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 Corporate coworking as a driver of innovation
22.11.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO

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

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: Towards data storage at the single molecule level

The miniaturization of the current technology of storage media is hindered by fundamental limits of quantum mechanics. A new approach consists in using so-called spin-crossover molecules as the smallest possible storage unit. Similar to normal hard drives, these special molecules can save information via their magnetic state. A research team from Kiel University has now managed to successfully place a new class of spin-crossover molecules onto a surface and to improve the molecule’s storage capacity. The storage density of conventional hard drives could therefore theoretically be increased by more than one hundred fold. The study has been published in the scientific journal Nano Letters.

Over the past few years, the building blocks of storage media have gotten ever smaller. But further miniaturization of the current technology is hindered by...

Im Focus: Successful Mechanical Testing of Nanowires

With innovative experiments, researchers at the Helmholtz-Zentrums Geesthacht and the Technical University Hamburg unravel why tiny metallic structures are extremely strong

Light-weight and simultaneously strong – porous metallic nanomaterials promise interesting applications as, for instance, for future aeroplanes with enhanced...

Im Focus: Virtual Reality for Bacteria

An interdisciplinary group of researchers interfaced individual bacteria with a computer to build a hybrid bio-digital circuit - Study published in Nature Communications

Scientists at the Institute of Science and Technology Austria (IST Austria) have managed to control the behavior of individual bacteria by connecting them to a...

Im Focus: A space-time sensor for light-matter interactions

Physicists in the Laboratory for Attosecond Physics (run jointly by LMU Munich and the Max Planck Institute for Quantum Optics) have developed an attosecond electron microscope that allows them to visualize the dispersion of light in time and space, and observe the motions of electrons in atoms.

The most basic of all physical interactions in nature is that between light and matter. This interaction takes place in attosecond times (i.e. billionths of a...

Im Focus: A transistor of graphene nanoribbons

Transistors based on carbon nanostructures: what sounds like a futuristic dream could be reality in just a few years' time. An international research team working with Empa has now succeeded in producing nanotransistors from graphene ribbons that are only a few atoms wide, as reported in the current issue of the trade journal "Nature Communications."

Graphene ribbons that are only a few atoms wide, so-called graphene nanoribbons, have special electrical properties that make them promising candidates for the...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

AKL’18: The opportunities and challenges of digitalization in the laser industry

07.12.2017 | Event News

Blockchain is becoming more important in the energy market

05.12.2017 | Event News

Ecology Across Borders: International conference brings together 1,500 ecologists

15.11.2017 | Event News

 
Latest News

NASA's SuperTIGER balloon flies again to study heavy cosmic particles

07.12.2017 | Physics and Astronomy

UChicago scientists craft world's tiniest interlinking chains

07.12.2017 | Life Sciences

Study reveals significant role of dust in mountain ecosystems

07.12.2017 | Earth Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>