December 14, 2022
 min read

Fast Company: Banking blockchain - A solution in search of a problem

The promise of blockchain is not realistic in banking, and when examined critically, blockchain applications are overhyped solutions in search of a problem.

Blockchain technologies have been touted as the next disruptor that will reinvent banking and save financial institutions (FIs) significant sums of money. To the layperson, blockchain technologies represent opportunities for fortunes to be made and limitless problems to be solved through its seemingly magical technology. For banks, the blockchain allure is all too appealing: save significant sums of money in transaction and operational costs.

Unfortunately, the promise of blockchain being able to deliver this value is not realistic, and when examined critically, one can see that many of the blockchain applications created for FIs are often overhyped solutions in search of a problem.

Read the rest of the article by Chris Aliotta, CEO of Quantalytix, here.

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