Blockchain in Banking
On a higher level, we met with technical professionals to more thoroughly understand how blockchain - the distributed ledger technology that makes MONI’s peer-to-peer payments possible - actually works. We met with the Head of Distributed Ledger Technology at Nordea, the 9th largest bank in Europe, who described the grassroots mobile payment systems present in some African countries and how blockchain might be utilized to securely verify identities of undocumented people before they migrate to Europe.
Cutting Edge Research
Dr. Timo Seppala, a blockchain researcher from Aalto University, offered his academic perspective on how the blockchain might be used to transform other industries. He described a trusted platform for homeowners and interested buyers to make real estate transactions and a concept for an underground electric vehicle charging station which automatically begins charging when a car stops near a station selling fuel below the customer’s desired price point. Dr. Seppala envisions blockchain technology as a means of decentralizing transactions and giving individuals greater control over their information across a variety of industries.