BBVA: Blockchain Technology - The Ultimate Disruption in the Financial System

BBVA: Blockchain Technology – The Ultimate Disruption in the Financial System

02/09/2015

BBVA, a multinational Spanish banking group has published another report on the block chain technology entitled “Blockchain Technology: The Ultimate Disruption in the Financial System,” to explicate the advantages and unique applications of the block chain technology.

Specifically, BBVA highlighted the block chain’s capability of storing identities and unforgeable data and its ability to settle secure transactions instantly.

“In the financial industry, institutions were slow to recognize the potential of blockchain technology; however, dozens of large banks have now invested significant amounts of money in this technology. The attention is likely the result of how disruptive this technology is to the financial sector, particularly if it allows massive simplification of banking processes and significantly reduces costs,” explained Nathaniel Karp of BBVA.

Download below “Blockchain Technology: The Ultimate Disruption in the Financial System,” (PDF 3 pages).

150710_US_EW_BlockchainTechnology.pdf

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