Usage of IBM Blockchain Technology to Improve Clearing and Settlement Processes in the Banking Sector
Zimakosov, Vladislav (2018)
Zimakosov, Vladislav
Kajaanin ammattikorkeakoulu
2018
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2018121321489
https://urn.fi/URN:NBN:fi:amk-2018121321489
Tiivistelmä
The movement of money in the modern economy is carried out through the channels of the banking system. Therefore, it is necessary to clearly understand how payment systems work, how the banking system is regulated and how those processes can be improved. The clearing process was selected for the topic of the bachelor thesis. The current challenges of the modern clearing systems were outlined and discussed in the research and that helped to set a direction to the whole thesis.
The theoretical framework was created by studying the relevant case-studies, latest research articles and reports about recent technological solutions development. The qualitative interview was conducted with a representative of the Russian banking sector. The primary goal of the interview was to receive insights into the actual clearing processes, their challenges, blockchain-based systems and a necessity for improvement.
A solution for the improvement was determined – blockchain based clearing systems. To maintain the scale of the bachelor thesis, the primary technology was chosen – IBM Blockchain technology. The main research question was "Can IBM technology improve the process of clearing and settlement in the banking sector with the help of blockchain technologies?" The system allows banks either to make it public and open, or to have control over it. The successful case-studies were reviewed. Those presented a clear understanding of the possibilities of blockchain-based systems.
The theoretical framework was created by studying the relevant case-studies, latest research articles and reports about recent technological solutions development. The qualitative interview was conducted with a representative of the Russian banking sector. The primary goal of the interview was to receive insights into the actual clearing processes, their challenges, blockchain-based systems and a necessity for improvement.
A solution for the improvement was determined – blockchain based clearing systems. To maintain the scale of the bachelor thesis, the primary technology was chosen – IBM Blockchain technology. The main research question was "Can IBM technology improve the process of clearing and settlement in the banking sector with the help of blockchain technologies?" The system allows banks either to make it public and open, or to have control over it. The successful case-studies were reviewed. Those presented a clear understanding of the possibilities of blockchain-based systems.