Financial services and related services industry is arguably one of the most regulated industry, with very high level barriers to entry for a new kind service or new technology. Even though highly regulated, these services have always been in shades. In a survey, by PwC they found a shocking fact that banking, capital market, investment management and financial services had over 45-50% had economic crimes during the period of the survey(PwC, 2014b).
Internet revolution has enticed us to get more in-depth information on a particular subject, with cost no cost. The technology in Bitcoin exhibited programmable trust without relying on a powerful central monitoring authority. The Bitcoin blockchain has revealed its ability to offer a single source of truth that can be shared among all parties(Bogart & Rice, 2015). …show more content…
The rise and acceptance of Bitcoin, researches and applications working on blockchain technology and keep this topic promising for research. The research also investigates how this technology can be utilized financial service provider to improve efficiency and also how this technology can be used to address other social issues. The researches and knowledge around the technology is so alluring and could have broader social applications in replacing trust. In this context, the topic motivates me to explore the relevance of Blockchain technology to financial services.
2.1 Research Questions
The research goal of this master thesis is to understand the blockchain technology and answer the following questions detail in relations with the current scenario.
1. Why Blockchain technology is relevant for financial services
Internet revolution has enticed us to get more in-depth information on a particular subject, with cost no cost. The technology in Bitcoin exhibited programmable trust without relying on a powerful central monitoring authority. The Bitcoin blockchain has revealed its ability to offer a single source of truth that can be shared among all parties(Bogart & Rice, 2015). …show more content…
The rise and acceptance of Bitcoin, researches and applications working on blockchain technology and keep this topic promising for research. The research also investigates how this technology can be utilized financial service provider to improve efficiency and also how this technology can be used to address other social issues. The researches and knowledge around the technology is so alluring and could have broader social applications in replacing trust. In this context, the topic motivates me to explore the relevance of Blockchain technology to financial services.
2.1 Research Questions
The research goal of this master thesis is to understand the blockchain technology and answer the following questions detail in relations with the current scenario.
1. Why Blockchain technology is relevant for financial services