Financial services infrastructure
Blockchain empowers businesses to reimagine how financial transactions are processed, from payments to post-trade processing.
Blockchain empowers businesses to reimagine how financial transactions are processed, from payments to post-trade processing.
For organizations across the globe blockchain represents a completely new way to think about data and operating models. These opportunities vary widely and include the use cases below and more.
Today, moving money requires complex messaging. In the future, digital currency could reduce exceptions and reconciliation.
Purchase order, bill of lading and letter of credit for a transaction is verified on blockchain leading to fewer errors and disputes.
Security, transparency and speed of distributed ledgers enable cheaper, faster and safer settlement in cross-border and mobile payments.
Blockchain is driving real transformation in the enterprise. Whether it be a corporation, government or charitable foundation there are distinct requirements for operational integrity and support, data segregation, governance and scalability. With these requirements, most blockchains are implemented as permissioned systems.
In a public or permissionless blockchain anyone can participate without a specific identity. Public blockchains typically involve a native cryptocurrency with consensus based on proof of work. A permissioned blockchain secures interactions among a group of known, identified participants having a common goal but no systematic trust, such as businesses that exchange funds, goods, or information. With governance covering the identities of the peers, a permissioned blockchain can use more efficient means of consensus.
Watch as Simon Whitehouse, senior managing director, Global Blockchain Lead discusses enterprise permissioned systems at the MIT Technology Review.
Accenture Global Blockchain Lead Simon Whitehouse discusses enterprise permissioned systems at the MIT Technology Review. See more.
View TranscriptMoney as a medium of exchange has seen little innovation since the introduction of paper currencies and cashless transfers in the nineteenth century. However, in the last two years new financial ecosystems driven by technology have uncovered new functionalities for money. The role of central bank money continues to increase. Having moved beyond the talk of private crypto-assets, its unique properties remain essential for financial stability and the operation of national and international payment transactions. The requirements for what money does are changing and blockchain is getting attention as the technology to help meet those requirements.
Central bank digital currency has been actively explored to prove security, scalability and resiliency of the systems and technology.
Blockchain’s unique attributes provide new infrastructure for next generation business applications. But it also creates unique security challenges.
Blockchain’s ability to securely expand an AI implementation’s access to data across organizations will drive a whole new set of insights and value.
Blockchain is changing the way the world lives and works—but it's only a means to an end, not the end itself. We can help you apply this technology to drive your transformation into the future.