‘ IGOR PEJIC , AUTHOR BLOCKCHAIN BABEL , KOGAN PAGE [ BULL . IO BLOCKCHAIN BUSINESS CHALLENGES ]’ 47
rather than fretting about it , bankers are embracing blockchain technology . Earlier this year 90 % of finance executives said it will have a positive effect on the payments industry .
The payments space is by far not the only application field for blockchain in finance . Loan issuance , trade finance , the issuance and management of securities , and raising venture capital are just some of the most prominent areas to be streamlined by blockchain . The messier and more labyrinthine the current processes , the larger the benefits . With syndicated loans , for example , it is tricky to keep track of who owes what to whom . Thanks to a unified ledger , it is not necessary any more to keep multiple databases in unison .
In order to harness the blockchain for their core business , banks have been developing and adapting the technology so much that cryptocurrency enthusiasts consider what has been developed as rather blockchain inspired applications . In a first step banks have separated the currency idea from the mechanism in the background . They had realised that
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