Digital News – Blockchain
Blockchain team at 2016-04-15 in Actualité digitale
« Blockchain », an ambivalent revolution
By accelerating process automation, « Blockchain » offers an opportunity for banks and an infrastructure cost reduced to more than $15 billion by 2022. It is for this reason that a consortium of around forty banks decided to experiment the concrete uses of this technology.
Blockchain and Fintech: 95% of banks could lose their business
FinTechs have a strong capacity to innovate and introduce functional improvements, different from existing models, and therefore to lower operating costs and exert pressure on margins.
Although blockchain still raises a lot of criticism and doubts about its effectiveness, it is necessary to understand this technology, which could become a key success factor. It thus seems important that financial institutions and FinTechs can develop a form of collaboration and take up challenges inherent in any partnership (management differences and cultural differences, operating procedures and regulatory uncertainties).
The government paves the way for blockchain
At the conference on crowdfunding, « Assises du financement participatif », Emmanuel Macron announced on Tuesday, March 29, an adaptation of the financial regulation in order to allow blockchain experiments dedicated to the market of bank certificates of deposit.
Faced with these regulatory obstacles, it is therefore on the less regulated field of bank certificates of deposit that the government intends to open up to blockchain experiments.
On March 24, France could regulate the use of Blockchain
On the occasion of the last review of the future digital law, the electronic communications committee would like to make parliamentarians take interest in blockchain. This technology attracts the attention of banks, and investments intended for start-ups (50 billion in the United States, 5 billion in London and hardly one billion for the rest of the Eurozone) have already been invested in this technology. The digital parliamentary committee therefore aims to boost investments in the French start-ups specialised in this new technology.
Changes in legislation would allow start-ups to enjoy a regulatory framework conducive to the development of this technology.
Blockchain: UK leads the way in Europe
At the end of January, the UK Government Office for Science published a report on blockchain, remarkable in more ways than one. This report is part of a fundamentally positive and proactive approach to blockchain. The report recommends a number of work areas, which include: investing in research on distributed ledgers, considering setting up of a regulatory framework, building standards that ensure security and privacy, or developing more interoperability.
Goldman Sachs wants a Blockchain without Bitcoin
The Chief Information Officer of Goldman Sachs expressed a mixed opinion on the security and efficiency of blockchain, which currently serves as a transaction ledger for virtual currency. Nevertheless, the bank is well aware of the importance of this technology and is currently working on a more advanced alternative version.
Goldman Sachs has also implemented an ambitious digital strategy that will make the financial institution a key player in new technologies applicable to finance, and the main organizer of the new generation of Blockchain.
DTCC partners with Masters on blockchain for repos
The Depository Trust & Clearing Corporation plans to develop and test a blockchain to manage the clearing and settlement of « US treasury, agency, and agency mortgage-backed repurchase agreements » – or repos – with startup Digital Asset Holdings.
SmartAngels and BNP Paribas are experimenting blockchain
Blockchain is gradually beginning to move beyond the prophecy stage to address concrete applications. The unlisted securities market, which offers little regulatory protection and has no central depository, is an ideal field of experimentation for the decentralized ledger technology. SmartAngels and BNP Paribas Securities Services (BP2S) have understood this; the equity crowdfunding platform and securities services expert have announced the launch of a pilot project in the second half of 2016.
Capital Markets Practice
Illustration image source : blockchainfrance.net