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Blockchain technology: will be a disruption to financial services?

Proponents of the blockchain technology envision a world without financial service providers. Asset ownership would thereby be recorded in a distributed, non-manipulable ledger – the blockchain – that is stored on each participant’s computer. Except for the digital currency bitcoin, this technology has not been widely applied so far. Many promises surrounding blockchain exist. The most important ones are:

  • Blockchain is cheaper than the current payment system
  • Blockchain is faster than the current payment system
  • Blockchain does not need a regulated third party
  • Blockchain is less error-prone than the current payment system
  • Blockchain is safer than the current payment system

Researchers argue, it is still uncertain whether the blockchain will be a disruption to financial services. For a well-functioning market for blockchain applications to emerge, these have to be able to compete with current systems. Blockchain services need a legal definition and should be compliant with rules and regulation. Moreover, there should be registration requirements for mining services as well as supervision since miners could become critical infrastructure.

For more information, please, read the LSE Business Review article:

What can today’s non-energy CEOs do to prepare their firms for a prosumer future?

Commercial and industrial firms are prime candidates to become prosumers due to the large size of their facilities, variations in power use, and ability to buy and sell electricity products at scale. The most common and fast-growing source of locally generated (or “distributed”) power is rooftop solar. Many commercial and industrial buildings have rooftops, parking structures, and unused land that can host systems that are significantly larger and cheaper than residential systems.

Many companies are already in markets where “demand-response” contracts enable them to sell the right to manage a portion of their power use, allowing them to be paid for reducing their energy during hours when the spot price of power is high. In the future, in addition to selling actual power reductions, companies will be able to sell other currently-hidden services produced by their buildings, solar systems, or vehicle fleets back into the grid.

What can today’s non-energy CEOs do to prepare their firms for a prosumer future? 

A comprehensive energy audit by a qualified energy services firm familiar with the latest smart control technologies, traditional energy efficiency measures such as efficient motors and lights, and demand response options is the way to start. This audit will almost certainly reveal opportunities to save money and sell (or at least conserve) some energy services right now.

For more information, please, click on the Harvard Business Review article below:

The role of the consultant in a change management process

Dr. Zoltan Csedo, Managing Partner of Innotica Group, and Associate Professor of Change Management, Corvinus University of Budapest is going to hold his lecture with the title 'The role of the consultant in a change management process' within the Change Management course of the MSc Program of Management and Business Administration, on the 15th of November at 17:20 (E Building).

The lecture is open for all interested professionals, and will be followed by a Q&A session.

Invited speakers delivering lectures within the Change Management course include Mr. Zsolt Hernádi, CEO of MOL Plc and Dr. Erik Bogsch, CEO of Gedeon Richter Plc. Dr. Csedo is going to highlight the challenges of a change management consultant working in the context of today's multinational corporations.

Deloitte Central Europe Technology Fast 50

Since 1995, Deloitte has been watching fast-growing technology companies that achieve remarkable levels of growth. Combining technological innovation, entrepreneurship and rapid growth, Technology Fast 50 companies span a variety of industry sectors, and are transforming the way business is done today. 

Meet us at the Deloitte Central Europe Technology Fast 50 Gala Event, in Budapest, on the 20th of October. Let's see the winners of 2016!


Smart Future Forum 2016

Significant steps have already been taken by several countries towards the implementation of smart grids. Business branches have started to develop, international alliances have been founded, and the types and number of affected parties have multipled. In order to accelerate domestic development, an environment shall evolve where one can achieve the most results possible within the shortest time possible, utilizing the least amount of resources. Therefore, it is necessary to coordinatedly unite the assets and possibilities of the cluster world, already having considerable history in Hungary, and the corporations and institutions tied to energetics, seeking to uncover synergies.

Smart Future Innovation Cluster's mission is to create such a community where members can obtain the most benefit from the opportunities of smart grids.

Meet us at the Smart Future Forum 2016, organized by Smart Future Innovation Cluster, in Visegrád, on the 20-21 October 2016.

Please, have a look to the detailed program of the event: