Initial coin offerings (ICOs) extend the universe of funding sources for firms. Indeed, ICOs are a fast, cheap and convenient way to raise for firms. Also, they offer a number of potential benefits for investors such as access to a product or service or financial gain. Moreover, ICOs eliminate the need for a trusted intermediary by recording smart contracts in a public and immutable blockchain. Despite this claim and its advantages, however, ICOs still require a leap of faith from investors as important risks should not be overlooked.
Lorsque je vais à des conférences dont le sujet est « l’innovation » un des thèmes les plus populaires est la « Blockchain ». Tout le monde a son avis concernant cette nouvelle technologie mais peu de monde sait de quoi il en retourne exactement. Cet article est l’occasion de rappeler très succinctement ce qu’est la Blockchain, d’où elle vient, où elle a déjà montré un intérêt et ce que l’on en fait dans le domaine financier !
Blockchain technology looks promising to fundamentally improve the ‘know your customer’ (KYC) process with financial institutions and at the same time to empower corporates to manage and control their digital identity. A distributed shared ledger allows participating banks and other organisations, such as government institutions, to share updates on corporate profiles instantly within the parameters set by the corporate itself, and this in a privacy preserving manner and with full audit traceability. B-Hive, a fintech innovation collaborative platform, started exploring with its partners last year the creation of a blockchain platform to simplify identity management for corporates and KYC which could significantly reduce the onboarding time for business customers and reduce KYC costs significantly. Following iterative development of a proof of concept based on Hyperledger, we are now conducting extensive pilot testing with Isabel, KBC, Belfius, ING and BNP Paribas Fortis.