2016-07-12-奥纬咨询-Unlocking_Economic_Advantage_with_Blockchain_24页_1mb

Unlocking Economic Advantage with Blockchain: Key Insights

Main Points:

• Blockchain Credibility: Distributed ledger technology (DLT) is a real innovation, combining peer-to-peer networks, cryptography, and hashing to enable secure data sharing without a central authority.
• Cost Savings: Could reduce up to 20-25% of asset managers' costs through automation, decommissioning legacy systems, and reducing reconciliation friction.
• Revenue Opportunities: Enhanced data analytics, new products (e.g., digitized ETF-like funds), and improved client services.
• Key Stakeholders: Asset managers are urged to lead early engagement rather than waiting, while forming partnerships with providers and regulators.

Four Waves of Blockchain Deployment:

1. 2016–19: Data sharing and initial pilots.
   • Use cases: KYC updates, shared regulatory reporting.
2. 2017–25: Workflow integration.
   • Use cases: Trade messaging, collateral tracking (Wave 2).
3. 2020–30: Critical infrastructure adoption.
   • Use cases: Trade settling via distributed ledgers.
4. >2030 (Uncertain): Decentralized finance (DeFi)-style solutions.

CxO Action Plan:

1. CEO: Define vision, prioritize use cases, and set external engagement strategy.
2. CTO: Lead technical expertise, blockchain lab, and vendor partnerships.
3. COO: Ensure blockchain aligns with operating models and process redesigns.

Final Recommendations:

• Asset managers must act early to shape innovation, partnerships, and standards.
• Long-term competitive advantage depends on proactive adoption.

Source: J.P. Morgan & Oliver Wyman Joint Report (2016)