Distributed ledger technology (DLT), a.k.a. blockchain, will overhaul securities operations much like the Internet and web technologies did, says William Mougayar, author of “The Business Blockchain,” a new book about the coming revolution.
Mougayar is a direct participant in the crypto-technology market and is working with startups, entrepreneurs, pioneers, leaders, innovators, creators, enterprise executives and practitioners. A general partner with Virtual Capital Ventures, he has also been an investor, advisor, and board member in some of the leading organizations in the DLT space.
As financial services firms explore DLT, they should keep in mind that they need to take a holistic approach, Mougayar says.
“So if you only look at it as a technology — mainly a distributed ledger technology — and if you don’t change anything about your business, then you are likely to only realize maybe 20 percent of the potential benefits of the blockchain,” Mougayar says. Firms must grasp that DLT is not as strictly an IT phenomenon.
Mougayar, who was the keynote speaker at SecOps North America 2016, spoke to FTF News during the two-day securities operations conference in Toronto, sponsored by Financial Technologies Forum (FTF).
At the conference in mid-June, Mougayar signed and gave away 100 autographed copies of his book.
Video Production: Janene Knox and William J. Poznanski, Jr.
Interview conducted by: Eugene Grygo, chief content officer, FTF News
Co-Producers: Sarah Hathaway, vice president, Financial Technologies Forum (FTF) and Eugene Grygo
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