Blockchain-based systems can transform the financial services world and save billions of dollars in infrastructure costs alone. Firms starting off on the blockchain journey, should begin with a testbed environment to get a first-hand experience of the technology .This can help contextualize the technology to use cases that are most relevant to the firm.
Large financial institutions have already identified 10-20 use cases for technology and business potential evaluation. Top uses being pursued include those in areas of payments, remittances, trade finance, post-trade processing, repurchase agreements, debt distribution and insurance processing. Initiatives are largely at the POC phase, with pilot projects validating how solutions leveraging blockchain can replicate or complement existing infrastructure.
Indeed, a ‘race to production’ is now underway. We are now at the cusp of an exciting journey, where organizations can leverage blockchain to establish market position and leadership through break-away business models. As it goes “You don’t build a network – You Grow it!” Is your firm ready to take the plunge?
Download the PoV to find out!