Five Ways Financial Institutions/Authorities Work With Blockchain TechnologySeptember 29, 2016    By : Sofia
With endless trials/projects/initiatives/region-specific consortiums/pilots, blockchain sometimes looks like one of those ‘fashion items’ in the financial services industry that institutions want to have to keep the title of ‘innovative and modern.’ Undoubtedly, some of those initiatives will end up perpetuating a large-scale adoption, but at the moment, a potpourri of activities just keeps piling up.
To somehow structure them, let’s look at five types of relationships that financial institutions are establishing in the blockchain segment of financial technology solutions:
The examples of both institutions and activities are certainly not exhaustive, but illustrative some of the mainstream ways financial institutions find suitable for themselves to learn and adopt the technology of the future. After all, a Goldman Sachs research in early 2015 estimated that a part of the traditional financial services’ revenue – $4.7 trillion out of $13.7 trillion – is at risk of being displaced by new technology-enabled entrants which include FinTech players.
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