Where is the blockchain heading? Whether the distributed ledger technology really has the potential to solve the issues currently faced by the banking and financial sector? These were some of the topics discussed in the last month’s Revolution Banking 2016 summit, which happened in Madrid, Spain on the 10th of May 2016.
Revolution Banking 2016 was an event focused on new technologies, innovations, and collaborations in the banking industry. Digital currency and blockchain technology are two things that can’t be ignored when it comes to banking and fintech. The discussions, during the event touched upon the subject as well.
Revolution Banking 2016 Welcomes Blockchain Technology
According to reports, the experts attending the summit seemed to agree upon the potential use cases of blockchain technology, which goes beyond banking and fintech sectors. The technology is expected to make some huge changes to many sectors across various industries like – energy, media, telecommunications, public administration, logistics, transportation and more.
The inclusion of blockchain technology into mainstream operations will allow companies to store and verify their employee records, maintain and track expenses and more, all in-house. Even if the company wants to share some records/ details with external agencies, the company can always decide what it wants