The technology of the blockchain will change the business of large companies, said an investment Director of Deutsche Bank’s Christian Nolting. The presentation Nolting and Director for information technology Marcus müller demonstrated how to operate the digital currency and the blockchain, and tried to predict their future.
According to the presentation, opportunities of technologies on the basis of the blockchain is huge and can be fully implemented within the next years.
Bankers predicted that approximately 10% of the global gross domestic product (GDP) will be monitored or «governed» on the basis of the blockchain by 2027.
«We expect that the blockchain will sustainably change the business model of the companies. This technology allows faster and cheaper to exchange the assets and financial products between individuals without intermediaries, and also promotes information integrity», – stated in the presentation.
Experts call the blockchain, unlike cryptocurrencies, promising technology. The Bank klassificeret the digital currency’s «highly speculative», given their intrinsic value or support from the Central Bank.
«They can represent an alternative to traditional currencies, especially in countries with bad inflation, but to become a proper asset class, their use requires more regulation,» according to bankers.
According to the authors of the presentation, the digital currency as a whole can develop, and one of the main factors influencing their growth, public intervention and competition between different currencies.
Hardforce to create a new cryptocurrency was named as a potential cause for concern because it can lead to inflation, according to the presentation.
«In addition, Central banks can develop their own cryptocurrency and to replace private market,» say the bankers.