Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Blockchain Set to Transform the Financial Services Market

28.09.2016

Report "Blockchain Technology and the Financial Services Market: State-of-the-art Analysis" from Infosys Consulting and HHL Leipzig Graduate School of Management highlights disruption created by blockchain pilot projects.

Infosys Consulting, in partnership with HHL Leipzig Graduate School of Management, has recently published its latest white paper, Blockchain Technology and the Financial Services Market: State-of-the-art Analysis.


Report "Blockchain Technology and the Financial Services Market: State-of-the-art Analysis" from Infosys Consulting and HHL Leipzig Graduate School of Management.

An increasing number of banks are realizing the urgency of the blockchain technology and are exploring ways of using it. Drawing from a broad range of statements from experts from both Infosys Consulting and institutions from various sectors of the industry, the new white paper provides a high-level business-case viewpoint on the potentials and limitations of the blockchain technology for various areas of the financial services industry.

Key findings include:

  • Blockchain may decrease costs, increase security, transparency and efficiency in various financial markets. Most promising use cases were identiifed in cross-border payment transactions, trade finance and in the Over the Counter (OTC) market
  • Trusted third parties and clearing houses could face strong competition due to the advantages of distributed ledgers over existing centralised ones
  • Despite a lack of regulation, blockchain will become widespread in financial services in the next 5-10 years with 47 per cent of financial institutions evaluating it
  • Collaboration between banks and the fintech sector is essential for improving and popularising blockchain

Quotes:
Jun.-Prof. Dr. Vivek K. Velamur, HHL’s Schumpeter Junior Professor for Entrepreneurship and Technology Transfer:
“Blockchain can reduce the cost, increase the speed, and improve the security of transactions in many industries and contexts. For example, it is being used to authenticate the source of minerals by tracking diamonds from mines to jewellery stores. Another project in Sweden is looking at how blockchain can be used to reduce errors and improve security of the land-title registry. We are only just beginning to explore the potential of blockchain. It is not surprising that many believe it may be the most important IT invention of the century.”

Dr. Eric Günter’ Krause, Partner, Infosys Consulting:
“The research shows that the financial services industry has woken up to the value and importance of blockchain. We are certain that the pace of blockchain development will only grow in the near future. However, going forward it is vital that banks, businesses and regulators work together to evaluate and properly integrate the technology in the regulatory frameworks. Only then can blockchain achieve its maximum spread and capability.”

Methodology:
The whitepaper research was based on outreach to 81 experts in the banking and fintech sectors. In total, 33 interviews were conducted with experts from the banking and fintech industries.

For more information, please visit http://infy.com/2cC4SL3 or go to SlideShare here: http://www.slideshare.net/Infosys-Consulting/blockchain-white-paper-65857204

About Infosys Consulting

Infosys Consulting is a global advisor to leading companies for strategy, process engineering and technology-enabled transformation programs. We partner with clients to design and implement customized solutions to address their complex business challenges, and to help them in a post-modern ERP world. By combining innovative and human centric approaches with the latest technological advances, we enable organizations to reimagine their future and create sustainable and lasting business value.

Infosys Consulting is the worldwide management and IT consultancy unit of the Infosys Group (NYSE: INFY), a global leader in consulting and technology services, with nearly 200,000 employees working around the globe. To find out more, visit us at http://www.infosys.com/consulting.

HHL Leipzig Graduate School of Management

HHL Leipzig Graduate School of Management is a university-level institution and ranks amongst the leading international business schools. The goal of the oldest business school in German-speaking Europe is to educate effective, responsible and entrepreneurially minded leaders. HHL stands out for its excellent teaching, its clear research focus, its effective knowledge transfer into practice as well as its outstanding student services. The courses of study include full and part-time Master in Management as well as MBA programs, a Doctoral program and Executive Education. HHL is accredited by AACSB International. To find out more, visit us at http://www.hhl.de.

Weitere Informationen:

http://www.slideshare.net/Infosys-Consulting/blockchain-white-paper-65857204
http://infy.com/2cC4SL3
http://www.infosys.com/consulting
http://www.hhl.de

MBA Volker Stößel | idw - Informationsdienst Wissenschaft

More articles from Business and Finance:

nachricht Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Small collisions make big impact on Mercury's thin atmosphere

Mercury, our smallest planetary neighbor, has very little to call an atmosphere, but it does have a strange weather pattern: morning micro-meteor showers.

Recent modeling along with previously published results from NASA's MESSENGER spacecraft -- short for Mercury Surface, Space Environment, Geochemistry and...

Im Focus: Austrian and Chinese Academies of Sciences successfully conducted first Inter-Continental Quantum Video Call

The two Academy presidents Chunli Bai and Anton Zeilinger tested quantum encrypted communication between Beijing and Vienna in a live-experiment. The quantum key was transmitted via the Chinese quantum satellite Micius.

From quantum cryptography to the quantum internet – fundamental research into the world of the quantum promises several new tech opportunities in the future....

Im Focus: Entangling photons from a quantum dot in the telecom C-band

A research team of the institute of semiconductor optics and functional interfaces (IHFG) of the University of Stuttgart experimentally verified the generation of polarization-entangled photon pairs in the emission wavelength range of the telecom C-band. The generation of entangled photons, i.e. a non-classical phenomenon which “bounds” the states of two different entities, is a cornerstone for the realization of quantum networks.

Quantum dots are one of the most prominent and promising candidates as non-classical light sources applied in quantum information technology. They have been...

Im Focus: Quantum communications bend to our needs

By changing the wavelengths of entangled photons to those used in telecommunications, researchers see quantum technology take a major leap forward

The potential for photon entanglement in quantum computing and communications has been known for decades. One of the issues impeding its immediate application...

Im Focus: The fastest light-driven current source

Controlling electronic current is essential to modern electronics, as data and signals are transferred by streams of electrons which are controlled at high speed. Demands on transmission speeds are also increasing as technology develops. Scientists from the Chair of Laser Physics and the Chair of Applied Physics at Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU) have succeeded in switching on a current with a desired direction in graphene using a single laser pulse within a femtosecond ¬¬ – a femtosecond corresponds to the millionth part of a billionth of a second. This is more than a thousand times faster compared to the most efficient transistors today.

Graphene is up to the job

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Conference Week RRR2017 on Renewable Resources from Wet and Rewetted Peatlands

28.09.2017 | Event News

“Lasers in Composites Symposium” in Aachen – from Science to Application

19.09.2017 | Event News

I-ESA 2018 – Call for Papers

12.09.2017 | Event News

 
Latest News

A sea of spinning electrons

02.10.2017 | Physics and Astronomy

Small collisions make big impact on Mercury's thin atmosphere

02.10.2017 | Physics and Astronomy

Our muscles measure the time of day

02.10.2017 | Life Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>