Deutsche Bank – Blockchain is Coming Sooner Than You Think

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Blockchain technology will be widely used in capital markets within six years, completely changing the settlement model for securities, according to a recent Deutsche report.

“Blockchain may completely change the settlement model for securities processing, creating a utility around securities processing and cash management,” says Deutsche Bank’s Rhydderch. “The entire back end would become a far more efficient, far less costly, more accurate and less risk-prone function. This has an obvious knock-on effect on the cost of service provision. In the administration space, Blockchain may not be quite the disruptor. It’s more in the functional utility elements within the securities processing settlement chain. In that context, it may be totally revolutionary.”

“I think the banking industry is quite slow to accept change,” says the head of investment at a Northern European sovereign institution, who expects active Blockchain in the current web of legacy infrastructure. They’re trying to determine how it can be deployed in a way that works, given ongoing data protection and security concerns. They’re also trying to figure out how to transition from the older infrastructure to this entirely new system.”

Of some 200 financial market participants queried by the report, three quarters see Blockchain technology being widely used within the next three to six years, while half report that this could help the industry cope with the risk of system failure and market disruption.

A whopping 87 per cent think that Blockchain could completely change the settlement model for securities therefore securities clearing and settlement will become more efficient, driving down costs. And almost two thirds expect the introduction of Blockchain technology to produce savings of between 11-25 per cent.

See report here. 

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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