3. Cryptocurrencies & The Financial Services Landscape

Prior to examining the implications and applications of blockchain technology on the financial services landscape and practitioners employed therein, it does appear appropriate to, at least at first, acknowledge the importance of cryptocurrencies on the broader conversation. Beginning during 2017, and accelerated during the fourth quarter mirroring the rise in price of Bitcoin and other cryptocurrencies, the amount of interest and investment in the broader cryptocurrency area attracted the attention of both individuals and institutions. While the cryptocurrency applications and use cases are only a part of the wider blockchain conversation and analysis, it may very well be the most high profile example of how blockchain entered the market lexicon. Drilling down and taking into account just what cryptocurrencies are, what they are not, and what they may mean for the financial services landscape appears to be an appropriate first step toward understanding how emerging technology forces are driving the profession forward.