Block Chain : Opportunities for Private Enterprises in Emerging Market

Block Chain : Opportunities for Private Enterprises in Emerging Market

The six chapters that follow provide an overview of the technology (chapter one) and its unfolding applications in emerging markets (chapter two). Chapter three examines whether blockchain can be used to mitigate de-risking by financial institution...

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Main Authors: Niforos, Marina, Ramachandran, Vijaya, Rehermann, Thomas
Format: Working Paper
Language:English
Published: International Finance Corporation, Washington, D.C. 2017
Subjects:
BLOCKCHAIN
FINANCIAL SERVICES
FINANCIAL INCLUSION
EMERGING MARKETS
ACCOUNTING STANDARDS
DISTRIBUTED LEDGERS
CORRESPONDENT BANKING
FINANCIAL TECHNOLOGY
EMERGING MARKET ECONOMIES
DATA TRANSFER
ENCRYPTION TECHNOLOGY
CRYPTOCURRENCIES
RISK MANAGEMENT
DIGITAL FINANCE
AUDITING STANDARDS
ACCESS TO FINANCE
DIGITAL ID
E-SECURITY
TRANSACTION COSTS
Online Access:http://documents.worldbank.org/curated/en/841481510732701884/Block-chain-opportunities-for-private-enterprises-in-emerging-market
http://hdl.handle.net/10986/28962
id okr-10986-28962
recordtype oai_dc
spelling okr-10986-289622021-05-25T10:54:40Z Block Chain : Opportunities for Private Enterprises in Emerging Market Niforos, Marina Ramachandran, Vijaya Rehermann, Thomas BLOCKCHAIN FINANCIAL SERVICES FINANCIAL INCLUSION EMERGING MARKETS ACCOUNTING STANDARDS DISTRIBUTED LEDGERS CORRESPONDENT BANKING FINANCIAL TECHNOLOGY EMERGING MARKET ECONOMIES DATA TRANSFER ENCRYPTION TECHNOLOGY CRYPTOCURRENCIES RISK MANAGEMENT DIGITAL FINANCE AUDITING STANDARDS ACCESS TO FINANCE DIGITAL ID E-SECURITY TRANSACTION COSTS The six chapters that follow provide an overview of the technology (chapter one) and its unfolding applications in emerging markets (chapter two). Chapter three examines whether blockchain can be used to mitigate de-risking by financial institutions. Chapters four and five look more closely at the financial services sector, including an overview of how blockchain affects plays into the wider spectrum of financial technology (fintech) innovations and the resulting provision of financial services (chapter four), and an analysis of blockchain’s contribution to reaching the unbanked and underbanked in various emerging markets, including in Latin America, Asia and countries in Sub-Saharan Africa (chapter five). Finally, Chapter six looks ‘beyond fintech’ and explores how developments in applied blockchain technology can impact agribusiness, drug safety and more generally provide enforcement tools to promote the reach of sustainable and inclusive business. These chapters are merely the beginning of an exploration. Sound use cases for blockchain beyond cryptocurrencies are yet to be validated. As money pours into the latest novel technology, it is important to distinguish hype from reality, and to avoid assuming validation due to investments made under the ‘fear of missing out,’ a popular Silicon Valley investment decision heuristic. The enduring value of blockchain’s accelerated investment cycle may be that it has fostered intense experimentation and focused attention on the fundamental nature of ledgers, transactions, counterparty connectivity, and the role of trust. 2017-12-06T17:24:45Z 2017-12-06T17:24:45Z 2017-11 Working Paper http://documents.worldbank.org/curated/en/841481510732701884/Block-chain-opportunities-for-private-enterprises-in-emerging-market http://hdl.handle.net/10986/28962 English CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo International Finance Corporation International Finance Corporation, Washington, D.C. Publications & Research Publications & Research :: Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic BLOCKCHAIN
FINANCIAL SERVICES
FINANCIAL INCLUSION
EMERGING MARKETS
ACCOUNTING STANDARDS
DISTRIBUTED LEDGERS
CORRESPONDENT BANKING
FINANCIAL TECHNOLOGY
EMERGING MARKET ECONOMIES
DATA TRANSFER
ENCRYPTION TECHNOLOGY
CRYPTOCURRENCIES
RISK MANAGEMENT
DIGITAL FINANCE
AUDITING STANDARDS
ACCESS TO FINANCE
DIGITAL ID
E-SECURITY
TRANSACTION COSTS
spellingShingle BLOCKCHAIN
FINANCIAL SERVICES
FINANCIAL INCLUSION
EMERGING MARKETS
ACCOUNTING STANDARDS
DISTRIBUTED LEDGERS
CORRESPONDENT BANKING
FINANCIAL TECHNOLOGY
EMERGING MARKET ECONOMIES
DATA TRANSFER
ENCRYPTION TECHNOLOGY
CRYPTOCURRENCIES
RISK MANAGEMENT
DIGITAL FINANCE
AUDITING STANDARDS
ACCESS TO FINANCE
DIGITAL ID
E-SECURITY
TRANSACTION COSTS
Niforos, Marina
Ramachandran, Vijaya
Rehermann, Thomas
Block Chain : Opportunities for Private Enterprises in Emerging Market
description The six chapters that follow provide an overview of the technology (chapter one) and its unfolding applications in emerging markets (chapter two). Chapter three examines whether blockchain can be used to mitigate de-risking by financial institutions. Chapters four and five look more closely at the financial services sector, including an overview of how blockchain affects plays into the wider spectrum of financial technology (fintech) innovations and the resulting provision of financial services (chapter four), and an analysis of blockchain’s contribution to reaching the unbanked and underbanked in various emerging markets, including in Latin America, Asia and countries in Sub-Saharan Africa (chapter five). Finally, Chapter six looks ‘beyond fintech’ and explores how developments in applied blockchain technology can impact agribusiness, drug safety and more generally provide enforcement tools to promote the reach of sustainable and inclusive business. These chapters are merely the beginning of an exploration. Sound use cases for blockchain beyond cryptocurrencies are yet to be validated. As money pours into the latest novel technology, it is important to distinguish hype from reality, and to avoid assuming validation due to investments made under the ‘fear of missing out,’ a popular Silicon Valley investment decision heuristic. The enduring value of blockchain’s accelerated investment cycle may be that it has fostered intense experimentation and focused attention on the fundamental nature of ledgers, transactions, counterparty connectivity, and the role of trust.
format Working Paper
author Niforos, Marina
Ramachandran, Vijaya
Rehermann, Thomas
author_facet Niforos, Marina
Ramachandran, Vijaya
Rehermann, Thomas
author_sort Niforos, Marina
title Block Chain : Opportunities for Private Enterprises in Emerging Market
title_short Block Chain : Opportunities for Private Enterprises in Emerging Market
title_full Block Chain : Opportunities for Private Enterprises in Emerging Market
title_fullStr Block Chain : Opportunities for Private Enterprises in Emerging Market
title_full_unstemmed Block Chain : Opportunities for Private Enterprises in Emerging Market
title_sort block chain : opportunities for private enterprises in emerging market
publisher International Finance Corporation, Washington, D.C.
publishDate 2017
url http://documents.worldbank.org/curated/en/841481510732701884/Block-chain-opportunities-for-private-enterprises-in-emerging-market
http://hdl.handle.net/10986/28962
_version_ 1764468061359833088

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