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Blockchain business application case

Time : 23/07/2022 Author : h05k6z Click : + -
        …& hellip; Banks need not fear bitcoin or blockchain technology at all. Blockchain technology, this incredible technology, is still maintaining the operation of bitcoin at this moment. In fact, it can provide trust and identity confirmation in an extremely convenient way, even if someone tries to cheat in any way& mdash;& mdash; International Monetary Fund (IMF) chairman Lagarde financial institutions and finance should focus on blockchain, cloud and network security. Blockchain can help banks, credit card companies and clearing enterprises cooperate to create safer and faster collection and optimize the use of funds by reducing counterparty risk and transaction delay rate.
        —& mdash; Accenture reports that the blockchain has laid the great potential of bitcoin. The extended significance of its bearing has gone far beyond the category of cryptocurrency. Blockchain allows people to build confidence in each other's cooperation without a central authority. In short, it is a machine that creates trust& mdash;& mdash; The economist cover article: the machine of trust& hellip;& hellip; This is an opportunity only once in 20 years, and we are considering whether there is a better way to complete this thing & mdash& mdash; It can reduce a lot of management costs from investment banks and brokerage backend, which is what blockchain has great potential to do.
        —& mdash; Elmer Funke, President of the Australian Stock Exchange. Blockchain technology constantly redefines not only the operation mode of the trading field, but also the entire global financial and economic system. Nasdaq's goal is to play an important role in this turning point type development opportunity& mdash;& mdash; Bob Greifeld, CEO of NASDAQ. The underlying technology of bitcoin has the opportunity to improve the settlement delay and improve the security of the system for enterprises. Therefore, the scale of the blockchain application market will eventually be in trillion dollars. If you can find a way to connect the blockchain world and financial services, you will have what you really call a revolution.
        —& mdash; Blythe masters, a former JPMorgan executive and the mother of CDs (credit default swaps), is very similar to the Internet. In the 1990s, the blockchain network has been ahead of the times. If we go back to 1995, do we still remember the title of Newsweek: "why did the Internet fail?" it emphasizes that "it is not convenient to read on the screen". The same skepticism is also looking at the blockchain and decentralized digital currency& mdash;& mdash; Forbes until now, whenever we need to exchange money, we still need to rely on a third party, whether it is a bank, a clearing house or a payment network.
        The blockchain technology provides us with a value transfer method that can be paid in real time at any place without intermediary for the first time. This may mean that we will soon see that billions of people send digital currencies every day like text messages& mdash;& mdash; Lawrence H Summers like it or not, banks and their regulators will have to accept technology driven innovation. Otherwise, this kind of innovation will only appear in the dark driven by forces outside the industry. We have seen similar examples, such as the recent blockchain technology.
        Innovation will not only bring great benefits to customers, but also give innovators a competitive advantage& mdash;& mdash; Peter sand, chief executive officer of Standard Chartered Bank& bull; As of September, the investment in blockchain projects in 2015 exceeded $1 billion & bull; WSJ: the Obama administration participated in the formation of the blockchain alliance to provide digital currency training for the US judiciary & bull; Giant Bain Capital, MasterCard, New York Life Insurance and Canada CIBC announced to join the blockchain investment company DCG& bull; Mizuho Bank of Japan, UniCredit Bank of Italy and Nordic Bank of Stockholm said on Wednesday that they would join the alliance led by R3 to participate in the research and development of a global framework based on blockchain technology.
        Besides China, most of the world's largest banks,. The total number of banks has reached 25& bull; NASDAQ launched the first blockchain based LINQ platform in Las Vegas. This is a platform for managing the equity of private companies,. Applying blockchain to the private market is an innovation on top of innovation and has the opportunity to permanently change the future of financial service infrastructure& bull; The Australian stock exchange is seriously considering adopting blockchain technology to realize the clearing and settlement system& bull; Deloitte partnered with the blockchain company colu to provide blockchain solutions & bull; Microsoft cloud platform azure launched the enterprise level solution of "blockchain as a service" to provide development tools for azure enterprise customers.
        • Visa and DocuSign cooperated to put the credit card into the vehicle through the blockchain technology and turn it into a smart asset& bull; Philips Medical entered the blockchain field and completed its first project. Artists can create menu options for sale, licensing, resale and multiple hybrid rights, and set prices freely& bull; Hlberton IT technology education school announced that it has established a partnership with bitproof to use blockchain technology to provide students with academic certificates. Equity, creditor's rights, securities and financial contracts, mutual insurance, registration and transfer of rights, gambling, anti-counterfeiting, Internet of things, smart contracts.
        • The aspects in which blockchain technology can reduce bank costs include cross-border payment infrastructure, securities trading and regulatory compliance. According to a recent report by Santander, management consultant Oliver & middot; According to the report of Oliver Wyman and venture investor Anthemis, banks can save us $15-22 billion annually in these areas by 2022. "In many fields, it seems that blockchain will work, and it is easy to find that it will completely change the financial industry," said rhomaios ram, product management director of Global Transaction Banking Department of Deutsche Bank.
        "For securities settlement, the speed of execution through the blockchain is much higher. (at the same time), you can also see that it can reduce the capital held by banks to hedge each transaction.".
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