Every few years, a supposedly era-defining technology is flaunted heavily in the financial services industry. Nobody is allowed to criticize it. CEOs are made to feel like idiots if they do not invest in it. A few years later, the fever will subside as mysteriously as it appeared and consumed the industry. Blockchain technology can be broken down into two categories in 2023, but only one of these will actually succeed.

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“There are two blockchain crazes in finance today. One is the decentralized, permissionless version that is going from strength to strength, driven mostly by young people working outside traditional financial institutions. The second blockchain craze, called the ‘permissioned’ version, involves finding every conceivable way to keep blockchain within the control of licensed institutions in finance. One will succeed. The other will fail,” says Emmanuel Daniel, global thought leader on the future of finance.

Blockchain has tremendous potential to transform both how we validate and execute all kinds of transactions as well as how institutions are organized. At a basic level, blockchain technology is a continuation of the evolution of data from the days when it sat inside individual computers to the present, where it is stored on a shared ledger. So what can we expect as we dive deeper into this personalization of finance?

Emmanuel Daniel is a global thought leader in the future of finance and is listed as a top 10 global influencer in the “Fintech Power50” list for 2021 and 2022. He is also a global entrepreneur, the founder of platforms such as The Asian Banker and Wealth and Society, through which Daniel has had extensive contact with leaders in banking and finance around the world. His new book, “The Great Transition: The Personalization of Finance is Here,” has already received rave reviews from Barney Frank and Richard Sandor on his insight into the personalization of finance.


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