Consensus—the cornerstone of business models for Blockchain technology in banking services.
An authenticated system of ownership that verifies the entire transaction chain is no longer a dream in the financial sector: this is what is known as “Blockchain technology.”
The ability to automatically and unequivocally check whether a person really owns what they claim and to trust other actors are the new benefits offered by Blockchain and is particularly relevant for financial markets.
Blockchain technology is fundamentally based around consensus, i.e., all parties agreeing to network verified transactions.
The anonymity of participants constitutes an expensive commitment, as is demonstrated by the work on the Bitcoin Blockchain; when participants are known and trusted, commitment is possible without the high costs.
This commitment can be created in various ways: namely, proof of a stake, where fraudulent transactions would be penalized, or multi-signature validation, where a previously defined majority could validate a transaction.
However, we believe that the best alternative for banking services, especially securities services, would be centralized validation in a powerful decentralized system that retains the need for a trusted third party.
Download the article:
http://www2.deloitte.com/content/dam/Deloitte/lu/Documents/financial-services/performancemagazine/articles/lu-can-banks-devise-a-centralized-business-model-for-decentralized-blockchain-technologies-24052016.pdf
An authenticated system of ownership that verifies the entire transaction chain is no longer a dream in the financial sector: this is what is known as “Blockchain technology.”
The ability to automatically and unequivocally check whether a person really owns what they claim and to trust other actors are the new benefits offered by Blockchain and is particularly relevant for financial markets.
Blockchain technology is fundamentally based around consensus, i.e., all parties agreeing to network verified transactions.
The anonymity of participants constitutes an expensive commitment, as is demonstrated by the work on the Bitcoin Blockchain; when participants are known and trusted, commitment is possible without the high costs.
This commitment can be created in various ways: namely, proof of a stake, where fraudulent transactions would be penalized, or multi-signature validation, where a previously defined majority could validate a transaction.
However, we believe that the best alternative for banking services, especially securities services, would be centralized validation in a powerful decentralized system that retains the need for a trusted third party.
Download the article:
http://www2.deloitte.com/content/dam/Deloitte/lu/Documents/financial-services/performancemagazine/articles/lu-can-banks-devise-a-centralized-business-model-for-decentralized-blockchain-technologies-24052016.pdf
Pour lire tous les articles Finyear dédiés Blockchain rendez-vous sur www.finyear.com/search/Blockchain/
Participez aux prochaines conférences Blockchain éditées par Finyear :
Blockchain Vision #4 + Blockchain Pitch Day #1 (28 juin 2016)
Blockchain Hackathon #1 (octobre 2016)
Participez aux prochaines conférences Blockchain éditées par Finyear :
Blockchain Vision #4 + Blockchain Pitch Day #1 (28 juin 2016)
Blockchain Hackathon #1 (octobre 2016)
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Recevez chaque matin par mail la newsletter Finyear, une sélection quotidienne des meilleures infos et expertises en Finance innovation, Blockchain révolution & Digital transformation.
Les 6 lettres mensuelles digitales :
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- Le Trésorier
- Le Credit Manager
- The Chief FinTech Officer
- The Chief Blockchain Officer
- The Chief Digital Officer
Le magazine trimestriel digital :
- Finyear Magazine
Un seul formulaire d'abonnement pour recevoir un avis de publication pour une ou plusieurs lettres