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Blockchain Technology and New Business Models for Banks in the Financial Services Industry
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Author(s): Vincent Sabourin (ESG University of Quebec at Montreal, Canada)and Mike Cyrille Aka-Brou (ESG University of Quebec at Montreal, Canada)
Copyright: 2021
Pages: 38
Source title:
Influence of FinTech on Management Transformation
Source Author(s)/Editor(s): Amira Sghari (Faculty of Economics and Management, University of Sfax, Tunisia)and Karim Mezghani (Al Imam Mohammad Ibn Saud Islamic University, Saudi Arabia & University of Sfax, Tunisia)
DOI: 10.4018/978-1-7998-7110-1.ch001
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Abstract
In recent years, the financial technology of blockchain has become a disruptive innovation that is transforming the management of banks. If blockchain represents an opportunity for financial services, it also represents a severe threat of financial disintermediation. What are the business models available to banks when deploying a business model to integrate the blockchain technology? In this chapter, the authors surveyed the strategic intent of 45 international banks for blockchain technology and analyzed the different business models that might facilitate a management transformation for the banking industry. They developed a taxonomy of five different business models. They were labeled as the following: the coordinators, the integrators, the solution providers, the disrupters, and the explorers.
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