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Share this topic on FacebookShare this topic on MySpaceShare this topic on RedditShare this topic on TwitterAuthorTopic: IDG Contributor Network: Why banks should stay well clear of blockchain  (Read 29 times)

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ScarlettTopic starter

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IDG Contributor Network: Why banks should stay well clear of blockchain
21 April 2017, 4:14 pm



If the financial services industry is banking on blockchain as the basis for new service innovation, it will be sorely disappointed. Blockchain's design principles are completely at odds with those of the industry, and the technology is fraught with flaws that could be catastrophic for financial institutions.

I’ll come on to why in a moment. Clearly, there is a lot of hype and momentum around blockchain. WANdisco sees this first hand: We’re increasingly being approached by banks that think this is the kind of thing we do (it isn’t). And why are they interested? Because senior directors and investors have heard the buzz and concluded that this is something they need—that if they don’t seize the opportunity, they’ll miss out. They’re wrong. Banks need blockchain like a hole in the head.

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Source: Network World Security

>> To obtain the full NetworkWorld Security article, click the link in the first post line <<
 

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