Is the public ledger associated with the bitcoin cryptocurrency right to be heralded as the answer to banking security problems?
There’s no doubting that blockchain technology has been on the minds of forward thinkers in the financial sector ever since bitcoin first made an appearance in 2009. The idea of such a distributed ledger has certainly made an impact, not least when it comes to banking security where many are heralding it as the next big thing.
Kim Sgarlata, a partner at Capco, is among those who see blockchain as having huge potential to move the financial sector into a more secure model. “Blockchain technology can promote security in a number of ways,” she insists, “such as enabling the capability to work with a transparent single source of truth.”