Four Blockchain Use Cases For Banks


With contributions from BNY Mellon and Rabobank, FinTech Network have composed a whitepaper that outlines Four Blockchain Use Cases for Banks. The paper highlights areas where distributed ledger technology could disrupt the way that financial institutions currently do business including:
  • Fraud Protection: How blockchain offers complete transparency on all asset transfers helping to enable real-time fraud analysis and prevention
  • Know Your Customer: How KYC statements can be stored on the blockchain to reduce admin burdens and costs whilst outlining the concerns that still need to be addressed
  • Trading Platforms: How the immutability and digital uniqueness inherent in blockchain offers the ability to provide a secure transfer of value that could eradicate numerous challenges that currently face trade finance
  • Payments: How this technology could help to modernise payments and address some of the safety and security concerns that are still pertinent following the 2008 financial crash