DIT Financial Applies Blockchain Technology Towards Assets Investment and Management
Vancouver, BC -- (SBWire) -- 07/11/2017 --A new report from JPM and consultancy firm that blockchain technology presents an opportunity for asset managers.
The report states:
"Revenue opportunities will grow out of the improved data sources, greater liquidity and lower frictional costs fostered by blockchain. Asset managers will be able to serve clients in new ways, for example, with real-time reporting or alternate trading strategies."
This article is inspired by a question I asked to Jacky Hsieh, CEO of the DIT financial Inc, an innovative blockchain financial solution company in Canada. The question asked the following, "What are the onboarding costs of new customers when opening new accounts for banks?" He answered, "You're looking at $150-$400 per checking account, while that seems huge compared to CAC (Customer Acquisition Cost) of a startup, at $10-$40, it's tough to get people to switch banks in generally."
The current popularity of using blockchain is not just a VC Hype Cycle but is also becoming a self fulfilling prophecy on the banking side. Bankers are buying into blockchain in big way, as some of these charts below show.
"The blockchain journey is likely to be long and the outcome is uncertain, but a consensus is forming that it is the real deal." -- Unlocking Economic Advantage with Blockchain
DIT financial Inc. recently released a whitepaper encouraging blockchain technology for more financial practice. "Unlocking Economic Advantage with Blockchain," states that the risks of blockchain technology are being disregarded in light of the radical shift it will bring to how the financial industry thinks about assets. "In this joint report, we argue that asset managers need to get off the sidelines and take the initiative to understand and embrace blockchain."
In the last two years, many banks including JPMorgan, Goldman Sachs, Credit Suisse and Deutsche Bank, have shifted their focus to asset management. This is in part due to the investment banking business being impacted by the Dodd–Frank Wall Street Reform and Consumer Protection Act, which resulted in stricter regulations and heavy fines.
DIT has plan to build one of the largest wealth chain in the world, with assets under DIT chain will be more than US$100 million in 2018.
Jacky Hsieh has been kept eyes on the asset management industry for a long time. In an earlier report, the company states that asset managers "must proactively prepare themselves for a paradigm shift in new blockchain operating environment."
"In doing so, asset managers must review their entire operating model, challenging received wisdoms and questioning practices that new advantage and rules coming with blockchain technology." Jacky Hsieh stated at the time.
It is the belief of DIT Financial and Jacky Hsieh that not only is distributed ledger technology credible, but as previously mentioned, will create opportunities for asset managers that are willing to stay up to date.
Media Relations Contact
DIT Financial INC.
View this press release online at: http://rwire.com/830141