Press Release - New Aite Group Report - Blockchain: What Is It Good for? Absolutely Something

Once merely a fringe curiosity, blockchain now has the power to change everything.

Boston, December 16, 2015 - Bitcoin is the most well-known application built using blockchain, but it is far from the only application of this technology. Blockchains should be thought of as fundamental infrastructure, much like a relational database management system, such as SQL or Oracle. This fundamental infrastructure has the great potential to disrupt many aspects of financial services by lowering costs, reducing barriers to entry, supporting new products and services, and disintermediating players that have been central for many years. The latest Aite Group report, Blockchain: What Is It Good for? Absolutely Something, provides an overview of various financial services components that blockchain technology could disrupt or transform, and discusses key concerns that firms should consider when exploring the technology.

“Bitcoin has been the most visible application of the blockchain, but it and other cryptocurrencies are a tiny fraction of the technology’s potential applications,” says Ben Knieff, senior analyst on the Retail Banking & Payments team. “Many technical details and variations signify different implementations, all of which could mean potentially disruptive applications for these technologies.”

About Aite Group

Aite Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, securities & investments, and insurance, Aite Group’s analysts deliver comprehensive, actionable advice to key market participants in financial services. Headquartered in Boston with a presence in Chicago, New York, San Francisco, London, and Milan, Aite Group works with its clients as a partner, advisor, and catalyst, challenging their basic assumptions and ensuring they remain at the forefront of industry trends.​ 

​Jennifer Molgano
Marketing and PR Associate
Aite Group


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