There has been a lot of coverage about Blockchain and the impact it will have on the Financial Services Industry. It is often cited as a change agent that will revolutionize the way banking and ﬁnancial services are carried out and delivered to customers. There are many Blockchain evangelists that proclaim it to be the great equalizer of banking, democratizing banking for the individual, and removing the institutionalized constraints of traditional banks. Then there are the detractors who claim Blockchain will have little to no impact on banking and ﬁnancial services. Their strongest argument is to look at Bitcoin, ostensibly the most successful implementation of Blockchain technology to date. While its value as a commodity continues to soar and ﬂuctuate, its impact on payments has been limited. The truth may lie somewhere in the middle. Blockchain technology introduces concepts that are novel and impactful, but may only be impactful in very speciﬁc and precise use cases and may not be as wide-reaching as many initially predicted.