Blockchain e suas contribuições para open banking: uma análise de como essa tecnologia pode contribuir para open banking em uma instituição financeira

Abstract

This study seeks to analyze, under a critical-reflective approach, the impact of the Blockchain on the financial system in a context of Open Banking, based on the understanding of the concept of this technology and its impacts, whether caused by its essence of decentralization, in the lack of regulation, in the creation of new products already inserted in a new technological ecosystem for the financial system. The development of new technologies such as Blockchain, drive the growth of the Financial system, while conceptually challenging the loss of central (regulatory) authority, as with the use of Blockchain trust will pass to a network of technological infrastructures. In a broader context of Open Finance, Blockchain will be the technology to register, track and give credibility to transactions to entities that do not know each other, in addition to guaranteeing the immutability of records, leaving its virtual trail that will help in the fight against money laundering. The main objective of this work is to understand how the Blockchain can contribute to Open Banking in a Financial Institution. Therefore, a case study was carried out with professionals in the areas of Blockchain and Open Banking in one of the largest Financial Institutions in Brazil. Data collection was carried out through interviews with a select group of experts in these areas and content analysis was carried out with the help of NVIVO Software. As a result of this study, it was found that the Blockchain is not on the Open Banking agenda, but it will certainly be in its second stage called Open Finance. It was also verified that products and services that will use the Blockchain need to be developed in this digital architecture and, therefore, have an implementation versus replacement cost that becomes more expensive at first and delays the use of the technology. Regarding the degree of maturity of this technology, it was found that the researched Institution has research and projects in the testing phase and that the partnership with private Blockchains should prevail to leverage its use in a systemic way.