Blockchain Technology - A Threat to, or an Opportunity for, Legacy Banking, Clearing & other Financial Services?

Blockchain Technology and Financial Services

"The blockchain technology, with its first iteration in the form of the cryptocurrency bitcoin, is a unique technological breakthrough that is a revolutionary gateway to a new era of decentralised banking, money, clearing, stock markets, insurance and even social networks and national governments.

Whilst Bitcoin itself is gradually becoming better known and more widely used, it's the underlying ‘blockchain’ technology within the bitcoin protocol –that is now gathering increasing attention for its ability to support far more complex transactions and relationships than pure value transfers."

"So can the Blockchain protocol create more cost-effective and decentralised financial services? Ethereum, an open-source project, is looking to provide the platform and the answer. And not just for financial services."

Read the full article here

also

The coming digital anarchy

"Bitcoin is giving banks a run for their money. Now the same technology threatens to eradicate social networks, stock markets, even national governments. Are we heading towards an anarchic future where centralised power of any kind will dissolve?" - read the full story in The Telegraph June 2014