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Blockchain for Finance

Blockchain for Finance

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SUMMARY

This whitepaper on blockchain technologies explains why CFOs should understand business blockchains and their potential for finance operations.

Business blockchains can operate as solutions on their own. Though their combination with other technologies, such as automation or artificial intelligence, can increase the business value significantly, the paper states.

There are several factors to take into account to assess the use of blockchains within an organization. These factors are, for instance, the number of participants involved as it is a brilliant option when multiple actors are involved. The complexity of business purpose is another deciding factor along with the need for long-term record keeping and real-time transfer of assets or payments, the research explains.

According to this Deloitte study, blockchain has the potential to modify processes that are defined inside Finance, in the first place due to its cost and control benefits. Furthermore, blockchain can have a significant positive impact on wider business processes that affect Finance in a marginal way including supply chain management.

The document mentions that the adoption of blockchain is speeding up as it offers many benefits that other technologies have difficulties to emulate. However, this doesn't equivalent to being the ideal solution for every business need. 

OUTLINE

Business blockchain and blockchain opportunities

Blockchain and Finance

Blockchain management

Alternative options to blockchain

Blockchain at present

DETAILS

Overview

Researchfinder Rating
4 out of 5 stars
Title
Blockchain for Finance
Region
Global
Published
Oct. 1, 2019
Publisher
Deloitte
Author(s)
Dean Hobbs, Rich de Moll, David Griswold
Price
FREE
Language
ENGLISH

Content

Number of Pages
22
Number of Tables
0
Number of Exhibits
5
Topics
blockchain
Tags
blockchain, cryptocurrency, Deloitte, financial services, global, smart contracts
Author(s)
Dean Hobbs, Rich de Moll, David Griswold
Methodology
Not available.
EVALUATION

This is an insightful report about blockchain and CFOs should focus on understanding its potential for finance operations.

Positives:

  • Nice layout
  • Good graphics
  • Understandable language

 

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