Blockchain: A Fundamental Shift for Financial Services Instituations
In the last year, millions of users were added to the Bitcoin ecosystem and daily transactions tripled. More revolutionary than the rise of Bitcoin, however, is the blockchain technology that makes it possible. Traditional banks may be rendered obsolete by Bitcoin and blockchain technology, but the reality is that blockchain has the potential to do much more than just support cryptocurrencies. It’s set to revolutionise the financial services sector more broadly thanks to its potential to provide unprecedented transaction security through cryptography.
In this paper, Capgemini looks at blockchain technology and how it can transform financial institutions. We also explore how to evaluate this new technology and what to consider when looking at blockchain as a transformational opportunity.