Financial Institutions To Bring Better Business Models With DLT ​

The latest edition of the sixth European Blockchain Convection (EBC) saw an insightful discussion on distributed ledger technology (DLT) and the future of financial institutions. After a few years of experimentation, a few use cases are coming up that are helping streamline the processes for these institutions, even though some experts believe they should get brave and come up with new revenue/business models using the technology. In retrospect, Juan Jimenez of Banco Santander admits that jumping into payments wasn’t the ideal use case for DLT among financial institutions. Not much progress has been seen on that front despite many institutions partnering with the likes of Ripple to access their almost instantaneous and cheap money transfers across the border.