Capgemini releases blockchain research report: Financial institutions cannot ignore blockchain technology

Capgemini, a global leader in consulting technology service management, released a new report this month. It is worth noting that the report is titled "Blockchain: Technology that can transform financial services institutions" and specifically explores the impact of blockchain technology on financial services. It also advises financial services institutions "not to ignore blockchain technology."

The report points out that blockchain technology can have a wide-ranging impact on traditional financial service providers and recommends that financial institutions experiment with the various blockchain platforms currently available to evaluate their effectiveness.

Overall, the report believes that traditional financial providers will look for a technological solution that can reduce the cost of related data management in the short term and make existing management processes "more efficient, more transparent and less costly."

The report states:

“Blockchain can change the technical paradigm of financial processing and create a new model for managing transaction contracts. In the future, all processing can be carried out through a distributed system network or cloud service, eliminating the expensive cost of using data centers and hosts for data processing.”

The report also uses Capgemini’s nine-step methodology to evaluate blockchain technology vendors, suggesting that these vendors analyze the following factors: security, decentralization, privacy, scalability, usability, extensibility, cost, operational impact and community support.

In addition to focusing on the Bitcoin blockchain technology, the report also mentions other platforms including BitShares, Counterparty, Ethereum and Ripple.

The report also discusses the difference between permissionless and permissioned blockchains.

Many other companies have recently released research reports on blockchain technology, suggesting that financial institutions study blockchain technology. For example, Tabb Group, a US capital market consulting firm, and GreySpark Partners, a London capital market consulting firm.

Original article: http://www.coindesk.com/capgemini-financial-firms-cant-ignore-blockchain-tech/
By Pete Rizzo
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information