Summary

In this first of three industry-specific chapters, we explored the impact and real-world use cases of blockchain in the financial services sector. I started the chapter by explaining the impact that can already be seen on financial markets and services, and why blockchain is a viable technology for the financial services industry, as it addresses multi-party business processes and value exchange without complex transactions and shared data schemes. I then went over some of the key benefits for the financial services sector and how blockchain is already disrupting day-to-day operations in international trade finance and cross-border payments.

Next, we explored two (technically three) real-world use cases of blockchain in the financial services industry. The first use case told the story of the BATM machine, which allows you to buy and sell cryptocurrencies with a fiat currency, and a payment gateway for web merchants to utilize IOTA for micropayments.

The second use case told the story...