Blockchain - about more than cryptocurrencies
Whether in cybersecurity, supply chain management, new asset classes or insurance solutions, blockchain technology is increasingly being used in areas of the real economy. The boundaries between the classic banking world and blockchain banking are becoming more fluid.
Blockchain technology is not limited to Bitcoin and the other cryptocurrencies. It also offers a wide range of opportunities in terms of new business models and investment options, and there is a huge potential for innovation – all around the globe.
Wide range of uses for blockchain technology
Many companies around the world – from start-ups to large corporations – are working to solve challenges in the analogue and digital worlds. We have compiled some interesting potential applications to illustrate current developments.
Cybersecurity is crucial in the digital environment and is gaining in importance all the time. Blockchain technology combines several digital security concepts, such as cryptography. Its unique architecture and specific structure can help make the digital world a safer place.
Supply chain management
Globalisation continues to advance. Sustainability is a significant issue in all sectors with regard to global supply chains. Blockchain increases precision in production as well as transparency in traceability, so it also optimises the costs of individual work steps. All of this can add significant value to manufacturers and end customers.
Establishing of new asset classes
The creation of Bitcoin is said to have given rise to a new, completely digital asset class. Blockchain technology has facilitated the appearance of a wide range of innovative products and services that are now available to the investing public. At the same time, the crypto market is now being regulated more closely. This establishes confidence and gives private individuals and institutions the peace of mind they need to continue investing judiciously and sustainably in the sector in the future.
The advantage of blockchain – the decentralised organisation of the system – also offers great potential in the insurance sector. As a result, providers can respond even more specifically and precisely to the needs of their customers and can offer them customised solutions. Blockchain therefore has an influence on efficiency, ultimately helping to reduce costs in the industry over the long term.
Of course, there are many more exciting examples, such as the tokenisation of financial products or of tangible assets in combination with NFT. As a pioneer in blockchain banking, we know the market very well and we can provide comprehensive support.
New information platform «Bank Frick meets»
We actively monitor developments in all areas and report on them continuously on our new information platform. On “Bank Frick meets”, we share our knowledge on various topics: from blockchain technology to practical best-case examples and updates from the traditional financial world. Specialists and visionaries share their know-how in a variety of attractive formats – from technical articles to online keynote events.
Currently on the information platform: Bank Frick meets CVVC (Crypto Valley Venture Capital)
Blockchain and crypto assets are now ubiquitous. Metaverse is creating entirely new markets and trying to propel the internet into the new age of Web 3.0. Our blog series uses specific use cases to show how blockchain is changing the world – and what the new technology means for the real economy. We show how it can influence the way we work, interact and do business, adding value to different industries.
From the moment we were founded over twenty years ago, close personal contact, trust and reliability have been our core values. As an entrepreneurial and innovative bank for financial intermediaries and professional customers, we are always looking ahead, with our eyes firmly on the future. Exchange and dialogue on all levels and in different areas is key. This includes partnerships as well.
Which is why we are constantly expanding our network.