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.
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:
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.”
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.
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