How Blockchain Drives Innovation in Asset Management
By Dean Demellweek
Senior Digital Transformation Manager, BNP Paribas
The industries ready for transformation are all of those where the service is bad, the price is high, and the margins are high. So, that definitely will be finance, that’s my own industry!
These are the words of Tim Draper, legendary Silicon Valley VC investor, who has invested US$10 billion in over 1000 companies so far. Another big name, Harvard Business School professor Clayton Christensen, when asked about disruption in financial services, replied:
Banks will ultimately be the cause of their own demise if they limit investment in disruption innovations, and focus only on freeing up capital through tightening their belts and automating processes!
Neither of them mentioned asset management specifically, yet you would probably agree that both statements are equally applicable. There are reasons for optimism though! The first very promising proofs of concept (PoCs) are being tested (e.g. Fundchain Smart TA,1 BNP Paribas Fund Link,2 Funds DLT3) and there are many trail-blazing start-ups entering the field (e.g. Melonport,4 Polychain Capital,5 Blockchain Capital6). This is exactly what the asset management industry needs now – fresh ideas and many more real use cases to swing over all stakeholders.
What’s even more encouraging is the fact that in April 2017 the UK’s financial services regulator, the FCA, launched a new phase of their Project Innovate with ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access