Looking towards the horizon, the FinTech industry is set to be a strong influencing factor on the financial industry. The role that Blockchain may play for example is intriguing – and there’s little doubt that its advantages will potentially be harnessed in the not too distant future. Within a five to ten year timeframe there’s strong potential for new business models emerging and significant increases in efficiencies. However, an important question that still needs to be answered is whether the equivalent result to current ways of operating – reducing risk and lowering cost – can be achieved with such alternative technology or by improving existing technology.
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