Whether or not this technology, on balance, is worth it for a value chain in the banking industry thus hinges on a large number of concrete questions. The particular challenge for institutions lies in the fact that successful blockchain applications and other innovations could, thanks to network effects, potentially quickly become the new standard.
In other words, technology can have a disruptive impact on individual business models. That is why it is advisable to confront technological and societal change proactively and to develop a strategy. Quite apart from this, the banking industry should also use the opportunity presented by digitalisation to become more profitable than before.