While blockchain has any number of potential use cases affecting every industry, no industry has been affected so immediately as finance. Despite tremendous progress in economic globalization, the global financial system is still very fragmented, with only a few players having an invitation to sit at the table with the big boys. It is evident that blockchain has clear potential to consolidate and, perhaps, even standardize financial markets all over the world. Various private enterprises and regulators have already started the journey of integrating blockchain into their business models.
Peter Borovykh, solution architect with Blockchain Driven and author of Blockchain: Applications in Finance, has been featured on BTC Manager, Fortune, Business Insider, and more. Here he educates Inside Bitcoins on how the growth and adoption of cryptocurrencies benefits global financial systems. He uses data to show that the financial industry's most pressing problem is economic slowdown, but blockchain and cryptocurrencies are the solution.