Oliver bussmann blockchain login

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Content:

• Strategieberatung von EY-Parthenon
• CIO says blockchain ‘will heavily impact’ financial services
• Interview with Oliver Bussmann
• Navigation
• Oliver T. Bussmann: «Why Blockchain Won't Disrupt Banks First»
• The Future of Time
• New association strengthens Switzerland's position as leading blockchain ecosystem

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Strategieberatung von EY-Parthenon

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Make the most of Lead your own way in business and beyond with our unrivalled journalism. Since the blockchain — the technology underpinning the digital currency bitcoin — first emerged, people have recognised its potential to transform financial services.

The banks have been paying attention. Around the world, they have been setting up labs to test blockchain solutions, carrying out proofs of concept and publishing papers. They are also forming or joining blockchain consortiums, like R3 or the Hyperledger Project, to better work together.

Regulators have taken a keen, often quite supportive, interest as well. This work is not just theoretical. From Nasdaq to Ripple, we already see live blockchain-based platforms.

IBM recently said that 15 per cent of banks it surveyed expect to be live with solutions next year. A third of the banks that participated told us they had serious blockchain proofs of concept in the works. So are we about to see blockchain break into the banking mainstream? As a strong believer in the potential of this technology, I truly wish we were.

But as the former group chief information officer of UBS , where we championed blockchain early on, and as an adviser to banks and fintech companies today, I am cautious. My experience tells me it may be a while before we see large-scale adoption in the financial industry. Just consider what is really happening at the moment. Yes, Ripple has made fantastic strides with an excellent, market ready, platform. And its network currently includes 12 of the top 50 banks.

IBM says 15 per cent of survey recipients may go live next year. They are engaged in open dialogue and are offering sandbox environments , where banks can test platforms without fear of breaking any rules. But sandboxes are for safe play, not for real work. And rightly so. Their primary remit is to protect consumers. Regulators will want to be sure that large-scale platforms are absolutely bullet proof before they are released into the wild. And, if platforms want to reach across borders, they will need regulatory sign-off — and certainty — from all jurisdictions involved.

This will not happen overnight. Banks will be keen to ensure that any major new platforms are secureas well. That means extensive internal validation and approval. An industry like finance, which is so heavily invested in centralised structures, may find it difficult to change its mindset. This is not to say that blockchain is not coming. The incentives are too large. This will drive adoption.

Over the next 12 to 24 months, I expect we will see significant, if still limited, moves to blockchain-based platforms in areas like cross-border payments or trade finance. But financial services as a whole is much broader than just these isolated use cases.

I therefore expect widespread blockchain implementation in other industries first — for example supply chain management, healthcare, real estate, or e-governance. No doubt financial services will follow; when it comes to blockchain, I do not think you can escape destiny.

But the dream of a fully blockchain-enabled financial system will take some time to fulfil. Oliver Bussmann is the founder and managing partner of Bussmann Advisory. Manage cookies. Get limited time offer. Opinion Special Report.

It will take longer than expected for the technology to go mainstream, writes Oliver Bussmann. Share on twitter opens new window Share on facebook opens new window Share on linkedin opens new window Share on whatsapp opens new window.

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CIO says blockchain ‘will heavily impact’ financial services

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Interview with Oliver Bussmann

We use cookies for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used. Make the most of Lead your own way in business and beyond with our unrivalled journalism. Since the blockchain — the technology underpinning the digital currency bitcoin — first emerged, people have recognised its potential to transform financial services. The banks have been paying attention. Around the world, they have been setting up labs to test blockchain solutions, carrying out proofs of concept and publishing papers. They are also forming or joining blockchain consortiums, like R3 or the Hyperledger Project, to better work together. Regulators have taken a keen, often quite supportive, interest as well. This work is not just theoretical.

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Today the Observatory and Forum is pleased to announce progress on a number of its initial milestones. Chief among these is the formation of two Working Groups that will explore critical themes in blockchain in Europe, as well as the announcement of its first European blockchain workshop. Each Working Group consists of 30 members chosen from over applications received by the Observatory and Forum during the open call that took place between March 15 and April 9, The selection process focused on expertise as well as diversity of background and experience.

Oliver T. Bussmann: «Why Blockchain Won't Disrupt Banks First»

Like a Chicken McNugget. The hacker would have to turn that Chicken McNugget back into a chicken. Pretty much any place where information or value is exchanged — and where middle layers of verification add friction — blockchain could play a major role. By creating an encrypted ledger of transactions, confirmed across vast numbers of computers all in consensus, blockchain ensures trust. Srinivasan Sriram, founder and CEO of Skuchain, also shared pioneering solutions for one specific use case: supply chains. The goal was to establish the great potential of blockchain, while offering some practical advice on using it to solve real-world problems.

The Future of Time

Ambrosus, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins. One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private permissioned. In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in In exchange for their work, the nodes receive rewards in the form of crypto tokens. By storing data via a peer-to-peer network P2P , blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.

New association strengthens Switzerland's position as leading blockchain ecosystem

I am particularly proud of the great board of advisors we can count on for this very innovative project we are working on. The base of the device is a very fine watchmaking timepiece, hand-finished and equipped with an in-house manually wound mechanical movement. The first prototype will be revealed during the second quarter of ….

Recommended by Colombia. The real estate firm sees the datacenter business in India as a big growth opportunity as it sets foot in the country with the first datacenter in Mumbai. One97 Communications says the decision was made to focus the efforts of Paytm Labs, the Canada division, on opportunities in India and that it does not expect any job loss from this. Bussmann though praised the joint efforts of the technology providers and banking regulators around the world involving into open dialogue and experimenting with sandbox environments as test platforms, but flagged some practical issues that would delay the blockchain technology adoption globally. Follow and connect with us on Twitter , Facebook , Linkedin , Youtube.

Subscriber Account active since. The former head of technology at one of the largest banks in the world has joined the team behind IOTA, the ninth largest cryptocurrency on the market. Bussmann, who joined the bank after holding a number of top tech jobs at companies such as IBM and Deutsche Bank, led IT strategy and introduced blockchain, the technology behind cryptocurrencies like IOTA and bitcoin, to the bank. Since Bussmann left UBS, he has dived even deeper into the world of cryptocurrencies and blockchain, serving as the president of Crypto Valley Association since the beginning of He also is the founder of an advisory firm, Bussmann Advisory.

Blockchain is the new internet. With countless Initial Coin Offerings ICO bootstrapping start-ups, blockchains and protocols overtaking Venture Capital by a factor of 3 within only months of reaching its volume. Following the explosive growth in the first half of , the regulations started coming in from all parts of the world in the second half of to try and reign in the booming sector.