The Financial Times, November 3, 2015
Banks are racing to harness the power of blockchain technology, in a belief that it could cut up to $20bn off costs and transform the way the industry works. Banks, insurers and companies ranging from IBM to PwC are trying to work out how they can adapt the technology that, in its simplest form, allows consumers and suppliers to connect directly and form online networks, removing the need for middlemen. For the financial services sector it offers the opportunity to overhaul existing banking infrastructure, speed settlements and streamline stock exchanges, although regulators will want to be assured that it can be done securely. […read more]