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There were two themes that dominated this year’s Sibos event, held in October in Sydney. One was a widespread understanding that collaboration – between banks themselves, and between the banking industry and tech companies – is essential when addressing the challenges that face transaction banking. But that’s nothing new: everyone has known this for years. It’s just a question of scale, momentum and trust.
The other, more contrarian theme was a growing sense that blockchain is not a magic bullet to transform trade finance overnight, and that plenty can still be achieved in innovation without having anything to do with distributed ledger technology.
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