In the New Emerging Economy, where business and technology are connected to each other through the digital economy, Blockchain creates a new paradigm in the ecosystem. With the use of Blockchain technology, transactions will be much faster, safer and much less expensive compared to centralized database systems.
Why Blockchain in Banking?
Blockchain technology has created waves around the world by providing transparency and massively reducing costs in many industries. To remain competitive, more and more banks are adopting the Blockchain technology that will allow them to further improve the speed of transactions, reduce fraud risks and boost the growth of their business by offering comprehensive payment solutions.
Regulators and central authorities also intend to take advantage of Blockchain for future-proof payment systems and encourage banks to modernize their legacy payment infrastructures for an efficient, secure and more transparent banking service.
The current business landscape sees banks trapped between an uncertain global economy and the rising costs of regulatory compliance. They face pressure to reduce costs and increase operational efficiency. There is also a threat of disintermediation on the part of financial technology companies (fintech), which seek to offer some of the same services as banks, but at lower costs. Compared with conventional database technologies and centralized systems, blockchain execution can be relatively cheap and require a considerably lower IT investment to maintain it.
What are the key drivers of Blockchain technology?
Customer need for overlay services: to meet the growing demand for immediacy of retail payments, customers expect to pay and receive their purchases as quickly as possible. Suppliers, on the other hand, want to be sure of being paid as soon as they release their goods and services.
The need for banks to remain competitive: the Blockchain technology will help banks to not only remain competitive by improving the speed of transactions, reducing the risks of fraud in processing transactions, but also increasing the growth of their business by offering comprehensive payment solutions that span the value chain to differentiate themselves from non-bank players.
Regulators should encourage competition and digitalization: the main agenda of regulators and central authorities is to promote fair competition, money laundering, client protection and the improvement of clearing and settlement mechanisms and the digitalization of the economy.
About BB Summit
BB Summit is the only conference dedicated to Blockchain in Europe for the banking sector. It has up to 20 leading speakers and experts in the field with the latest case studies, key trends, regulations and implementation guidelines.
It is expected to gather more than 120 delegates from the main banks, standard bodies, associations, regulators, selected FinTechs from Europe that are driving this technological wave.
Speakers at last year’s Show
Montse Guardia Güell | Director of Digital Services – Digital Transformation | Sabadell Bank
Francisco maroto castro | Chief of Blockchain Strategy in the Customer Solutions Area | BBVA
Nicole Sandler | Vice President of Fintech and Regtech – EMEA Legal Leader | Barclays
Stephen Moran | Head of Research and Development | Bank of Ireland
Michael Spitz | Co Head of Blockchain Lab | Commerzbank
Anna Mialet Rigau | Innovation and Business Transformation | CaixaBank
Alberto Gómez Toribio | Specialist in Blockchain and Tokenomics | Bankia
David Alonso Pérez | Project Manager | Cecabank
Fernando Lardies | Head of Online Banking | Santander Bank
Roberto Garcia | Head of Blockchain and emerging technologies | Banco Santander Group
Marco Bosma | SVP Fintech & Innovation | Rabobank
Sorin Cristescu Blockchain | Leader of the Competition Center | European Comission
Roberto Fernández Hergueta | Member of the Board | Block chain of Alastria
Mañu Noain Ignacio | Head of International Business Development | We.trade
Sergey Lukashkin | Director of digital transformation project management | VTB Bank
Marco Carmona | Senior solutions architect | Protegidity
Mat Travizano | CEO | Wibson
Grzegorz Leńkowski | Director of Instant Payments Business Line | KIR
Bernat Aguadé Estivill | Associate professor and consultant | Blockchain Institute and Technologies
Stephane Savanah | Information Technology Consultant | Independent Consulting
The first annual show was supported by Wibson and Protegrity as main sponsors.
What did the speakers talk about?
In 2018, the conference brought together the leading banking professionals and the best experts in Europe working in the Blockchain sphere. The speakers referred to the most important segments of Blockchain, DLT, how it will revitalize Trade Finance, Trade Recycling, find synergies and create networks among banks and explore the possibilities of the consortium and discussed many main trends in the industry, including the following:
IT model of Blockchain technology for large organizations
How can Blockchain be used in clearing and settlement?
What are the challenges when implementing Blockchain in compensation and settlement?
How will decentralized block chains work in the operation of the central bank model?
Discuss how Blockchain affects the existing compensation and settlement processes with respect to the speed of end-to-end processing.
How does blockchain technology reduce or eliminate the need for reconciliation, confirmation and analysis of business interruptions as key parts of a more efficient and effective liquidation and settlement process?
Sorin cristescu | Leader of the Blockchain Competition Center | European Comission
Bank modernization with blockchain to stay relevant in the digital era
The payments modernization initiatives of the industry and why banks, networks and operators see the need for a change.
The potential role of DLT in payments and how Blockchain can redraw processes, question orthodoxies and impact financial business models.
Payment processing problems as a result of the modernization of payments.
DLT as the backbone of a new payment ecosystem.
Marco Bosma | SVP Fintech and Innovation | Rabobank
Reimagining identity using Blockchain technology
How are block chains researched as solutions for KYC Space?
How can block chain design ensure compliance with data sovereignty laws while complementing existing AML solutions?
How does Blockchain improve regulatory reporting?
How is the risk of default reduced due to delayed or inaccurate reports through the use of Blockchain?
Stephan Moran | Head of Research and Development | Bank of Ireland
This conference is being organized by Kinfos Events, which is a company based in the United Kingdom. He has forged his own niche in the market to produce world-class technology conferences on three continents (North America, Europe and Australia).