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

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