q&a the future of blockchain and banking
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T H E F U T U R E O F B L O C K C H A I ND I S R U P T I N G C O L L AT E R A L M A N A G E M E N T:
David K. Donovan davidkdonovanfinance.com
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Q. What is Blockchain?
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A. The cryptographic ledger system that comes from the Bitcoin revolution.
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Q. Why is it being heralded as the future of finance?
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A. Blockchain provides a clear chronological order of all Bitcoin transactions recorded in a public ledger in order to keep track of records.
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A. Additionally the system is : Decentralized
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A. Additionally the system allows for : Quick Transactions
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A. And the system is : Inexpensive for the user
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Q. How does blockchain address the issues surrounding post-financial crisis collateral requirements?
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A. “The decentralised ledger process and the immediate nature of transaction processing would certainly bring a lot of efficiency to collateral management,” -Philippe Ruault, head of solutions for settlement, clearing and custody, BNP Paribas Securities Services
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Q. What are some of the other incentives for the implementation of blockchain technology?
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A. According to a study from Santander, it’s predicted that this technology could eliminate $15bn-$20bn/year from banks’ infrastructure costs.
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A. Additionally, the blockchain has the added bonuses of traceability, or the option to hardwire conditions into transactions.
D AV I D K D O N O VA N F I N A N C E . C O MT O L E A R N M O R E V I S I T: