Blockchain, a vast, globally distributed ledger that can record anything of value and accessible on millions of devices, has made the headlines in recent years as the prominent technology revolutionising the finance industry. This has caused many to form the opinion that the use of blockchain technology is only the domain of fintech start-ups.
However, this is far from the case, as blockchain technology has the potential to revolutionise every single trusted broker industry in the world that works on the same intrinsic model – from art and antiquities to real estate, insurance, and recruitment – bringing about game-changing efficiencies and improvements to all involved.
The financial services industry is the largest and most profitable trusted broker industry in the world, contributing $13 trillion to the global economy and supporting countless businesses and individuals interact to do business. However, it remains heavily inefficient, relying on manual and convoluted processes, plagued by complex infrastructure, rising expenses and process delays.
Source - Read More at: www.businesscomputingworld.co.uk