Finance industry needs to gear up for coming blockchain wave

BLOCKCHAIN, which is a decentralised public ledger of transactions that no person or company owns or controls, is the next big thing in the global financial industry.

The importance of this technology cannot be overstated. By its very nature, blockchain can be global and accessible to everyone, much like the Internet on which it runs. The World Economic Forum has listed blockchain in its list of the top 10 emerging technologies of 2016. Blockchain can be used peer-to-peer between individuals as well as by institutions without the need for an intermediary. It can also help modernise legacy banking infrastructure, accelerate settlements and streamline stock exch…