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 Blockchain a blessing and a curse for global banks

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RR Phantom

RR Phantom

Location : Wasted Space
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Blockchain a blessing and a curse for global banks Vide
PostSubject: Blockchain a blessing and a curse for global banks   Blockchain a blessing and a curse for global banks Icon_minitimeMon Apr 25, 2016 3:18 am

The much-hyped blockchain may hit global investment bank earnings before any other sector, but the costs it can cut out of the whole financial market can also boost their squeezed margins, says Morgan Stanley.

Blockchain a blessing and a curse for global banks 1461536696828

New research from the bank estimates blockchain can cut between US$15 billion ($19.5 billion) and US$20 billion in costs from global money markets.

That includes a slice of the profits global investment banks, including Morgan Stanley, earn from so-called post-trade settlement – which involves holding capital while verifying transactions such as share trades, or when corporate loans have occurred, ensuring payment is made – and it estimates they will likely be the first to feel the impact of blockchain within the next five years.

Read more: http://www.smh.com.au/business/banking-and-finance/blockchain-a-blessing-and-a-curse-for-global-banks-20160424-godpd8.html#ixzz46ovYMjz3
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