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 Preferential trade agreements enhance global trade at the expense of its resilience
17.02.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung

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: Breakthrough with a chain of gold atoms

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

Im Focus: DNA repair: a new letter in the cell alphabet

Results reveal how discoveries may be hidden in scientific “blind spots”

Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send “repair-proteins”...

Im Focus: Dresdner scientists print tomorrow’s world

The Fraunhofer IWS Dresden and Technische Universität Dresden inaugurated their jointly operated Center for Additive Manufacturing Dresden (AMCD) with a festive ceremony on February 7, 2017. Scientists from various disciplines perform research on materials, additive manufacturing processes and innovative technologies, which build up components in a layer by layer process. This technology opens up new horizons for component design and combinations of functions. For example during fabrication, electrical conductors and sensors are already able to be additively manufactured into components. They provide information about stress conditions of a product during operation.

The 3D-printing technology, or additive manufacturing as it is often called, has long made the step out of scientific research laboratories into industrial...

Im Focus: Mimicking nature's cellular architectures via 3-D printing

Research offers new level of control over the structure of 3-D printed materials

Nature does amazing things with limited design materials. Grass, for example, can support its own weight, resist strong wind loads, and recover after being...

Im Focus: Three Magnetic States for Each Hole

Nanometer-scale magnetic perforated grids could create new possibilities for computing. Together with international colleagues, scientists from the Helmholtz Zentrum Dresden-Rossendorf (HZDR) have shown how a cobalt grid can be reliably programmed at room temperature. In addition they discovered that for every hole ("antidot") three magnetic states can be configured. The results have been published in the journal "Scientific Reports".

Physicist Dr. Rantej Bali from the HZDR, together with scientists from Singapore and Australia, designed a special grid structure in a thin layer of cobalt in...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Booth and panel discussion – The Lindau Nobel Laureate Meetings at the AAAS 2017 Annual Meeting

13.02.2017 | Event News

Complex Loading versus Hidden Reserves

10.02.2017 | Event News

International Conference on Crystal Growth in Freiburg

09.02.2017 | Event News

 
Latest News

Stingless bees have their nests protected by soldiers

24.02.2017 | Life Sciences

New risk factors for anxiety disorders

24.02.2017 | Life Sciences

MWC 2017: 5G Capital Berlin

24.02.2017 | Trade Fair News

VideoLinks
B2B-VideoLinks
More VideoLinks >>>