Cointelegraph journeyed to Sibos 2019 to find out how some of the biggest financial institutions in the world are already adopting blockchain technology.

We talked to eleven experts from eight different companies — including IBM, Accenture, McKinsey & Company, Hyperledger, ANZ, Everest Group, Fnality, and Synechron — about the future of blockchain technology in the financial world.

Blockchain is changing the face of global business. It has the ability to optimize and streamline existing systems across all industries by a whopping 30%. It even has the power to completely revolutionize entire business ecosystems — like supply chains, trade finance, and cross-border payments — by re-imagining the way we store, share, and verify data.
For these reasons, blockchain is on the brink of mass corporate adoption on a worldwide scale. Our discoveries here at Sibos will tell you just how close to that reality we really are.

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21 COMMENTS

  1. Key moments:
    1:20 Jason Kelley, IBM — How blockchain is transforming data usage and storage.
    3:48 Vita Bortnikov, IBM — What is a permissioned blockchain network?
    5:12 Ronak Doshi, Everest Group — Four key use cases for blockchain technology.
    8:05 Nigel Dobson, ANZ — Moving large property companies into the digital age.
    9:58 Melanie Cutlan, Accenture — How blockchain can increase businesses' efficiency by 30%.
    11:16 Tim Coates, Synechron — Is blockchain technology actually applicable to businesses?
    12:32 John Whelan, Fnality — What is the Utility Settlement Coin?
    15:03 Marta Geater-Piekarska, Hyperledger — The intersection of identity and blockchain technology.
    16:43 David Treat, Accenture — Combining blockchain and biometrics to radically transform international travel.
    21:49 Alessio Botta, McKinsey & Company — What are the obstacles for blockchain integration?
    23:50 Nigel Dobson, ANZ — How do banks view cryptocurrencies?
    27:05 John Velissarios, Accenture — How will we view blockchain after mass adoption?

  2. This asshole from IBM is a straight up liar! Your centralized database you call a “blockchain” is not even close to immutable. Jesus, there are a lot of suckers out there!

  3. Blockchain as the future of IT is dead. Everyone has started to see that blockchain is nothing but a specific technology with specific attributes which have nothing to do with the problem these companies are trying to solve. In the end, it is the trust in the service that matters, not the technology that you are using. Blockchain is dead, long live blockchain! As the hype goes away, we can focus on using it for what it is good and useful for as opposed to applying to problems it cannot solve to get attention.

  4. ALGO is a sleeping giant. Now Sharia-Law Certified, the whole world will be able to build on their platform. Real estate, bonds, transactions, loans and more will all be transparent as blockchain takes over.

  5. Ethereum/DeFi will only get bigger and bigger in the coming years.

    Real estate will be massive, imagine when you can view real estate ledger on the blockchain, apply for a loan etc. It's gonna be massive!
    Good to see Algorand/AssetBlock and Harbor laying the groundwork for this to happen.

  6. It goes back to the same old question. Can you replace the word Blockchain with the word database? If so it is just a database not a blockchain. The Bitcoin blockchain seems to be the only actual blockchain of consequence. Am I wrong?

  7. 7:37 I wonder why they always keep skipping the third largest crypto asset XRP and they jump to Bcash and LTC lol. This conference seems to benefit only the already rich. We are fighting for tech that will uplift the whole world. XRP still the greatest digital asset ever built. The inter-ledger that will connect all blockchains. These companies are quite delusional.

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