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. https://twitter.com/SDWouters http://samwouters.com/

1. @SDWOUTERS
7
Things banks should do with
Blockchain

2. @SDWOUTERS
Most banks have recently been
investigating or “leveraging”
blockchain (TECHNOLOGY)

3. @SDWOUTERS

4. @SDWOUTERS
The race for the blockchain ‘use case’

5. @SDWOUTERS
Banks try to skip learning about Bitcoin
@SDWOUTERS

6. @SDWOUTERS
1 Later
ARTICLE
Video
Presentation

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8. @SDWOUTERS
“Bitcoin will never scale”

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

10. @SDWOUTERS
Everyone is betting
on the same horse
@SDWOUTERS

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

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

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Banks are convinced they can turn this around and
use a blockchain to INCREASE EFFICIENCY & save costs
@SDWOUTERS

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Dangerous: finance is the only sector in which
disintermediation is considered an opportunity
@SDWOUTERS

15. @SDWOUTERS
“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
@SDWOUTERS

16. @SDWOUTERS

17. @SDWOUTERS
The “Internet of Money”, the (open) blockchain,
was invented in 2008 as open source code
Pandora’s Box has opened
@SDWOUTERS

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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

19. @SDWOUTERS
At least one open blockchain will exist
Which one(s)
is irrelevant ?

20. @SDWOUTERS
Almost nobody in
the financial sector
acknowledges this
@SDWOUTERS

21. @SDWOUTERS
I don’t expect them to
Abandon shipSupportPraise

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

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

24. @SDWOUTERS
?
Start thinking about what roles
you can play in an open network
?
?
?
@SDWOUTERS

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

26. @SDWOUTERS
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

27. @SDWOUTERS
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

28. @SDWOUTERS What I think you should do
Me
@SDWOUTERS

29. @SDWOUTERS
1. Educate everyone, top to bottom, on Bitcoin & Blockchain
Don’t be this guy
Be this guy
Few financial people REALLY
understand them, fix this first

30. @SDWOUTERS
2. Monitor the development of major cryptocurrencies
Gain insights to make
better strategic decisions

31. @SDWOUTERS
3. Onboard a Bitcoin/blockchain executive or entrepreneur
Upgrade your Digital DNA

32. @SDWOUTERS
4. Integrate with an exchange or wallet
Play in a real-time environment

33. @SDWOUTERS
5. Stimulate Bitcoin/Blockchain development
Connect with industry experts

34. @SDWOUTERS
6. Create a service for Cryptocurrencies
Get direct feedback from customers

35. @SDWOUTERS
7. Innovate outside of your regulatory framework
To keep up with open alternatives

36. @SDWOUTERS
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

37. @SDWOUTERS
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…

38. Thanks!
Want to learn more?
WWW
@sdwouters
sam.wouters@duvalunion.com
samwouters.com