83704 Shailendra Malik – Optimum Solutions Pte Ltd 1 Posts 553 Views 0 Comments I recently stumbled upon a pretty detailed account written by R3’s Director of Market Research. (Link below). It was an interesting read for a new comer like me to see what R3 is doing and where is the focus of the Banking Community as far as the Block chain and distributed ledger goes. I admit I am quite new to the Block chain game but I do understand Settlements, hence Tim’s article was quite relevant for me and my peers.
Settlement risks involving public blockchains
I can understand for someone who is primarily looking at the situation from the existing banking and financial sector will come from a bias, and I found quite a few such anecdotes in Tim’s article. I’ll try to be as neutral to this as I could be as I feel Banks and incumbent solutions are as much a part of the solution as are the new radically FinTech revolution motivated start-ups.
Investment banking sector has indeed missed quite a few upgrade cycles as far as processes and technology advancement goes that impacted the Banking world in general and Retail banking in particular. The app culture adoption and its impending repercussions for standard IT development cycles have been radicalized by Agile methodologies and where rest of the sectors are adopting this rapid development and excelling on extracting its benefits BFSI Sector was relatively slow to adopt it, though there are good large IT programs running today that can be the poster children for BSFI sector.
As the IT cycles were disrupted by technology advancements, the so called FinTech revolution has spurred the business cycle of the equation as well. Banks only realized late what Silicon valley can do to them apart from generating […]
