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Global Blockchain in Retail Banking Market 2018:Blockchain technology, often referred to as distributed ledger technology (DLT), is a means by which the participants in a distributed network can each maintain a copy of an immutable ledger of transactions and where transactions can be executed without the need for a single, central, coordinating authority. This ability to execute transactions effectively without the presence of a central authority is regarded by many as the chief benefit of blockchain technology, as it creates the promise that organizations will be able to transact business with one another without being subject to third-party control.
The blockchain technology in retail market is segmented in three categories: infrastructure providers, application providers and middleware providers. These providers mainly offer infrastructure to expand in the blockchain based platforms. Among these three category providers, application providers segmented is estimated to perform to be the fastest growing segment in the blockchain in retail market. Fueling the overall market growth, blockchain solutions are projected to drive their adoption in the retail vertical.
In banking, this disintermediation has serious ramifications for billions of dollars of global business. DLT could enable two parties to transact without requiring a third party for oversight or intermediation, reducing counterparty risk and arbitrage, as well as the role of ‘parasitic’ supporting entities that act as bottlenecks and profit from opacity in the system.
This promises to reduce overheads and greatly reduce transaction fees, decrease the number of stages and the number of organizations involved in a transaction (thereby reducing the chance of errors), while enabling faster transactions, 24 hours a day, seven days a week (in contrast to current interbank transactions that can take days for final clearing and settlement).
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The supply chain management segment is projected to dominate the blockchain in retail market, as retail companies are efficiently in a process to deploy blockchain based supply chain management applications to reduce delays from paperwork, investigate on frauds and errors, identify issues faster, and improve inventory management, and increase the customer and partners trust. The blockchain in retail helps organization to overcome the on-going limitations of supply chain system in terms of privacy, scalability, auditability and confidentially.
Key Players:
• Accenture
• Cognizant
• Credit China FinTech
• Goldman Sachs
• IBM
• Microsoft
• Ping An
• Santander
• Axoni
• BitFury
• Digital Asset Holdings
• Filament
• LO3 Energy
• R3
• Ripple
• Slock.it
• Royal Bank of Canada (RBC)
• Emirates Islamic Bank
• State Bank of India (SBI)
• Mizuho
• JPMorgan
• BBVA
Scope:
- This report analyses the impact of blockchain in retail banking.
- It discusses the benefits and uses of blockchain in banking.
- It identifies the current leaders and companies looking vulnerable in the blockchain technology theme.
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Reasons to buy:
- The report highlights some of the key players in the blockchain industry.
- It discusses some of the key trends in blockchain technology.
- The report explains the blockchain value chain by use case.
- It provides an industry analysis, explaining the fundamental challenges DLT faces and the adoption of the technology.
- The report also analyses the impact of blockchain on retail banking, offering key recommendations for retail banks and IT vendors.
- It provides a technology briefing to explain the evolution of the blockchain technology and how it works.
Table of Contents:
PLAYERS 4
TRENDS 5
Blockchain industry trends 5
Blockchain use case trends 6
Blockchain trends in retail banking 7
VALUE CHAIN 9
Asset registries 10
Financial services platforms 11
Industrial platforms 12
INDUSTRY ANALYSIS 13
Permissioned DLT networks insert a degree of trust into the equation 14
Commercial blockchains are at least five years away 14
DLT faces several fundamental technical challenges 15
What are the primary use cases for blockchain technology? 15
Logistics 16
Healthcare 16
Land registries 16
Digital fiat currencies 17
Smart grid 17
Commodity trading 18
Timeline 19
IMPACT OF BLOCKCHAIN ON RETAIL BANKING 21
Key recommendations for retail banks 24
Key recommendations for IT vendors 25
COMPANIES SECTION 26
Public tech and financial services companies 26
Private tech companies 28
Retail banking companies 29
TECHNOLOGY BRIEFING 30
How has blockchain technology developed over the last decade? 30
How does blockchain work? 31
GLOSSARY 32
APPENDIX: OUR “THEMATIC” RESEARCH METHODOLOGY 35
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