Block Chain and Finance - Case Study ICON Network

목차

01. Technology and Finance
02. ICON Network
03. Case 1. Insurance Claim
04. Case 2. Authentication Service
05. Conclusion

본문내용

01. Technology and Finance
Blockchain technology is not a panacea; instead it should be viewed as one of many technologies that will form the foundation of next‐generation financial services infrastructure
Over the last 50 years, technology innovation has been fundamental to financial services industry transformation. Today, multiple technologies poised to drive the next wave of financial services innovation are converging in maturity.
Blockchain is one of many transformative new technologies that will shape future financial services infrastructure and should be seen as part of a toolbox.

Blockchain technology has great potential to drive simplicity and efficiency through the establishment of new financial services infrastructure and processes
Six key value drivers for DLT were identified through the in‐depth examination of use cases from across financial services from WEF Research.

Applications of Blockchain technology will differ by use case, each leveraging the technology in different ways for a diverse range of benefits

Granular assessments at the use-case level are necessary to determine which blockchain opportunities to pursue.

McKinsey evaluated and stress tested the impact and feasibility of each of these use cases to understand better blockchain’s overall strategic value and how to capture it.

According to the review, Financial Services has both High Impact and Feasibility of using Blockchain Technology

Further more, analysis suggests the following three key insights on the strategic value of blockchain:

- Blockchain does not have to be a disintermediator to generate value, a fact that encourages permissioned commercial applications.
- Blockchain’s short-term value will be predominantly in reducing cost before creating transformative business models.
- Blockchain is still three to five years away from feasibility at scale, primarily because of the difficulty of resolving the “coopetition” paradox to establish common standards.

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