Santander InnoVentures Fintech 2.0 Paper - June 2015

Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022, a new report from Santander InnoVentures claims.
The FinTech 2.0 Paper, produced in collaboration with Oliver Wyman and Anthemis Group, says distributed ledger technology could save banks money by eliminating central authorities and bypassing slow, expensive payment networks.
Beyond payments, its authors identify other areas of potential for distributed ledgers, noting:
In time, distributed ledgers will support 'smart contracts' – computer protocols that verify or enforce contracts. This will lead to a wide variety of potential uses in securities, syndicated lending, trade finance, swaps, derivatives or wherever counterparty risk arises."

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