World Economic Forum Study: Blockchain Will Transform the Future of Finance

According to a Business Insider article, the World Economic Forum (WEF) has concluded that blockchain technology “will fundamentally alter the way financial institutions do business around the world.”

The WEF’s study entitled “The future of financial infrastructure,” said blockchain technology “has great potential to drive simplicity and efficiency" in financial services and "will redraw processes and call into question orthodoxies that are foundational to today's business models…and will help build innovative solutions across the industry, becoming ever more integrated into the structure of financial services, as mainframes, messaging services, and electronic trading did before it."

The WEF, and collaborator Deloitte, spent 12 months putting together this report and talked to almost all of the world's top investment banks, central banks around the world, and startups, according to Business Insider.

If you would like to join SFIG’s Blockchain Task Force, please contact Alyssa.Acevedo@sfindustry.org.

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