FinTechTalk

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For me, general, the less time it takes a business to complete a task or process the happier customers will be. Blockchain’s ability to reduce the time a process takes by removing inefficiencies really helps here.

faster payments and reconciliation of funds

for me its about the use case... for instance food provenance, knowing my apple is organic, and I can trace it back to when it was picked on which farm is kinda cool, especially if that is important to me...

In a nutshell, better transparency, guaranteed identity, lower risk, more trust, fewer disputes, reduced reconciliation times == happier customers! :-)

same applies for a banking transaction, if its quiker to get my funds, complet that trade or track something in real time, I am more engaged and feel involved

By speeding up processes that currently takes massive amounts of paper and weeks - for example, trade finance, loans, title transfers, identity verification

@matthewgkirk sounds simple when you put it like that!!!

3 Votes Vote

Being able to prove transactions to third parties - whether money or diamonds or carbon credits

@StevenDickens3 :-)

@StevenDickens3 That's a great thought, always my question, if what I receive as a customer is truly what the company is saying

Maura Schoonmaker

Less time to make a transaction - no more waiting days for something to clear - knowing the parties are all trusted and no extra 'touch points' during the transaction....reduction in fees! #fintechtalk

@DonnaExplorer smart contracts will be a key trend I think going forward, contracts where a dependency is met is something we will see more of

@Mkt779 the sooner this applies to house purchases the better for me... just one example

@stevendickens3 House purchases are a great example - at the moment it takes up to a month in the UK to complete the sale

Juan Petersen

@matthewgkirk Agree with you!

Maura Schoonmaker

right...if you could get a loan approved instantaneously vs. a month...that would be a HUGE savings!

Maura - great point

how does the shortage of blockchain expertise factor into speed of adoption?

Just like any new technology the rate of expertise for blockchain is increasing rapidly

its a tough space right now, lots of player with 2-years of experience, but that is the space... I would suggest you gravitate to players that have a breadth of experience in not only Blockchain but also large IT projects and LOB applications

For example, at the start of the internet, there were not web designers, no web server expertise, no web programmers

IBM LinuxONE22

http://www.via-cc.at...

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For me. the power of every party in the network having a copy of the same data at the same time should not be underestimated.

for me the imutable nature of the ledger is the foundation, the fact that large and small organisation are all working off the same base of knoweldge is key...

4 Votes Vote

Knowing that “you see what I see” increases the trust between parties in the network as there is no room for misunderstanding.

Democratic rather than hierarchical

@matthewgkirk exactly be that a big international bank or a 5 person fintech is key for me...

Mary C. Hall

Q2 Yes Blockchain CAN drive a culture of trust in Fin Tech because all parties can share the SAME data as single source of truth. #fintechtalk

No one organization owns the blockchain.

@DonnaExplorer amen to that!!!

@SystemsandTech Agreed - a single source of truth is key

Maura Schoonmaker

Less 'hands' touching transactions

Blockchain can help prove "who did what and when they did it" in the business network. This proof that something happened helps engender trust between parties.

one key issue that is often ignored is how the transition happens from the blockchain to the system of record and that the trust transfers to back end systems

Main use I see is trust. This is what Blockchain really adds to a transaction. It’s not so much the fraud issue, if you can trust a transaction it becomes harder for it to be fraudulent.

3 Votes Vote

I’m not sure Blockchain will fit into all of our daily transactions as the performance issue is still too complex for Blockchain,

but in-memory technology will likely address that and, as such, we may find that a trusted vendor starts to become table stakes.

@ajzander tend to agree, you certainly need a system that handles scale natively... performance will also be key

IBM LinuxONE20

Q9: What organizations are using #blockchain today, and what benefit are they deriving from it? http://www.via-cc.at...

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everyone from the likes of Everledger for Diamonds, to Maersk for shipping through to all the major banks...

3 Votes Vote

@PlasticBank is using blockchain to track plastic waste collected in developing countries and converting that to mobile phone and other credits https://www.ibm.com/...

@adamjollans @PlasticBank are a great example... such a worthy business model on so many levels

Banks are using blockchain today to provide new financing to Small Medium Enterprises (see https://www.bankingt...)

There is a huge diversity of use cases in many different industries who are all working to get the benefits of blockchain...

Because Blockchain relies on hyper ledger and hyper ledger is a table-driven application of a system of record. That system of record for the largest suppliers of transactions are running on IBM’s mainframe environment which implies that IBM

must be part of the Blockchain. I have seen IBM actually pivot to address the issues that are confronting today’s computing platforms and the recent releases of the mainframe Z14 chip are bringing out feature sets that assist in implementing Blockchains,

One really good example is https://wetrade.worl... - a blockchain network created by nine European banks to improve trade finance for SMBs

so I would be looking at IBM to help with Blockchain implementations. Looking at DataKinetics might not be a bad idea either while you are at it.

@StevenDickens3 https://www.youtube....

IBM LinuxONE

Food distributors, retailers and suppliers are using blockchain to provide food provenance and trust in our food supply chain (see https://www.youtube....)

robert henderson

Louis Dreyfus is using for global commodity trading

chekc out the guys at @everledgerio and @leanne_kemp love what they are doing, such an easy use case to relates to and is adding significant value...