BlockFin – a term used to describe the convergence of blockchain and financial services – has become a hot topic, as banks and credit unions strive to innovate.
Blockchain is a powerful digital ledger system that could create simple transparency and ease of use in backend financial services processes. As a result, the technology has been billed as a solution to a wide range of problems.
Emerging services using blockchain include financial supply chain integration systems and the Utility Settlement Coin. Other use cases include smart contracts, tracking for cross-border payments and online identity management.
The breadth of these opportunities are precisely why firms should care about blockchain’s rise. The BlockFin movement is set to have a sweeping impact on the industry, and GDS Link can help firms create the analytics foundation they need to take full advantage of the technology.