Blockchain and Banking by Pierluigi Martino

Author:Pierluigi Martino
Language: eng
Format: epub
ISBN: 9783030709709
Publisher: Springer International Publishing

4.1 Introduction

The emergence of new innovation technologies has changed traditional banking business models: these new technologies have significantly altered traditional processes across the value chain—from the way banks interact with customers to how they organise their middle and bank-office operations (Kobler et al. 2016).

As a new innovation technology, blockchain has been acknowledged as a disruptive force for the financial sector because it could potentially reshape existing business models in the financial services industry—in banks, in particular. This chapter outlines how blockchain’s distributed ledger technology could reshape traditional banking business models. The framework developed by Osterwalder and Pigneur (2010), which they call the Business Model Canvas, is used for this purpose. The chapter concludes with an overview of the status of banks’ adoption of blockchain and discusses the practices they have undertaken to embrace the technology.

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