Topic: Can blockchain change financial industry? - page 9. (Read 1993 times)

Yes of course! For example I believe in blockchain as in technology but I don't trust to people! What the reason is all make transparent, safety and honest?

The blockchain will be very helpful to create the modern economic system to minimize the risk and cost from the traditional system. Remember it's about to change the traditional economic system into the future economic system and blockchain will have needed by so many constitutions in the future consider it was offering a lot of advantages.

I figure blockchain can radically change and enhance the money related and Bink arrangement of the world. Presumably blockchain is the best creation throughout the previous couple of years. Blockchain is a chance to exchange reserves without go-betweens and without huge commissions.

I completely agree. I believe that this is one of the main goals of blockchain - completely changing the financial industry

This is now a reality. Blockchain technology is beginning to bring transformation to the financial of industry and this is evident as regards some startups. Commercially, i think it is already an achievement.

Of course financial industry will adapt to new technology revolution.
This is help them to minimize costs and be more modernize.

Yes, blockchain will definitely change the financial industry. The blockchain will greatly reduce the settlement time of funds in cross-border payment.  For banks, it is advantageous to use blockchain because it cuts costs by 20-30%. Blockchain can really change many sectors.

I think like cell phones that meddle with the journalistic business or retail locations, blockchain will likewise dominate the budgetary business. What's more, later on I figure all business areas will receive a blockchain framework.

It already changes the financial structure, in some countries bitcoin is already equated as a currency such as Japan

Yes, I'm sure that will happen. We still don't know what kind of improvement would happen with the blockage because it's still in the conception stage, and if the blockchain matured, I'm sure the technology would really win.

The financial industry is on the brink of its greatest disruption since the invention of double-entry bookkeeping.

With blockchain technologies and smart contracts, we no longer need a centralized and trusted third party to broker transactions and control the distribution of assets - and this is the main role which financial institutions such as banks (including reserve banks) play in our society.

With the use of a blockchain, we don’t need those trusted third parties. Transactions take place via a consensus mechanism which ensures the amounts sent and received are immutably written to a chain of data blocks, distributed across multiple nodes, using pseudonymous transaction IDs (which protect the identity of the originator but make the payment itself impossible to reverse-engineer).

Costs of transferring value are greatly reduced, as are validation times, because smart contracts are used instead of third party institutions (eg a contract which says release asset A from escrow when receipt of payment B is confirmed by a minimum of 6 independent network validations).

So yes, traditional services like banks, brokerages, payment processors, forex houses and many more financial institutions are in for big-time disruption.

Asset tokenization using blockchain technologies further enables illiquid assets to enter the economy like never before, which will transform our perception of value and the way it flows, along with our societal concepts of ownership and asset-holding.

Changing the future? It’s already here. Still not evenly distributed - but that’s what the blockchain is all about

Blockchain change the financial industry at this time. Many banks and insurance company adapt for this and change technology which they use.

I think that in the near future we will see a change in the entire economy in favor of cbloc technologies, it can become a factor of trust and remove the human factor. If everything was transparent, it would be a new step for the entire economic world.

Blockchain is a revolutionary technology and one of the key areas that the technology has made good advancements is in the financial area. As we can see, many global financial organizations are embracing and are testing it to see its efficacy as recent news in the industry has shown.
I am very positive that it will change the financial industry.

Yes, I've heard a lot that Blockchain will change the world. And the digital economy will come. I would like to believe but time will tell.

I have seen actors in the financial sector already integrating blockchain technology to enhance their financial dealings, So I think blockchain have a role to play especially in terms of transparency and trust.

May be you don't see how financial industry changing, but at this moment many company check blockchain as a new technology wich can help them.

Why not! It's popular, convenient, fast. But this requires that many countries accept it. And then it will be profitable!

I am sure that it even could not do, it will do. Changing has started not so far and I hope they will be developing in th fuuture as well because it is not the end.

replace might not. but instead will revolutionize the financial industry for the better. the technology exists in the crypto make it in finance became easier and certainly practical things of this kind wish of many people. Crypto can be even more than that, not only in the field of the financial industry only. existing technologies could include crypto in all fields.