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Business & Information Systems Engineering

, Volume 59, Issue 3, pp 183–187 | Cite as

Blockchain

  • Michael Nofer
  • Peter Gomber
  • Oliver Hinz
  • Dirk Schiereck
Catchword

Blockchain – A Disruptive Technology

Blockchain technology and distributed ledgers are attracting massive attention and trigger multiple projects in different industries. However, the financial industry is seen as a primary user of the blockchain concept. This is not only due to the fact that the most well-known application of this technology is the crypto-currency Bitcoin, but it is also driven by substantial process inefficiencies and a massive cost base issue specifically in this industry. On top of this, the financial crisis revealed that even in financial services it is not always possible to identify the correct present owner of an asset. It is even more of a problem to retrace ownership over a longer chain of changing buyers in global financial transaction services: when, e.g., the US investment bank Bear Stearns failed in 2008 and was completely acquired by JP Morgan Chase, the number of shares offered to the acquirer was larger than the shares outstanding in the books of Bear...

Keywords

Blockchain Block chain Business models Disintegration Digital currency 

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Copyright information

© Springer Fachmedien Wiesbaden 2017

Authors and Affiliations

  • Michael Nofer
    • 1
  • Peter Gomber
    • 2
  • Oliver Hinz
    • 1
  • Dirk Schiereck
    • 3
  1. 1.Electronic Markets, Fachgebiet WirtschaftsinformatikTU DarmstadtDarmstadtGermany
  2. 2.E-FinanceGoethe-Universität FrankfurtFrankfurt am MainGermany
  3. 3.Corporate FinanceTU DarmstadtDarmstadtGermany

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