D+H White Paper Discusses 5 Things Blockchain Must Get Right

DH Corporation (“D+H”), a leading financial technology provider, has released a white paper that discusses implications, potential and challenges that blockchain raises for banks.

The paper, entitled “Five Things Blockchain Must Get Right to Realize Its Full and Transformative Potential”, seeks to enable banks to capitalize fully on what could be the most significant development in financial services since the advent of the internet.

“The overarching promise of blockchain is to empower and enable banks to improve and modernize their entire environment of infrastructure and processes – bringing these decisively into the 21st Century, and enabling still further and faster advances in their customer offerings visible “above the waterline”, the paper noted.

Authored by Gene Neyer, Head of Product Management, Global Payments at D+H; Sue Hutchison, Senior vice President, Payments, D+H; and Moti Porath, Global Head of Pre-Sales, the paper further points out five things that blockchain must get to realize this promise:

• To Find the Right Problem
• The Dominant Technology – Or Alignment of Technologies and Use Cases – Has to Emerge
• To Retain Enough of Its Disruptive Potential When All the “Regulatory and Industry” Requirements are Added In
• It Must Be Able to Scale to Handle the Volumes and Speeds Required by the Financial Services Industry
• The Evolution of Blockchain in Banking Needs to be Aligned with Banks’ Timescales and Perspective

The technology is gradually shifting beyond hype into business reality in financial markets. As banks size up the potential of blockchain technology, they face two main challenges:

• To pinpoint and build robust use cases and business cases for investment in blockchain capabilities.
• Enablement – creating, piloting and deploying workable, scalable solutions to deliver on the business case for decades to come.

The report concluded saying, “Blockchain is technology that’s here today, and which will have an exponentially disruptive impact tomorrow. To stay ahead of the game, now’s the time to seize the opportunity it presents.”

D+H recently announced that it has successfully integrated blockchain distributed ledger technology into its global payments services hub. The company is now in active discussions with banks to implement this payment solution with integrated blockchain capabilities.