Blockchain, the current heart of the Financial Industry

Blockchain, the current heart of the Financial Industry

08-Mar-2018 by Montserrat Bonilla

Do you know banks and financial companies are the largest users of distributed ledger technology (DLT), more commonly referred to as blockchain?

It is not a surprise for anyone how blockchain has found its way to redefine or create business models across a range of industries, but especially the financial industry. But the question remains around blockchain being the current heart of Fintech or whether it is becoming a kind of Holy Grail?

The entrepreneurial and innovative applications built around this technology grow every day. But how blockchain is currently used, and what is envisioned for its use in the future, are still two big questions for many.

One of our corporate partners, Ernst & Young, tackles these questions in The global blockchain benchmarking study: a joint project with the Cambridge Centre for Alternative Finance and VISA.

With data gathered from over 200 corporation, startups, banks, public sector institutions and financial firms, the study confirms the impact and relevance of blockchain for businesses and also presents a comprehensive view of its future and the challenges for its mainstream adoption.

This report, more than being a good starting point to understand Blockchain, shows specific use cases for business to use and access this technology.

(Images by EY)

Some key highlights are the significant growth of enterprises in the DLT ecosystem (at least 115 DLT startups employing more than 2,000 people are active in the ecosystem), how the protocol layer is slowly maturing, and the significant DLT activity in the public sector.

By closely studying this report, and collaborating first hand with corporate partners, you could turn your startup the next solution your clients are looking for, or maybe the holy grail of an entire industry.

So… If your startup is focused on the blockchain, it is a must-read.

(Read The global blockchain benchmarking study)

Marketing and Communications Manager of Startupbootcamp FinTech Mexico City