BFSI CTO Summit – Panel Discussion – Discussion on Block Chain Technology
Shiv Kumar Bhasin, Chief Technology Officer, State Bank of India
“Block chain Technology is one of the most talked about and sensationalized issue lately. I believe that the entire banking sector is energised about using the Block Chain technology. This technology brings transparency and omits the presence of third party settlement in banking transactions.”
Praveen Jayachandran, Reserch Scientist, IBM Research
“People can interact with each other in a secure and transparent manner if they use Block Chain technology. This technology will guarantee immutability of transactions. Other than the legitimate party no one can modify the past history of transactions.”
K R C Murty, VP – Chief Technology Office, Deutsche Bank
“On the Global front, I see this technology picking up well. It will be great value in the next five to ten years. It will give a lot of transparency to the end customer. Internally, we have used this technology in our bank and it helped us in reducing a lot of time. This is the next big technology to take up.”
N Rajendran, Chief Technology Officer, NPCI
“In my view it’s essential to be well-prepared before getting into a new technology. It’s important to prepare infrastructure to use Block Chain technology. It’s a collaborative effort. We should first use Block chain as a non–financial service. Once we get the needed maturity, we can use it as financial service.”
Sameer Jaini, Chief Technology Officer, DCB Bank
“I can see this technology growing vastly within 4 years. Block Chain technology will bring down the cost of the transactions by making it smoother. But it’s a collaborative effort and a united participation to make it a success is a must.”
