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NEWS
Credit Suisse keen on blockchain, not Bitcoin
extent to which Bitcoin and blockchain present a disruptive threat and/or opportunity to incumbents operating in the payments, capital markets, financial services and media ecosystems.
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A key finding is that there are various barriers to mainstream Bitcoin adoption, meaning it will remain a niche payment network. Yet the underlying blockchain technology could prove to be truly disruptive. It is less relevant in sectors where there has already been significant investment and innovation; e.g. consumer payments and pre-trade execution already takes place in milliseconds. However, in areas where there is more friction, blockchain has huge potential.
According to the report: ‘We see the biggest impact in areas like financial services, exchanges and post trade settlement, where T+3 settlement looks ripe for optimisation. In particular, we see scope for vertical integration across exchanges, clearing, settlement and registration. The winners and losers from this consolidation are still not clear, but the market appears to be overlooking risks for exchanges and, we would argue, unfairly pricing the registrars (Equiniti and Computershare) for
new report by Credit Suisse examines the
disappointment. With the Australian Stock Exchange (ASX) due to report the results of its blockchain trials in 2017, we believe this will be a key debate for investors over the next 18 months’.
Australia appears to be leading global blockchain innovation, Credit Suisse observes, and the ASX is currently partnering with Digital Asset to develop solutions based on distributed ledger technology. It estimates that blockchain could lower the cost of the Australian equity markets through lower costs and a reduction in risk. This potentially reduces the revenue opportunity for players across the value chain, although new technology will also create new opportunities.
Scott Thompson Lending Club CFO departs as losses widen
and CEO, online lending platform operator, Lending Club, has parted ways with its CFO. Carrie Dolan, who had held the role since 2010, has resigned to pursue a new opportunity, with Lending Club appointing Bradley Coleman to Principal Accounting Officer and Interim CFO.
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www.ibsintelligence.com © IBS Intelligence 2016
“Carrie was integral to our maturity and growth over the past six years,” says Scott Sanborn, CEO and
ust three months after ousting its Founder
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