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Nearly each tellurian bank is experimenting with blockchain record as they try to unleash a cost assets and operational efficiencies it promises to deliver.
Banks are exploring a record in a series of ways, including through partnerships with fintechs, membership in tellurian consortia, and around a building of their possess in-house solutions.
In this report, BI Intelligence outlines because and in what ways banks are exploring blockchain technology, provides sum on 3 vital banks’ blockchain efforts based on in-depth interviews, and highlights other important blockchain-based experiments underway by tellurian banks. It also discusses a expected trends that will emerge in a record over a subsequent several years, and a factors that will be vicious to a success of banks implementing blockchain-based solutions.
Here are some of a pivotal takeaways from a report:
- Most banks are exploring a use of blockchain record in sequence to streamline processes and cut costs. However, they are also looking to precedence additional advantages, including increasing competitiveness with fintechs, and a ability to use a record to emanate new business models.
- Banks are starting to slight their focus, and are increasingly honing in on discernible use cases for blockchain record that solve genuine problems faced by their businesses.
- Regulators are holding an increasing seductiveness in blockchain technology, and they’re operative alongside vital banks to rise regulatory frameworks.
- Blockchain-based solutions will start to emerge in opposite areas of financial services. The many successful solutions will solve specific problems for banks and attract a vast adequate network to emanate widespread benefits.
In full, a report:
- Outlines banks’ experiments with blockchain technology.
- Details blockchain projects during 3 vital banks — UBS, Credit Suisse, and Banco Santander — formed on in-depth interviews.
- Discusses a expected trends that will emerge in a record over a subsequent several years.
- Highlights a factors that will be vicious to a success of banks implementing blockchain-based solutions.
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