The potential for blockchain, the technology that powers the crypto-currency Bitcoin, to provide secure storage and distribution solutions is already seen to have far-reaching implications for the financial services industry.

Patrick will augment PwC's existing financial services proposition for blockchain. PwC hired 15 leading blockchain specialists in January to help it develop financial technology (FinTech) solutions as part of the firm's plans to grow a world-class FinTech offering.

However, PwC sees blockchain as presenting far wider opportunities and challenges than just disrupting business models within the financial services sector. PwC has hired Patrick to lead work on the opportunities and challenges blockchain presents for clients across all industries and sectors and, indeed, its potential to tackle major societal issues.

As a member of the Whitechapel Think Tank steering group, Patrick has played a lead role in a cross-industry and public sector forum convened to understand the opportunities and challenges presented by distributed ledger technology, or blockchain. He has a track record of innovating and applying new technology. While at Citigroup, he set up the bank's algorithmic trading unit.

Michael Rendell, PwC's transformation and innovation leader, said:

Patrick Spens brings 30 years of experience in the financial services industry, most recently as head of market monitoring at the FCA. Prior to that, he founded hedge fund Copenhagen Capital in 2005 and before that was Head of Equity and Alternative execution trading at Citigroup for EMEA.

PwC's decision to focus on blockchain technology represents not just the firm's move towards developing FinTech solutions, as catalyst for change and innovation in the financial services industry, but its broader commitment to helping organisations with their digital transformation.

Blockchain technology, consists of 'blocks' of data in a digital ledger, and is believed to be highly resistant to malicious tampering and, therefore, potentially lend itself to widespread uses. In efforts to promote greater transparency, the ledger also creates a single shared view of the blocks, which every participant in the network can access simultaneously.

About PwC
At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

Lisez gratuitement :

Le quotidien Finyear :
- Finyear Quotidien

La newsletter quotidienne :
- Finyear Newsletter
Recevez chaque matin par mail la newsletter Finyear, une sélection quotidienne des meilleures infos et expertises de la finance d’entreprise et de la finance d'affaires.

Les 6 lettres mensuelles digitales :
- Le Directeur Financier
- Le Trésorier
- Le Credit Manager
- The FinTecher
- The Blockchainer
- Le Capital Investisseur

Le magazine trimestriel digital :
- Finyear Magazine

Un seul formulaire d'abonnement pour recevoir un avis de publication pour une ou plusieurs lettres