The future of blockchain solutions and technologies


Nearly every global bank is experimenting with blockchain technology as they try to unleash the cost savings and operational efficiencies it promises to deliver.

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Banks are exploring the technology in a number of ways, including through partnerships with fintechs, membership in global consortia, and via the building of their own in-house solutions.

In this report, Business Insider Intelligence outlines why and in what ways banks are exploring blockchain technology, provides details on three major banks’ blockchain efforts based on in-depth interviews, and highlights other notable blockchain-based experiments underway by global banks. It also discusses the likely trends that will emerge in the technology over the next several years, and the factors that will be critical to the success of banks implementing blockchain-based solutions.

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  • Publisher: Business Insider
  • Author: Sarah Kocianski
  • Twitter: @clusterstock
  • Citation: Web link

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Bumo Announces its Vision for the Future of Blockchain Tech

Blockchains and cryptocurrencies. These two buzzwords together have generated a tremendous amount of hype, promise, caution, and confusion in the technology scene over the past two or three years. Despite the growing excitement surrounding blockchain and its seemingly infinite applications, blockchain is still very much an emerging technology. At this year’s Silicon Valley Innovation & Entrepreneurship Forum, BUMO announced a blockchain ecosystem that it hopes will allow the blockchain to truly permeate the marketplace and the world, becoming a feasible solution for financial institutions, non-profits, healthcare providers, and individuals alike.

  • Publisher: NewsBTC
  • Date: 2018-05-14T19:04:18+00:00
  • Twitter: @newsbtc
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What is the future of blockchain?

According to Gartner, the business value-add of blockchain will grow to slightly more than $176 billion by 2025, and then it will exceed $3.1 trillion by 2030. Gartner does not expect large returns on blockchain until 2025.
Most current uses of blockchain are not disruptive, because, according to Gartner, “the majority of organizations that undertake blockchain projects find it hard to conceive of systems that are outside of their legacy, centralized models (both business models and technology platforms).Cont.
According to IDC, worldwide spending on blockchain solutions is forecast to reach $2.1 billion in 2018, more than double the $945 million spent in 2017

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  • Publisher: ZDNet
  • Author: Vala Afshar
  • Twitter: @ZDNet
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Infosys Partners with 7 Banks for Blockchain Trade Finance Network

Indian IT giant Infosys is exploring the potential of blockchain technology to bring new efficiencies in trade finance.

The blockchain-based network has been designed to digitize’trade finance business processes and covers areas such as ownership validation, certification of documents and payments.

Sanat Rao, chief business officer at Infosys Finacle, said he hopes to bring more banks into the consortium in order so they can learn about the potential benefits of blockchain systems.

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“Digitization of trade finance processes using distributed ledger technology offers immense potential to eliminate the friction, cut costs and increase revenue through new business products that are now viable using the modern technologies.”

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  • Publisher: CoinDesk
  • Date: 2018-05-17
  • Citation: Web link

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