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Blockchain in China: Will Decentralization Transform the Financial Industry?

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22 November 2016
Hua Zhang

Abstract

Blockchain technology may become the infrastructure that transforms the business model of financial institutions and markets. In the securities industry, the technology will change the issuance of securities, clearing, voting at shareholders’ meetings, and equity crowdfunding. In the banking industry, blockchain will bring changes to payments, billings, and supply chain finance.

In the report Blockchain in China, Celent examines the characteristics of blockchain applications in securities and banking. Blockchains are especially suited to areas that are dependent on credit and where there are inefficiencies in the current centralized model, including issuance and brokerage, and for payments and transactions.

“Blockchain technology is not likely to bring about financial decentralization in the short term; banks, stock exchanges, and registration and settlement institutions will still continue to play important roles in the financial system and markets,” says Hua Zhang, an analyst with Celent’s Asian Financial Services practice and author of the report.

This report provides an overview of China’s blockchain infrastructure, applications, and trends. It contains four figures and three tables.

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