BlockChain Platforms in Financial Services: Current Perspective

Bringas Pablo Garcia, Pastor-López Iker and Psaila Giuseppe
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Bringas Pablo Garcia: University of Deusto, Bilbao-Spain
Pastor-López Iker: University of Deusto, Bilbao-Spain
Psaila Giuseppe: University of Bergamo, Bergamo-Italy

Business Systems Research, 2020, vol. 11, issue 3, 110-126

Abstract: BackgroundBlockChain technology was invented to support bitcoin, currently the most popular virtual currency. ObjectivesThe purpose of this paper is to investigate contemporary BlockChain platforms in financial services. Methods/ApproachAn unstructured literature review has been used. ResultsBlockChain in financial services is mostly associated with bitcoin exchange. However, this is a partial view of both BlockChain technology and its possible adoption for financial services: in fact, many BlockChain platforms are now available and many different financial services can be effectively supported by BlockChain platforms, even though they are not based on virtual-money exchange. Furthermore, people are attracted by the concept of smart contract, i.e., a contract that is automatically executed by computer technology, without human intervention. ConclusionsThe contribution of this paper is twofold: first of all, we introduce the four BlockChain platforms that are now most popular, discussing how they support the smart contract concept; second, we identify some typical categories of financial services, matching each of them with the platform that provides the best support for each category.

Keywords: BlockChain history; BlockChain characterization; smart contracts; perspective BlockChain in financial services (search for similar items in EconPapers)
JEL-codes: L86 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:bit:bsrysr:v:11:y:2020:i:3:p:110-126:n:2

DOI: 10.2478/bsrj-2020-0030

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