Bitcoin Price Index (24h)

Last updated on May 28, 2016 at 09:00 BST. Based on the following values:

USD
OKCoin $504.33
Coinbase $489.50
Bitstamp $493.81
Bitfinex $498.09
itBit $491.05
CNY
BTC China ¥3,472.98
OKCoin ¥3,472.01
Huobi ¥3,568.65

USD 4.62%

$495.35

CNY 7.31%

¥3,504.55

EUR

€445.66

GBP

£338.79

Banks and the Blockchain Report

Buy for $399.00

Executive Summary

Most emerging technologies begin as niche offerings, with a specific user base in mind. Over time, they expand and become more widely adopted, often disrupting industries as they go.

The Internet Protocol (IP), which underpins the Internet and the modern web, is a good example of a niche technology which grew into a disruptive force. The blockchain, which underpins bitcoin, promises to be another. Financial institutions are exploring blockchain technology as a way to drive efficiencies into financial payment and settlement systems that have been slow to change.

Over the last 12 months, banks have publicly declared their interest in this technology and have begun openly experimenting with it. Several technology and service providers have made their plans public, many of them emerging from the bitcoin space and pivoting to embrace this new and potentially lucrative market.

This report explores the blockchain’s potential in the financial services industry, evaluates the main players and highlights some of the opportunities for the technology to disrupt traditional mechanisms in the financial markets. It also describes some of the potential challenges faced by pioneers in this sector, and outlines some possible solutions.

Report published: 21st December 2015

Table of Contents

  1. Executive Summary3
  2. Banks and Technology?4
  3. What is Blockchain Technology?6
  4. A History of Technology Adoption9
  5. The FinTech Sector11
  6. Blockchain’s Advantages for FinTech12
  7. Transparency12
  8. Speed13
  9. Cost13
  10. A Rush to Distributed Ledgers14
  11. Where Blockchains Make Sense in Finance17
  12. Challenges for Financial Blockchains21
  13. Mechanics of Financial Blockchains23
  14. List of Blockchain for Financial Service Providers25
  15. Conclusion33
Thumbnail of page 1
Thumbnail of page 2
Thumbnail of page 3
Thumbnail of page 4
Thumbnail of page 5
Thumbnail of page 6
Thumbnail of page 7
Thumbnail of page 8
Thumbnail of page 9
Thumbnail of page 10
Thumbnail of page 11
Thumbnail of page 12
Thumbnail of page 13
Thumbnail of page 14
Thumbnail of page 15
Thumbnail of page 16
Thumbnail of page 17
Thumbnail of page 18
Thumbnail of page 19
Thumbnail of page 20
Thumbnail of page 21
Thumbnail of page 22
Thumbnail of page 23
Thumbnail of page 24
Thumbnail of page 25
Thumbnail of page 26
Thumbnail of page 27
Thumbnail of page 28
Thumbnail of page 29
Thumbnail of page 30
Thumbnail of page 31
Thumbnail of page 32
Thumbnail of page 32
Thumbnail of page 32
Buy for $399 Buy for $399