Alongside our work in the fintech industry, since the end of 2016 CBoxx have also been working with like minded consultancies and domain experts to create a new co-operative technology consultancy business / network.
Team Blockchain (TB) is being established to help organisations identify and assess the impact that Blockchain and other associated technologies are likely to have on their day to day activities, by helping them identify ways to reduce costs, improve security, explore new products/services and improve their profit margins.
The members of TB will have a wide range of practical business experience in a number of different industries, with many having worked for leading global consulting partners, sharing a desire to offer independent advice and help solve real business challenges for the organisations they work with.
By working as a collaborative team, TB consultants will be able to offer domain expertise (industry specific), cross-industry expertise and expertise in other technologies – such as AI, Deep Learning, Robotics, Telematics, Analytics, etc.
Team Blockchain aims to set an entirely new standard. It is a company that is being setup to offer independent advice on Blockchain by a Team of global experts, who themselves will own the majority of the business.
Having examined our paper on the future of financial planning the Financial Services division of the Institute of Chartered Accountants in England & Wales (ICAEW) contacted CBoxx and OCP to author a special article for their members magazine FS Focus.
The theme of the original paper was extended to explore how the boundaries between certified financial planning, chartered accountancy, tax and legal practices will continue to dissolve as technical advances such as cloud services, data driven machine learning, and secure data collaboration through blockchain inspired technology mean that financial professionals will access increasingly joined up services.
We also look at ideas such as the emergence of the new ‘legal programmer’ profession and how firms will come to differentiate themselves in the market through the quality and depth of teaching invested in their own expert systems. The tone remains positive throughout because although we see the industry changing radically, essential new professions will emerge and the outcomes will ultimately make the financial services industry cheaper, safer and far more accessible and broadly appealing for customers.
The FS Focus article itself is only available to ICAEW members but that article was based on our original futurology whitepaper that you can read here: Financial Planning: An Optimistic View of the Future
In November the Hult International Business School in London invited Al Sherriff of CBoxx and David Taylor from OCP to deliver an interactive lecture on “The Strategic Implications of Blockchain” to undergraduate students on the four year Batchelor of Business Administration course, run by Jamie MacAlister. Together we prepared a lecture that aimed to be factual, engaging, cautionary and encouraging.
Al first covered “How does it work?” followed by a section on the volatile history and colourful characters of Bitcoin and blockchain technology. David then explored the strategic angles and industry use cases. Our first lecture had to compete with the news just an hour or so earlier that President Trump had been elected but despite that, the students were attentive and a pleasure to talk too. Several were already well versed in this area and asked searching questions, while others were clearly clicking through the possibilities for innovation in their mind.
Hult has a reputation for producing entrepreneurs and that was evident in some of the discussions both during and after the lecture sessions on the economics, research and opportunities in this field. Jamie astutely framed the day when he coined the question “What is the cost of trust?” – future research for the students perhaps?
Based on our collaborative research in 2016, CBoxx and OCP have co-authored a new white paper that offers an optimistic glimpse of the future for financial planning with particular focus on the possible effects of blockchain technology on the underlying investments industry stack.
We begin with a “Day in the Life” of Fara, a young financial planner in the 2020’s, followed by a broad outline of how the industry could evolve to that point from today …
CBoxx OCP White Paper Financial Planning Optimistic Vision of Future v10