Is blockchain changing banking for the good?

"The  one  thing  that  blockchain  really  does,  it  removes  friction  from  the  industry.  And when  I  talk  about  friction,  I'm  talking  about,  there  is  one  version  of  the  truth  that  exists  there.  So  we don't  have  reconciliations,  which  is  a  huge  part  of  what  we  do  in  financial  services.  We  are  always  reconciling  what  we  know  against  another  party.  And  now  there  are  other  ways  of  doing  that,  but  blockchain does it in a  way  which  is  clean,  which  is  sophisticated.  And  as  Stephan  does,  it  allows  us  to  do it  in  real  time,  removing  risk.

 The  thing that I  really  get  excited  about  blockchain,  which  I  think is  the  benefit  and  also  one  of  the  drawbacks  about  it,  is  the  excitement  and  the  ideas  that  people  have  about  what  can  be  done  there.  I  think  it's  forcing  us  to,  encouraging  us  to  think  in  new  ways,  think  about  what  the  things  are  we  could  do  with  technology.  I  think  the  drawback  about  that  is  a  lot  of  people  get  over  excited  about  it  and  run  off  down  rabbit  holes  around  things  which  don't  actually  add  benefit  to  what  we're  doing."  - Wynn Davies, EVP, US Finance Sector, Endava

Listen to the full episode here for an in-depth look into how blockchain is influencing the banking industry. Bradley Howard and seasoned experts Stephane Malrait and Wynn Davies take a deep dive into the real and projected benefits of blockchain, what are some of the most exciting DLT implementations and what’s in store for the future of the market.

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