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...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
International Finance Corporation, Washington, D.C.
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/841481510732701884/Block-chain-opportunities-for-private-enterprises-in-emerging-market http://hdl.handle.net/10986/28962 |
| Summary: | 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. |
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