According to a very prominent study done by Santander and Oliver Wyman, the blockchain will save banks about 20bn USD per year, starting 2022. These savings are a result of the tremendous efficiency that the blockchain provides which cuts operational costs. It is expected that new revenue streams as a result of the blockchain (which have not been considered in this estimate) will also help the banks.
Key learning objectives:
Briefly describe the 7 major use cases of blockchain in the finance industry