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Erschienen in: Business & Information Systems Engineering 3/2017

20.03.2017 | Catchword

Blockchain

verfasst von: Michael Nofer, Peter Gomber, Oliver Hinz, Dirk Schiereck

Erschienen in: Business & Information Systems Engineering | Ausgabe 3/2017

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Blockchain technology and distributed ledgers are attracting massive attention and trigger multiple projects in different industries. However, the financial industry is seen as a primary user of the blockchain concept. This is not only due to the fact that the most well-known application of this technology is the crypto-currency Bitcoin, but it is also driven by substantial process inefficiencies and a massive cost base issue specifically in this industry. On top of this, the financial crisis revealed that even in financial services it is not always possible to identify the correct present owner of an asset. It is even more of a problem to retrace ownership over a longer chain of changing buyers in global financial transaction services: when, e.g., the US investment bank Bear Stearns failed in 2008 and was completely acquired by JP Morgan Chase, the number of shares offered to the acquirer was larger than the shares outstanding in the books of Bear Stearns. It was not possible to clarify the accounting errors and JP Morgan Chase had to bear the damage from excess (digital) shares. …
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Metadaten
Titel
Blockchain
verfasst von
Michael Nofer
Peter Gomber
Oliver Hinz
Dirk Schiereck
Publikationsdatum
20.03.2017
Verlag
Springer Fachmedien Wiesbaden
Erschienen in
Business & Information Systems Engineering / Ausgabe 3/2017
Print ISSN: 2363-7005
Elektronische ISSN: 1867-0202
DOI
https://doi.org/10.1007/s12599-017-0467-3

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