Coinspeaker
News
  • Business
    • Deals
    • Investors
    • IPO
    • Startups
    • Wall Street
  • Markets
    • Bonds
    • Commodities & Futures
    • Currencies
    • Funds & ETFs
    • Indices
    • Stocks
  • Crypto
    • Blockchain
    • Bitcoin
    • Binance
    • Ethereum
    • XRP
    • Altcoins
    • Token Sales
  • Technology
    • Artificial Intelligence
    • Big Data
    • Cloud Computing
    • Cybersecurity
    • Gaming
    • Internet of Things
    • Mobile
    • Social Media
    • Transportation
    • VR and AR
  • FinTech
  • Personal Finance
  • Topics
  • Work It
  • Press Releases
Guides
  • Investing
    • Bonds Guides
    • Commodities & Futures Guides
    • Currencies Guides
    • Funds & ETFs Guides
    • Indices Guides
    • Stocks Guides
    • Forex Guides
  • Crypto
    • Altcoins Guides
    • Bitcoin Guides
    • Ethereum Guides
    • XRP Guides
    • Blockchain Guides
    • Token Sales Guides
  • FinTech
  • Tech
  • Glossary
Tools
  • Coins
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • XRP (XRP)
    • Tether (TUSD)
    • EOS (EOS)
    • Binance (BNB)
    • Litecoin (LTC)
    • Tron (TRX)
  • Token Sales
    • ICO List
    • STO List
    • IEO List
  • Organizations
  • Persons
  • Events
COMPANY
  • About
  • Contact
  • Advertise
  • Partners
  • Careers
  • Privacy Policy
  • Terms and Conditions
Social
  • Facebook
  • Twitter
  • Telegram
  • LinkedIn
  • RSS Feed

© 2023 MDD Group FZE LLC ALL RIGHTS RESERVED.

About Contact Advertise
Coinspeaker
  • Business
    • Deals
    • Investors
    • IPO
    • Startups
    • Wall Street
  • Markets
    • Bonds
    • Commodities & Futures
    • Currencies
    • Funds & ETFs
    • Indices
    • Stocks
  • Crypto
    • Altcoins News
    • Bitcoin News
    • Blockchain News
    • Binance News
    • Ethereum News
    • Token Sales News
    • XRP News
  • Technology
    • Artificial Intelligence
    • Big Data
    • Cloud Computing
    • Cybersecurity
    • Gaming
    • Internet of Things
    • Mobile
    • Social Media
    • Transportation
    • VR & AR
  • FinTech
  • Personal finance
  • Guides
    • Crypto
    • FinTech
    • Investing
    • Personal Finance Guides
    • Technology
  • Tools
    • Coins
    • ICO List
    • IEO List
    • STO List
    • Organizations
    • Persons
    • Events
Bitcoin (BTC)
1 BTC = ... USD
    US Dollar (USD)
    1 USD = ... BTC
      1 BTC = ... USD
      Go to the converter page

      The Inevitable Blockchain [Infographic]

      Nov 25 2016 · 12:52 UTC | Updated Sep 3 2017 · 15:51
      by Polina Chernykh · 2 min read

      The technology behind bitcoin is expected to transform traditional business models in the financial industry, according to Sopra Banking Software.

      Blockchain, the technology underpinning bitcoin, is one of the most important innovations since the development of the Internet. It has generated a lot of interest lately and it is likely to continue in view of the broadening adoption.

      The globe’s leading banks are starting to realize they need to embrace innovative technologies in order to stay competitive in today’s digitized world. Financial services providers are actively investing in various blockchain projects aimed at exploring the potential use cases of the technology.

      A major software solutions provider, Sopra Banking Software, has published blockchain infographics that highlight the main benefits of the technology and analyze its potential role in the future of the banking industry.

      One of the most important benefits of the cryptocurrency technology, the company stated, is that it eliminates the need to deal with intermediaries. Unlike current centralized systems, which depend on a single entity, the blockchain has no central ledger. The distributed nature of approving transactions makes it hard to compromise the system.

      Voting management is one of the other areas that can be improved with the cryptocurrency technology. The use of the blockchain can retain the simplicity of electronic voting while providing an increased security. In 2015, NASDAQ CEO, Bob Greifeld, announced that the Estonian NASDAQ market will apply the blockchain to streamline the process of proxy voting.

      The technology can also be used to simplify the issuance of dividends and shares, say the blockchain infographics. This year, online retailer Overstock.com secured the U.S. Security and Exchange Commission (SEC) approval for the use of the blockchain to issue company shares.

      Financial organizations expect they would significantly benefit from integrating the blockchain, which offers such advantages as higher transparency, faster transactions, and lower threat of hacking attacks.  Moreover, companies using the technology would be able to reduce costs of transactions settlement. As Sopra Banking Software wrote in its blockchain infographics, banks would save up to $20 billion in fees if they integrate the blockchain system.

      Meantime, researchers from Greenwich Associates discovered that the majority (94%) of the interviewed financial professionals believe that the distributed ledger technology would be beneficial to institutional markets. Besides, the study found that half of the surveyed were actively reviewing the blockchain within their companies.

      next
      The Inevitable Blockchain [Infographic]
      Polina Chernykh
      Author Polina Chernykh

      Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.

      Share:
      Created with Sketch.
      Subscribe to our telegram channel. Join

      Related Articles

      By Tolu Ajiboye January 26th, 2023
      Business News, Indices, Market News, News, Stocks Nasdaq Sees Lower Close for Second Day amid Corporate Earnings Season
      By Tolu Ajiboye January 26th, 2023

      The tech-heavy Nasdaq dipped 0.18% on Wednesday to close lower for the second day as corporate earnings roll on. 

      By Tolu Ajiboye January 24th, 2023
      Bitcoin News, Business News, Cryptocurrency news, Market News, News Silvergate Rises and Coinbase Drops as Crypto Stocks React to Bitcoin on the Mend
      By Tolu Ajiboye January 24th, 2023

      Several crypto stocks saw considerable increases in value while others dropped, as the 2023 Bitcoin price rally continued.

      By Benjamin Godfrey December 24th, 2022
      Work It Coinspaker Advent Calendar: Stock Market in 2023
      By Benjamin Godfrey December 24th, 2022

      While the US Fed’s Funds Rate is getting near its peak, the drivers of the economy may shift focus into reviving the stock market after winning the fight against inflation.

      Top Cryptocurrencies
      • Bitcoin Icon Bitcoin BTC $23 194 0.84%
      • Ethereum Icon Ethereum ETH $1 595 0.27%
      • BNB Icon BNB BNB $312 1.21%
      • XRP Icon XRP XRP $0.41 0.09%
      • Cardano Icon Cardano ADA $0.39 0.07%
      View All
      Top news
      British Finance Minister Calls on Tech Giants to Stoke Growth in Nation amid Reformative Tax Hikes
      British Finance Minister Calls on Tech Giants to Stoke Growth in Nation amid Reformative Tax Hikes

      January 27th, 2023

      Bitcoin Back Above $23,000 Once Again, Altcoins Support Rally
      Bitcoin Back Above $23,000 Once Again, Altcoins Support Rally

      January 26th, 2023

      Nasdaq Sees Lower Close for Second Day amid Corporate Earnings Season
      Nasdaq Sees Lower Close for Second Day amid Corporate Earnings Season

      January 26th, 2023

      Dow Futures Ink Slight Gains as Investors Digest Corporate Earnings Result
      Dow Futures Ink Slight Gains as Investors Digest Corporate Earnings Result

      January 26th, 2023

      Bitcoin (BTC) on 2-Day Losing Streak as Broader Tech Sector Takes Plunge
      Bitcoin (BTC) on 2-Day Losing Streak as Broader Tech Sector Takes Plunge

      January 25th, 2023

      News
      • Business
      • Markets
      • Crypto
      • Blockchain
      • FinTech
      • Technology
      Featured Sections
      • Coins
      • IEO List
      • STO List
      • ICO List
      • Organizations
      • Persons
      • Events
      • Guides
      • Glossary
      Featured Links
      • Story of the day
      • Editor's Choice
      • Videos
      • Infographics
      • Work It
      • Press Releases
      Guides
      • Crypto
      • Investing
      • Financial technology
      • Tech
      • Glossary
      Connect with us
      • Facebook
      • Twitter
      • Telegram
      • LinkedIn
      • Pinterest
      • RSS Feed
      About us
      • About
      • Contact
      • Careers
      • Advertise
      • Partners
      • Sitemap
      • Privacy Policy
      • Terms and Conditions

      Copyright © 2023 MDD Group FZE LLC All rights reserved.

      Reproduction in whole or in part in any form or medium without express written permission of MDD Group FZE LLC is prohibited.