Skip to main content
main-content

Über dieses Buch

This book explores blockchain technology’s impact on banks, particularly how blockchain technology can create new opportunities for banks and poses new threats to their business. The digital revolution in the banking industry, whose customers are increasingly adapting to new technologies and new types of competitors and solutions arising in the space, has had a significant impact on the banking industry over the past few years, requiring banks to substantially rethink their business models and strategies in order to cope with these developments. The rise of blockchain’s distributed ledger technology (DLT) has also played an important role since it has the potential to change the whole banking industry in faster and more disruptive ways than ever before.

Born as the technology underlying Bitcoin, which has been used to allow the recording of cryptocurrencies transactions, blockchain can facilitate the process of recording any transaction type and track the movement of any asset, finding application in many different areas. Specifically, it has been acknowledged as a disruptive force in the financial sector and a key source of future financial market innovation with the potential to reshape existing business models in the financial services industry.

Regarding the banking industry in particular, existing literature suggests that blockchain poses new challenges and generates opportunities as well as threats. This is pushing banks to rethink their operations, business models and strategies. However, literature in this regard is still in its infancy, and we do not yet have a clear understanding of blockchain technology’s potential implications for banks. This book expands the literature on blockchain technology in banking by providing new insights into the developments, trends and challenges of blockchain in the banking industry. In particular, sheds more light on the implications of blockchain technology for banks by discussing the advantages and disadvantages related to this technology and exploring its potential impact on traditional banking business models.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction: The Rise of Fintech

Abstract
Advances in telecommunications and information technology have had a significant impact on the banking industry over the past few years. The rise of the financial technology (fintech) sector has also played an important role, with new technologies like blockchain having the potential to change the whole banking industry in faster and more disruptive ways than ever before. This chapter outlines the context of this study, presents the book’s structure and objective and highlights the main themes of all the other chapters.
Pierluigi Martino

Chapter 2. Blockchain Technology: Key Features and Main Applications

Abstract
This chapter provides a general overview of the fundamentals of blockchain technology and how it works. The goal is to make it clear why this technology is considered disruptive. In particular, the chapter discusses the key features of blockchain technology and its various types and categories; it also highlights their different characteristics, advantages and risks. Moreover, it explores the two main applications of blockchain, namely cryptocurrencies and smart contracts.
Pierluigi Martino

Chapter 3. Blockchain Technology and the Banking Industry

Abstract
Blockchain technology has been widely acknowledged as a disruptive force in the financial sector that is capable of undermining traditional business models and the technologies currently in use in many financial service transactions. This chapter focuses on blockchain technology’s potential implications for the banking industry. Building on the results of a previous study that I conducted through qualitative-based interviews with three professional bankers from different European banks tackling the challenges of blockchain, this chapter discusses the potential advantages and risks that blockchain technology poses to banks and identifies the main banking areas that can be affected.
Pierluigi Martino

Chapter 4. Blockchain and Banking Business Models

Abstract
This chapter explores the potential impact that blockchain’s DLT can have on traditional banking business models. Building on the Business Model Canvas framework developed by Osterwalder and Pigneur (Business model generation: A handbook for visionaries, game changers, and challengers. John Wiley & Sons, 2010), this chapter outlines how blockchain technology can affect all elements of a bank’s business model and lead to new business models in banking. Moreover, the chapter provides an overview of the current status of banks’ adoption of the technology and highlights their approach to handling the challenges of blockchain.
Pierluigi Martino

Chapter 5. Regulation of Blockchain Technology: An Overview

Abstract
The adoption of blockchain technology by the banking industry entails significant regulatory issues, since the technology can pose several challenges to existing legal and regulatory frameworks. This chapter addresses the main regulatory issues in blockchain technology. After presenting the main risks and problems associated with the use of the technology and its main applications, the chapter outlines the responses undertaken by regulators and authorities around the world with a specific focus on both the US and the EU context.
Pierluigi Martino

Chapter 6. Final Remarks

Abstract
This chapter provides a concluding discussion of the study. It offers remarks on the main topics of the book and summarises the potential implications of blockchain technology for traditional banking business models. Finally, it identifies avenues for future research on the topic.
Pierluigi Martino

Backmatter

Weitere Informationen

Premium Partner

    Bildnachweise