In this interview from our Merge event in London last month, the CEO of Fnality, Rhomaios Ram, talks about moving the banking system to real time settlement and what that will mean for the velocity of money
The web of investment bank technology, there are 20 or more core vendors on which systems run. Adding Blockchain to the mix merely adds a 21st system, which is by design incompatible with everything else. Thus enterprise chain projects have been focusing on integration and proofs of concepts, not re-engineering the core. But we know how this plays out -- as it has over and over again across Fintech. Digitizing "unimportant" channels and hoping for them to succeed simply doesn't work. See JP Morgan giving up on Finn, or Northern Trust capitulating its pioneering idea into Broadridge, or any other number of examples from Bloomberg to LPL Financial. Even the struggles of Digital Asset could be used as an example of the danger of working oneself into an existing web of solutions, and trying to preserve their dependencies.
Blockchain could provide significant opportunities for inter-bank transactions. In Fintech Nexus' recent London meet-up, we found out how.