Deutsche Bank, a German global banking and financial services company has released yet another research paper about the blockchain technology entitled “Attack is Probably the Best Form of Defense,” to expound on the potential applications of the blockchain technology in the traditional financial sector and the banks’ increasing interest in the technology.
“Several financial institutions have already established what are known as innovation labs that deal exclusively with all the technology involved in the blockchain,” writes Thomas F. Dapp of Deutsche Bank on the company’s research forum. “However, stock exchanges, credit card firms, clearing houses and insurers are also increasingly focusing on the technology and analysing the potential of the P2P movement for their own purposes.”
The research further explicates the impact of the blockchain technology on intermediaries and third party operators, since a successful implementation of the technology could threaten their existence and eliminate them once and for all.
“Blockchain technology is one of the first truly disruptive ideas from the fintech sector. After all, pure blockchain theory says that not only will individual business divisions of traditional banks become redundant in future, but there could also be a real paradigm shift in the prevailing financial system, because many