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Blockchain could save investment banks up to $12B a year: Accenture

reuters.com

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Re: Blockchain could save investment banks up to $12B a year: Accenture

#2

Post by mholmes680 »

"Their estimates did not include potential costs and investments required to deploy the technology."

well, of course not... because then there would be no dramatic teaser headline. Accenture money grab here - presumably they've positioned themselves accordingly already?

Re: Blockchain could save investment banks up to $12B a year: Accenture

#3

Post by saemil »

mholmes680 wrote: post #2

"Their estimates did not include potential costs and investments required to deploy the technology." well, of course not... because then there would be no dramatic teaser headline. Accenture money grab here - presumably they've positioned themselves accordingly already?

I agree with your sentiment. I do not see a scenario where financial institutions would agree to put their transactions into a distributed ledger with copies of the data (even encrypted) held by their competitors. If the financial institutions limit the ledger to computers within their control, what would be the benefit over a clustered database environment (I am assuming that most large financial institutions already have these).

Re: Blockchain could save investment banks up to $12B a year: Accenture

#5

Post by godzillabrennus »

Blockchain is so badly needed in the startup world when allocating shares of a company. Eshares is promising but too pricey for bootstrapping entrepreneurs.

An open standard with distributed tracking of shares allocated for any given company would help institute much more trust into startup investing. Right now it's kind of tough to do due dilligence on a small private company.

Re: Blockchain could save investment banks up to $12B a year: Accenture

#7

Post by amluto »

godzillabrennus wrote: post #5

Blockchain is so badly needed in the startup world when allocating shares of a company. Eshares is promising but too pricey for bootstrapping entrepreneurs. An open standard with distributed tracking of shares allocated for any given company would help institute much more trust into startup investing. Right now it's kind of tough to do due dilligence on a small private company.

> Blockchain is so badly needed in the startup world when allocating shares of a company. Eshares is promising but too pricey for bootstrapping entrepreneurs.

What, exactly, does a blockchain have to do with this? ISTM all that's needed is a spreadsheet with an audit log, and even the audit log is somewhat optional.

Re: Blockchain could save investment banks up to $12B a year: Accenture

#10

Post by chejazi »

saemil wrote: post #3
mholmes680 wrote: post #2

"Their estimates did not include potential costs and investments required to deploy the technology." well, of course not... because then there would be no dramatic teaser headline. Accenture money grab here - presumably they've positioned themselves accordingly already?

I agree with your sentiment. I do not see a scenario where financial institutions would agree to put their transactions into a distributed ledger with copies of the data (even encrypted) held by their competitors. If the financial institutions limit the ledger to computers within their control, what would be the benefit over a clustered database environment (I am assuming that most large financial institutions alread…

> what would be the benefit over a clustered database

With a blockchain, the database and the revision history would be part of the same artifact. Not sure how advantageous this is, however.

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