Deutsche Bank Is Ready For The ‘Huge’ Blockchain Opportunities

Blockchain technology is starting to get through some of the most advanced counties in Europe. Germany is among the first ones who is prepared to make most of the blockchain opportunities. We all know that the technology has what it takes to shift the way companies conduct their business.

In a slideshow presentation that was published this month, Christian Noiting. Deutsche Bank’s global head of wealth along with Marcus Miller, global head of the CIO office, both explained how digital currencies and blockchain can be used and also predicted their success in the future.

As we can see from the actual presentation, there are endless “opportunities associated with blockchain technologies” which could be put into practice within the next few years. On top of this, the bankers predicted a 10% growth of the Gross Domestic Product (GDP) of Germany if these efforts are made official.

The presentation mentions the following:

“We expect that the blockchain will change the business model of companies in a sustained way. The blockchain technology enables a faster and cheaper exchange of assets and financial products between individuals without an [intermediary], which reduces the asymmetry of information between the individuals.”

At this point, blockchain seems like a great shot for Deutsche Bank. However, the same could not be said when it comes to cryptocurrencies. According to the bank, digital currencies are “highly speculative” especially because of the lack of intrinsic value or backing from a central bank.

Deutsche Bank is aware that cryptocurrencies could be an alternative to fiat currencies, mostly in countries with runaway inflation. However, they said that these digital coins need more regulation before they are officially accepted.