According to author, Gaurav Gaggar, "The use of blockchain technology is expected to impact certain segments of the financial market in a phased manner, impacting trade finance, digital identity management, KYC digital identity, private market trading, P2P payments and P2P loans from 2017 - 2020."
Major companies are expected to invest heavily and contribute to the advancement of technology through isolated internal experiments, partnerships with technology providers and industrial consortiums. However, despite the transformative potential of blockchain technology, more than 40% financial institutions remain skeptical about the practical implementation and viability of the technology and have adopted a 'wait and see' approach for the near future.
BIS Research Report
According to author Tushar Agarwal, "Trade finance is likely to be the biggest beneficiary of the blockchain technology as its potential use can help in reducing the paper-intensive, manual processes, and document sharing cost. Implementation of the technology will also reduce the trade finance gap, free-up the capital tied-up in the trade finance process, and result in savings of over $30 - $40 billion per year."
The adoption of technology is expected to save financial institutions over $40 billion per year in infrastructure, IT, operational, third-party fee, and administrative personnel costs. Many Indian players have tested the usage of blockchain in the trade finance, cross-border payments, bill discounting, supply chain financing, loyalty and digital identity areas. A few Indian banks, business conglomerates, and stock exchange are among the pioneers for exploring blockchain in India.
The report is an exhaustive compilation of different peripherals of the applications and use cases of blockchain in the financial services industry. The report presents an in-depth analysis of the various factors governing the growth of the market, in addition to the Porter's five forces analysis, gauging the competitive attractiveness of the industry. The key strategies and developments segment of the report has been added to provide the readers with the recent strategic activities by the leading industry players in the market.
The global market has been analyzed for the key applications viz. KYC/AML processes, Syndicated Loans, Capital Market, Asset Management and Insurance. Detailed company profiles for players such as Digital Asset Holdings, Clearmatics, SynapsLoans, Shocard, Everledger, Microsoft, IBM and Bitbond among others, also form a critical part of the report.
The report addresses the following questions about the blockchain technology in financial markets
What are the key applications of blockchain technology that have been identified and what are the benefits associated with them? Which financial services the blockchain technology is likely to disrupt and how? Which segment of the financial services industry will benefit the most from advancement in the technology Which phase of development are various use cases of blockchain technology currently in and by when are they expected to be implemented? Which segment will witness the earliest implementation of the blockchain technology (2017 - 2026) and why? Which factors are expected to drive the adoption of the blockchain technology through the period of (2017 - 2026)? What factors are expected to impede the adoption of the blockchain technology? Which industrial consortiums are actively participating to endorse the use of blockchain technology? Governments of which countries are exploring, supporting and promoting the use of blockchain technology and how? Who are the key technology providers in the market for different use cases and what are their business models? What is the key strategic benchmarking a company adopts for leveraging opportunities in Mergers & Acquisitions and deals, collaborations and partners, among other stakeholders in the industry? Related Reports:
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
Source: BIS Research Inc.
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