@SDWOUTERS
Your best argument is technological evolution won’t happen?
Mobile
Social Media
DigitalAnalogInternet
Blockchain
Virtual Reality
Nanotech
Artificial Intelligence
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the banks in control of a permissioned financial system
A future without the “Internet of Money”
&
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@SDWOUTERS
The Blockchain was invented to eliminate “trusted” third parties
bitcoin.org/bitcoin.pdf
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Banks are convinced they can turn this around and use a blockchain to INCREASE EFFICIENCY & save costs
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@SDWOUTERS
Dangerous: finance is the only sector in which disintermediation is considered an opportunity
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@SDWOUTERS
“The financial services environment seized on blockchain, because they saw within it the possibility of using some elements of bitcoin without being disrupted.”
~Andreas Antonopoulos
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@SDWOUTERS
The “Internet of Money”, the (open) blockchain, was invented in 2008 as open source code
Pandora’s Box has opened
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@SDWOUTERS
Anyone can copy it, develop it and innovate on top of it to help it solve more problems
…
github.com/bitcoin/bips
github.com/bitcoin
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I expect them to
adapt their strategy to something that may take away part of their business
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@SDWOUTERS
Open blockchains are driven by the same force that grew the Internet to billions of users: Open innovation
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The advice you will usually get for private blockchains
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
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What I read
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
Find something that sounds good
in theory
Tell others to get on board
Find how much you can save in theory
Work together with others who thought of things that sound
good in theory
Try out a lot of things to figure this
blockchain thing out
Make startups realise they need you for regulation
Prepare to get regulated
@SDWOUTERS
What I read
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
Find something that sounds good
in theory
Tell others to get on board
Find how much you can save in theory
Work together with others who thought of things that sound
good in theory
Try out a lot of things to figure this
blockchain thing out
Make startups realise they need you for regulation
Prepare to get regulated
@SDWOUTERS
1. Educate everyone, top to bottom, on Bitcoin & Blockchain
Don’t be this guy
Be this guy
Few financial people REALLY
understand them, fix this first
@SDWOUTERS
2. Monitor the development of major cryptocurrencies
Gain insights to make better strategic decisions
@SDWOUTERS
7 things banks should do with blockchain
1. Educate everyone on Bitcoin and the Blockchain
2. Monitor the development of major cryptocurrencies
3. Get an executive or entrepreneur on board
4. Integrate with an exchange or wallet
5. Stimulate Bitcoin/Blockchain development
6. Create a service for Cryptocurrencies
7. Innovate outside of your regulatory framework
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If you go the private distributed ledger way, expect:
Industry standards on many levels (who has access, how to update, who is responsible…)
Complying with all (international) financial laws
Intervention from regulators, governments and others, weakening security
Shifting the global financial system to distributed ledgers
And more…
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