Deutsche Bank: Blockchain Turns Tried & Tested Biz Models on “Head”
The research arm of German banking giant Deutsche Bank stated in a recent report that blockchain technology is turning “tried-and-tested business models…on their head.”
The report’s author, DB Research Economist Thomas-Frank Dapp, indicates that this is why it is a good idea for many decision makers in the financial sector and beyond to keep a close eye on developments and various experiments with blockchain tech that are currently ongoing. Ideally they should themselves examine through projects or pilot studies how to put the technology into practice.
The key point about using a blockchain based on pure P2P mechanisms is that it eliminates intermediaries, spreading control across a large decentralised network of nodes and providing fundamental protection against manipulation and default.