Steve Tendon has been invited to talk at the Finance and Investments Forum, 2016 to be held at The Laguna Suite in SmartCity (Malta) on Friday June 17, 2016.
Steve will deliver a talk entitled “Blockchain: The unstoppable disruption of the financial services industry”. Building on his keen interest in organizational performance, Steve will explore how the Blockchain technologies can dramatically improve the performance in the global financial services sector.
The Blockchain has the potential to reduce friction, lower costs, boost growth, and increase transparency for all operators in financial services. The blockchain will collapse settlement times, reduce or eliminate the need for trust, and remove all intermediaries and arbiters of access to financial services. The technology will promote new models of peer-to-peer financing. The increased transparency will affect anti-money laundering (AML) and know-your-customer (KYC) on-boarding processes. Insurance and actuarial risk management will be based on more accurate and reliable data. Accounting will be able to produce real-time and transparent audits and financial reporting. Regulators will be able to better scrutinize financial actions of all economic agents.
The Blockchain can boost growth by making financial services accessible to the world’s 2 billion people who actually are un-banked or under-banked. This will allow for strong economic development in the poorest countries, and provide a real alternative to economic migration.
Ultimately, the Blockchain has the potential to increase performance of the economy on a global scale, leading to higher wealth and prosperity in a more equitable fashion.