Fintech Awards 2019

www.wealthandfinance-news.com 8 Wealth & Finance International - Fintech Awards 2019 Taking a comprehensive approach to all things Blockchain, the firm can also provide training so that any clients’ team can build the solution or can discuss a plan to build the solution for you. This training can cover everything from the basic fundamentals of Blockchain and how to plan a solution architecture to developing, testing and implementing the solution in the real world. As the industry is still developing, new training solutions are few and far between, and as such Blockchain Scotland is working to constantly adapt and offer clients the training and support they need long- term. Once clients and their teams have been trained to the level they require, the firm can then further assist by guiding them on their way to the required solution. Such an integrated offering is helping drive even greater acceptance of this innovative technology. Blockchain within the fintech space has huge impacts ranging from cost savings to cutting bureaucracy and can make banking a more efficient experience for bankers, businesses and consumers alike. It can also reduce fraud and cyber-attacks increasing customer trust. For example, incorporating customer loyalty programs onto a Blockchain solution has the potential to enhance customer experience, reducing costs and providing a smoother customer experience that can process a frictionless system in real-time. Cybersecurity is also another key area in which Blockchain can drive change and increase efficiency. As more people move towards mobile banking and increased technology in everyday life, Blockchain solutions should be implemented to reduce costs and inefficiencies in the banking sector and greatly enhance the ability to resist cyber-attacks, breaches of data security and fraud. The introduction of Smart Contracts is just one example of an invention supported by blockchain and we anticipate many other innovations in the future. As a thought-leader in the market, Blockchain Scotland is already taking steps to make Identity management and Secure Voting possible via a blockchain based solution, the end-user’s ID along with verification of the ID using Government Services are logged and stored on the blockchain. Fundamentally, Blockchain is comparable to the beginning of the internet. For the team at Blockchain Scotland has been a very challenging yet exciting industry to be involved in. There are new developments in blockchain as it constantly evolves to become more advanced, efficient and widespread. It is clearly a technology that has already been positively disruptive to the current fintech market, and Blockchain Scotland team are proud to be at the forefront of emerging market developments and driving the financial space towards innovation through the use of its cutting- edge technology. Ultimately, Blockchain Scotland is on a mission to become market leaders in the development, implementation, training and education of blockchain solutions. The firm’s dedicated team passionately believes in the many benefits that Blockchain within the fintech space has huge impacts ranging from cost savings to cutting bureaucracy and can make banking a more efficient experience for bankers, businesses and consumers alike. It can also reduce fraud and cyber- attacks increasing customer trust.