As per McKinsey, 10 things you should know about Blockchain

Talenthon ICO is not the only good thing happening to cryptocurrency World

10 things you should know about Blockchain

1. Blockchain is a nascent technology with the potential to bring about step-function improvements in efficiency and security to the financial industry — or it could simply be over-hyped and unnecessary

2. Investment in blockchain is gaining momentum (~$600 MM of VC investment in 2014Q4–2015Q3) and is expected to rapidly grow; the banking industry is expected to spend ~$400MM by 2019 — As we write this article, the size of whole crypto market is around $400MM

3. >60 Nascent use cases exist across multiple industries with a primary focus in financial services (~40%) and cost reduction (~70%), The technology is creating internet of value

4. Blockchain has likely the highest potential in products like private stock, repo and syndicated lending and in the post trade part of the value chain i.e., reconciliation, settlement and corporate actions

5. 70% financial organizations are in the early stages of experimentation but there is no active broad commercial application in capital markets today. The industry will be at al together a different level once these blockchain applications start to deliver

6. Most of the impact from blockchain solutions is likely to come from payments, and capital markets, and preliminary sizing of 4 use cases in these areas suggest significant value creation — the estimated impact of those use cases alone is $70-$85 Billion but feasibility varies significantly

7. Blockchain is not the silver bullet solution for all the pain points in the industry. It has to leverage technologies like AI & Bigdata to deliver robost solutions. Like used cases of Talenthon which uses AI & machine learning in their assessments to analyse candidate quality

8. Enabling collaboration, shaping a positive regulatory environment and clear business cases justifying the transition costs will pose the biggest challenges to implementation

9. By overcoming these challenges, blockchain technology could reach its potential in 5 years

10. Organizations can unlock the value of blockchain through a five-step journey: Education, Strategy, Solution Design, Implementation, and Approach

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