2017 has been a landmark year for Bitcoin. The cryptocurrency has seen its value skyrocket in the last eight months, jumping from below $900 at the start of the year to well over $4,000!
 | | Insights Beyond the Headlines | | Bitcoin has been a major fintech story throughout 2017 - but how does it actually work? 2017 has been a landmark year for Bitcoin. The cryptocurrency has seen its value skyrocket in the last eight months, jumping from below $900 at the start of the year to well over $4,000!
It hasn't just been Bitcoin taking advantage of this cryptocurrency revolution - US-based cryptocurrency exchange Coinbase has now achieved unicorn status after its latest funding round valued the exchange at $1.6 billion.
Earlier this month, Bitcoin split in two, becoming Bitcoin and Bitcoin Cash. Many expect that Bitcoin Cash, which uses updated software, will breathe new life into Bitcoin by solving some if its issues, most notably its slow transaction speeds.
But how does it actually work? And why does it matter?
Blockchain technology, which is best known for powering Bitcoin and other cryptocurrencies, is gaining steam among finance firms because of its potential to streamline processes and increase efficiency.
In BI Intelligence's Blockchain in Banking Report, we outline why and in what ways banks are exploring blockchain technology, provide details on three major banks' blockchain efforts based on in-depth interviews, and highlight other notable blockchain-based experiments underway by global banks. It also discusses the likely trends that will emerge in the technology over the next several years, and the factors that will be critical to the success of banks implementing blockchain-based solutions.
In full, the report: - Outlines banks' experiments with blockchain technology.
- Details blockchain projects at three major banks — UBS, Credit Suisse, and Banco Santander — based on in-depth interviews.
- Discusses the likely trends that will emerge in the technology over the next several years.
- Highlights the factors that will be critical to the success of banks implementing blockchain-based solutions.
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