Calling blockchain a “fundamental” shift for the finance industry, a recent report from Cap Gemini suggests that blockchain technology will both slash costs and be a more secure option.
Traditional banks may be rendered obsolete by Bitcoin and blockchain technology, but the reality is that blockchain has the potential to do much more than just support cryptocurrencies. It’s set to revolutionize the financial services sector more broadly thanks to its potential to provide unprecedented transaction security through cryptography.
In this paper, Capgemini looks at blockchain technology and how it can transform financial institutions.
No financial services firm can afford to ignore blockchain technology any longer. In just a few years, a number if blockchain startups have entered the field for financial services and different blockchain platforms are providing competing solutions.
Blockchain technology could lead to a paradigm shift in the financial services industry.
• New non-traditional players threaten to increase the risk of disintermediation.
• Some banks and financial services organizations are already experimenting with cryptocurrency and blockchain.
• A number of financial institutions have expressed the need for help in understanding “the stakes” (aka the potential business impacts) for and against the adoption of blockchain technology.
• The knowledge base for this new technology is not yet fully developed.
• Government regulators in countries around the world are taking quite different approaches to cryptocurrencies, ranging from total prohibition of, to strong support for, its development.
- Huobi Charity Joins Rally with Blockchain Community in Global Fight Against COVID-19 - April 2, 2020
- Binance Officially Absorbs CoinMarketCap in $400 million deal - April 2, 2020
- RealT Tokenises and Sells USD One Million in Real Estate On Ethereum - March 30, 2020
- IOTA Teams Up with Eclipse Foundation to Work on Decentralised Marketplace and Identity Solutions to Help Fight Pandemic - March 30, 2020
- University of Malta Students Develop and Use Blockchain Voting Application - March 30, 2020
- Japan’s Nomura Securities and BOOSTRY Issue First Blockchain Digital Bond Offering - March 30, 2020
- Opera Rolls out Update and Expansion of its Cryptocurrency-Friendly Browser Blockchain Architecture - March 30, 2020
- Hong Kong Bank Partners with Aegis to Focus On Asset Digitalization Using Blockchain Technology - March 30, 2020
- European Union Looking to Blockchain Technology for Defense? - March 30, 2020
- Tech against Corona (COVID-19) – Dutch Enterprise Blockchain Company TYMLEZ Helps Dutch Government - March 29, 2020
- Microsoft Patents Human Activity Mining for Cryptocurrency Systems – Data Generated Based on Body Activity can be Proof-of-Work - March 27, 2020
- Binance Kicks Off $5 Million Coronavirus Relief Campaign and Donates USD $1 Million - March 27, 2020
- Medici Ventures Keiretsu Companies GrainChain and Symbiont Working Together to Expand Global Operations - March 27, 2020
- Blockchain-Fueled Entertainment Platform Ficto Launches Premium Interactive Streaming Network - March 27, 2020
- SettleMint – Belgian blockchain startup raises USD $2.09 Million for Expansion - March 27, 2020
- Exclusive Interview: Bitcoin and Cryptocurrency Leader Michael Terpin Sees Light in The Covid-19 Tunnel - March 26, 2020
- Blockchain Real Estate Project Smartlands Raising Funds on Equity Crowdfunding Platform Seedrs - March 26, 2020
- Cryptocurrency Exchange OKEx Greenlights DEA Trade Token Deapcoin For Its Jobtribe and PlayMining Games - March 26, 2020
- Microasset – The International Blockchain Monetary Reserve Announces $3.48 M In Reserve Funding, New Listing on BiKi Exchange - March 25, 2020
- Social Login – KyberSwap Integrates Torus to Offer Quick and Easy Ethereum Wallet Management - March 25, 2020