PwC Report: Blockchain a ‘Once in a Generation’ Opportunity for Financial Services

Blockchain marks the next “jump” in business process/optimization technology, according to a newly-released PriceWaterhouseCoopers (PwC) report on fintech.

The report, “Blurred lines: How FinTech is shaping Financial Services,” compares blockchain to Enterprise Resource Planning (ERP) software that allowed entities and functions within a business to optimize processes by sharing logic and data within the enterprise.

Blockchain, according to the 36-page report, will enable entire industries to optimize business processes by sharing data among organizations that have separate or competing economic objectives. It notes that blockchain combines a number of cryptographic, mathematical and economic principles to maintain a database of market participants without requiring a third party reconciliator or validator.

Source: CCN

Post a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get the latest RightsTech news and analysis delivered directly in your inbox every week
We respect your privacy.