March 10, 2016 - 18:00
Current Blockchain technology is seen as the next major revolution identified to be as disruptive as the internet and about to shake-up the business world.
The financial services sector is a frontrunner in testing the Blockchains’ potential. Both, start-up entrepreneurs; large financial institutions, and technology companies are searching for killer-applications that leverage Blockchain technology. We can how cryptocurrencies to smart contracts, identity management, international payments and securities trading could all be rebuilt on Blockchain technology. A recent research report from Oliver Wyman and Santander predicts 15 – 20 billion dollars’ worth of potential cost savings annually on the table from 2022. But capital is not the only feature benefitting. Blockchain has the potential to restore the most valuable asset in financial services: Trust. Trust between banks and trust in the banks.
Blockchain is no longer the realm of techies and cryptographers. The world of business has seen its potential benefits. The suits have entered the garage. Recently, the worlds’ largest financial services companies joined forces in the R3CEV consortium to explore Blockchain potential. According to PwC there are about 300 Fintech start-ups working on Blockchain for financial services. Different operating models are emerging: some banks are developing in-house expertise, in consortia or by partnering with expert start-ups.
Join us in this session to discuss which ones are likely to be most successful?
