preliminary findings, based on interviews with industry experts, reveal some insightful reasons why banks have been reluctant to adopt blockchain such as a lack of clear usage case."