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Deutsche Bank considers the opportunities of Blockchain are "Huge"



According to the Chief Investment Officer of Deutsche Bank, Blockchain technology could be a major shift in how companies conduct their business.



11.Dec.17 1:17 PM
By Daria Zaytseva
Photo Toinnov.com

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Deutsche Bank considers the opportunities of Blockchain are "Huge"

In a presentation this month, Christian Nolting, also head of the bank's global wealth, and Marcus Muller, global head of the CIO office, explained how digital currencies and blockchains work and predicted where they would go in the future.

According to the presentation, the “opportunities associated with blockchain technologies are huge” and could be fully realized in the next few years.

The bankers predicted that approximately 10% of the global gross domestic product (GDP) would be monitored or otherwise "regulated" by a blockchain by 2027.

While blockchain technology is promising, cryptocurrencies are less, according to the presentation. The bank classifies digital currencies as "highly speculative," given their intrinsic value or support from the central bank.

According to the presentation, cryptocurrencies could be an alternative to fiat currencies, especially in countries with runaway inflation, they require more regulation and security to become a proper class of assets.

Digital currencies in general could develop in several possible ways, with some of the major factors affecting their growth being government intervention and competition between different currencies.

The potential for hard forks creating new currencies is also a potential cause for concern, as this could lead to inflation, the statement said.




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