DiscoverWeb3 InnovatorsHow is Web3 impacting Financial Services?
How is Web3 impacting Financial Services?

How is Web3 impacting Financial Services?

Update: 2023-02-08


In the second episode of our new season of Web3 Innovators, our host Conor Svensson is joined by Bharat Gupta, Senior Principal for Financial Services and Insurance at Infosys, which is a global leader in next-generation digital services and consulting

Bharat is focused on digital strategy for financial services clients covering crypto and blockchain advisory for new business initiatives.

Episode highlights:

  • How blockchain as a technology initially sparked Bharat’s interest in the space
  • The similarities he saw between mission critical systems and blockchain technology
  • Why he became fully involved in 2019 after large organisations showed an interest in the space
  • What Bharat believes will happen in the future with the digitisation of financial services
  • How digitisation of product can help raise capital and introduce a wider customer base
  • What regulation is currently like for financial services
  • The scalability issues with the Bitcoin and Ethereum network and how these are being resolved
  • How financial services are dealing with transparency and privacy on the network
  • Bharat’s advice for anyone wanting to become involved in the space
  • The projects Bharat is currently focusing on

Key Takeaways:

  • So that really intrigued me and then pulled me in completely. If large institutions are looking into this then I think it makes more sense for all of us to look into this space. - Bharat

  • It was never a thought for financial services that they need to change their product. - Bharat

  • So this whole new field has opened up for startups to raise capital. And how this is happening is because of that same underlying technology, and that's what I call digitisation of the product. - Bharat

  • These networks are not designed for transit. These networks are designed for settlement. So I call it the base layer. Layer one networks are nothing, but it's a settlement networks. Whatever you need to do on top of it, that is your transaction layer. So transaction layer has to be very scalable

  • Now they are building, and I believe that ecosystem will definitely thrive and then scale again, because Bitcoin would not just become a store of value, it will also become a transaction mechanism. - Bharat


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How is Web3 impacting Financial Services?

How is Web3 impacting Financial Services?

Conor Svensson