Chain reaction

Can you hear it? That's the sound of the guys working on the chain. Blockchain to be precise. It's no longer a silent revolution in the UK financial world. It's moving fast. Really fast. In fact an amazing £634 per second fast. Or £70,000 by the time you've read this post.

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16/11/2016

Scotland's rapidly-growing blockchain business is making a big noise in the UK's fintech sector. It's heading towards fever-pitch. And, to prove the point, last week's ScotChain16 event, in Edinburgh, was the amongst the largest and well-attended blockchain events ever, uniting thought leaders and entrepreneurs from across the globe.

This is where London banks with an interest in fintech innovators can follow those in Scotland. Earlier this year Royal Bank of Scotland (RBS) joined 36 banks worldwide by testing blockchain as a platform for commercial paper transactions.

Not only is Scotland sitting on a data goldmine estimated to be worth £17bn, it is a financial powerhouse comprising major banking multinationals - all fuelled by a booming sector of over 1,000 tech firms.

Scotland’s concentration of financial institutions combined with its academic excellence and start-up environment are the perfect blend for fintech innovation.

Fintech-enabled disruption in Scotland

New challengers in financial services are opening up many opportunities which include:

  • cyber security firms;
  • branchless banking;
  • crowd-sourced business lending;
  • mobile and wearable payment devices;
  • digital identity verification and biometrics;
  • crypto-currency;
  • personal privacy/data protection; and
  • mobile point-of-sale hardware.

Skilled in tech?

From world-leading technology companies to exciting new start ups, Scotland is the ideal place to grow your software career. Whether you specialise in big data, cloud computing or software engineering, we’re looking for talented people like you.

Come join us.

For the full article visit the ScotlandIS website