Information Age, UK: Cognizant’s Associate Vice President and Leader of Blockchain and Distributed Ledger Consulting Says Financial Firms Must Move Quickly on Blockchain to Realize its Competitive Advantages

“From opening new markets, to increasing cross-selling opportunities and even creating entirely new business models, financial firms that move quickly on blockchain, realizing the cost advantage while successfully providing added-value services, will triumph over their competition,” says Lata Varghese.

She adds, “To see the substantial benefits blockchain can deliver, firms cannot afford to wait for the fragmented blockchain landscape to converge and business applications to become clearer.”

“Businesses need to move aggressively need to re-evaluate their business models and face-up to the culture change required to collaborate with external partners in the business world of blockchain," Varghese says.

"Businesses that are slow to pick up on opportunities to apply blockchain to their business will find themselves left behind as the industry moves on without them,” she warns. 

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