Most banks are currently investigating or “leveraging blockchain”. Some of them are even testing “use cases” to go beyond the talk and hype. All of them are focusing on a single future scenario, which is dangerous. In this slide deck, I give banks 7 tips on what they should do with a blockchain. Made by: https://twitter.com/SDWouters

1. 7
Things banks should do with
Blockchain

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4. WWW
@sdwouters
sam.wouters@duvalunion.com
samwouters.com
CASE Presented by
Sam Wouters - Digital Transformation
Consultant and Bitcoin & Blockchain speaker

5. 7
Things banks should do with
Blockchain

6. Most banks have recently been
investigating or “leveraging”
blockchain (TECHNOLOGY)

8. The race for the blockchain ‘use case’

9. Banks try to skip learning about Bitcoin

10. 1 Later
ARTICLE
Video
Presentation

12. “Bitcoin will never scale”

13. Your best argument is technological evolution won’t happen?
Mobile
Social
Media
DigitalAnalog
Internet
Blockchain
Virtual
Reality
Nanotech
Artificial
Intelligence

14. Everyone is betting
on the same horse

15. the banks in control
of a permissioned
financial system
A future without the
“Internet of Money”
&

16. The Blockchain was invented to
eliminate “trusted” third parties
bitcoin.org/bitcoin.pdf

17. Banks are convinced they can turn this around and use
a blockchain to become more efficient and save costs

18. Dangerous: finance is the only sector in which
disintermediation is considered an opportunity

19. “The financial services
environment seized on
blockchain, because they saw
within it the possibility of using
some elements of bitcoin
without being disrupted.”
~Andreas Antonopoulos

21. The “Internet of Money”, the (open) blockchain,
was invented in 2008 as open source code
Unstoppableby default

22. Anyone can copy it, develop it and innovate
on top of it to help it solve more problems
…
github.com/bitcoin/bips
github.com/bitcoin

23. At least one open blockchain will exist
Which one(s)
is irrelevant

24. Almost nobody in
the financial sector
acknowledges this

25. I don’t expect them to
Abandon shipSupportPraise

26. I expect them to
adapt their strategy
to something that may take
away part of their business

27. Open blockchains are driven by the same force that
grew the Internet to billions of users: Open innovation

28. ?
Start thinking about what roles
you can play in an open network
?
?
?

29. The advice you will usually get for private blockchains
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf

30. What I read
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
Find something
that sounds good
in theory
Tell others to
get on board
Find how much you
can save in theory
Work together with
others who thought
of things that sound
good in theory
Try out a lot of things
to figure this
blockchain thing out
Make startups
realise they need
you for regulation
Prepare to get
regulated

31. What I read
oliverwyman.com/2016/feb/BlockChain-In-Capital-Markets.pdf
Find something
that sounds good
in theory
Tell others to
get on board
Find how much you
can save in theory
Work together with
others who thought
of things that sound
good in theory
Try out a lot of things
to figure this
blockchain thing out
Make startups
realise they need
you for regulation
Prepare to get
regulated

32. What I think you should do
Me

33. 1. Educate everyone, top to bottom, on Bitcoin & Blockchain
I can help!
Don’t be this guy
Be this guy
few financial people understand, fix this first

34. 2. Monitor the development of major cryptocurrencies
coindesk.com Gain insights to make better strategic decisions

35. 3. Onboard a Bitcoin/blockchain executive or entrepreneur
Upgrade your Digital DNA

36. 4. Integrate with an exchange or wallet
Play in a real, large scale environment

37. 5. Stimulate Bitcoin/Blockchain development
Connect with industry experts

38. 6. Create a service for Cryptocurrencies
get direct feedback from customers

39. 7. Innovate outside of your regulatory framework
Inside it you won’t keep up with open alternatives

40. 7 things banks should do with blockchain
1. Educate everyone on Bitcoin and the Blockchain
2. Monitor the development of major cryptocurrencies
3. Get an executive or entrepreneur on board
4. Integrate with an exchange or wallet
5. Stimulate Bitcoin/Blockchain development
6. Create a service for Cryptocurrencies
7. Innovate outside of your regulatory framework

41. If you go the private distributed ledger way, expect:
Industry standards on many levels (who has
access, how to update, who is responsible…)
Complying with all (international) financial
laws
Intervention from regulators, governments
and others, weakening security
Shifting the global financial system
to distributed ledgers
And more…

42. WWW
@sdwouters
sam.wouters@duvalunion.com
samwouters.com
Thanks!
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