What Does Blockchain Mean to the Financial Industry?
The world continues to buzz about the significance of blockchain and cryptocurrencies, but reviews are still mixed in the financial industry. Will blockchain really create the disruption pundits predict?
A consensus is emerging: yes, no and maybe – all at once.
In light of the early uncertainty, many financial institutions and other key industry players are walking the fine line between leaning too far forward by investing too soon and getting left behind by not being proactive enough. In short, they want to be on the "leading edge" but not the "bleeding edge" of this emerging technology.
Blockchain looks promising
"Cautiously optimistic" is a phrase heard around financial institutions in relation to the blockchain today. This is due to some promising new use cases showing greater efficiencies in a variety of processes including post-trade settlements, trading assets and exchanging options and other types of derivatives. Industry leaders are also hopeful as they explore potential capabilities and cost-savings with transactions in the global payments world.
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