Is Institutional Banking Preparing for Widespread Adoption of Blockchain

Panelists speaking on The Future of Payments:

Vinod Nair, Director of Payments and Product Management, CHANGE HEALTHCARE

Arijit Das, Senior Vice President, NORTHERN TRUST

Sushil Prabhu, CEO and Founder of OPENCROWD

Danny Aranda, Senior Director of Xpring, RIPPLE

THE CRYPTO-CURIOUS

Numerous crypto-curious institutional banks gathered for Synchronize 2019, a crypto and blockchain technology-focused conference, last Wednesday in downtown Manhattan. The main topic of discussion concerned the question of when the institutional banking industry will embrace mass adoption of blockchain technology and crypto.

THE SENTIMENT

“I felt there was good solid traction in moving towards real-world use cases in production environments. The audience members were asking for help with specific technology challenges across multiple platforms.”— Sushil Prabhu, Founder and CEO at OpenCrowd

“There was healthy skepticism among many participants, but after a lot of questions, they began to appreciate the advantages and integrity of products like Diamond Standard coins and bars.” — Shawn Traynor, Head of Solutions at OpenCrowd

“A lot of people realize they need help with implementing decentralized solutions because they don’t have sufficient internal skills. Many understand now that applying blockchain to core processes they have invested in automating is not likely to succeed and are getting better at identifying greenfield opportunities and broken processes where blockchain can be used.” — Rajiv Sohal, Chief Architect at OpenCrowd

“It was encouraging to see so many folks from the enterprise specifically financial services. Some curious to know about how others are applying the technology. Some were interested in the disruption in the payment industry with the JPM coin announcement and the rumored FB coin in the making. We felt there was a good mix of skeptics and believers who were looking for ways to improve internal business process and create new businesses.” — Brad Buck, VP of Strategy and Development Solutions, at OpenCrowd

THE OPENCROWD TEAM AT SYNCHRONIZED: