Most banks are currently investigating or “leveraging blockchain”. Some of them are even testing “use cases” to go beyond the talk and hype. All of them are focusing on a single future scenario, which is dangerous. In this slide deck, I give banks 7 tips on what they should do with a blockchain.
Made by: https://twitter.com/SDWouters
13. Your best argument is technological evolution won’t happen?
Mobile
Social
Media
DigitalAnalog
Internet
Blockchain
Virtual
Reality
Nanotech
Artificial
Intelligence
15. the banks in control
of a permissioned
financial system
A future without the
“Internet of Money”
&
16. The Blockchain was invented to
eliminate “trusted” third parties
bitcoin.org/bitcoin.pdf
17. Banks are convinced they can turn this around and use
a blockchain to become more efficient and save costs
18. Dangerous: finance is the only sector in which
disintermediation is considered an opportunity
19. “The financial services
environment seized on
blockchain, because they saw
within it the possibility of using
some elements of bitcoin
without being disrupted.”
~Andreas Antonopoulos
20.
21. The “Internet of Money”, the (open) blockchain,
was invented in 2008 as open source code
Unstoppableby default
22. Anyone can copy it, develop it and innovate
on top of it to help it solve more problems
…
github.com/bitcoin/bips
github.com/bitcoin
23. At least one open blockchain will exist
Which one(s)
is irrelevant
29. The advice you will usually get for private blockchains
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
30. What I read
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
Find something
that sounds good
in theory
Tell others to
get on board
Find how much you
can save in theory
Work together with
others who thought
of things that sound
good in theory
Try out a lot of things
to figure this
blockchain thing out
Make startups
realise they need
you for regulation
Prepare to get
regulated
31. What I read
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
Find something
that sounds good
in theory
Tell others to
get on board
Find how much you
can save in theory
Work together with
others who thought
of things that sound
good in theory
Try out a lot of things
to figure this
blockchain thing out
Make startups
realise they need
you for regulation
Prepare to get
regulated
33. 1. Educate everyone, top to bottom, on Bitcoin & Blockchain
I can help!
Don’t be this guy
Be this guy
few financial people understand, fix this first
34. 2. Monitor the development of major cryptocurrencies
coindesk.com Gain insights to make better strategic decisions
35. 3. Onboard a Bitcoin/blockchain executive or entrepreneur
Upgrade your Digital DNA
36. 4. Integrate with an exchange or wallet
Play in a real, large scale environment
38. 6. Create a service for Cryptocurrencies
get direct feedback from customers
39. 7. Innovate outside of your regulatory framework
Inside it you won’t keep up with open alternatives
40. 7 things banks should do with blockchain
1. Educate everyone on Bitcoin and the Blockchain
2. Monitor the development of major cryptocurrencies
3. Get an executive or entrepreneur on board
4. Integrate with an exchange or wallet
5. Stimulate Bitcoin/Blockchain development
6. Create a service for Cryptocurrencies
7. Innovate outside of your regulatory framework
41. If you go the private distributed ledger way, expect:
Industry standards on many levels (who has
access, how to update, who is responsible…)
Complying with all (international) financial
laws
Intervention from regulators, governments
and others, weakening security
Shifting the global financial system
to distributed ledgers
And more…