European bank Santander has commissioned a study to “Analyze the impact of bitcoin and other cryptocurrencies on banks and devise a strategic course of action.”

The study is being facilitated as a challenge through Yegii, an ‘Insight Network’ founded by Trond Undheim. Undheim is also a Senior Lecturer at MIT Sloan School of Management, as well as Managing Director at Tautec Consulting.

The challenge was initiated by Julio Faura - Head of Corporate development for Banco Santander. According to Dr. Undheim, Faura was “looking for additional outside perspective onto the topic of Bitcoin. While acquiring consulting services from top tier consulting firms can be exciting, he thought that an outsider, multidisciplinary perspective, would be particularly helpful.”

Founded in Spain in 1857, Banco Santander is listed 43rd on Forbes’ list of world’s 2000 largest companies, placing it above Goldman Sachs, Ford Motor Company, and even Google.

Yegii is an insight network with the objective of consolidating information into readily digestible insight into changing dynamics within industry caused by advances in technology, changes in regulation and business models. Forging partners with existing networks as well as trade associations, publishers, companies, and individuals, Yegii seeks knowledge from all sides of socioeconomics to best understand how to guide executives and company directors in making decisions best for their shareholders as well as society.

Dr. Undheim is trying to build a ‘dream team’ of experts would be multidisciplinary. He’s looking to create a group consisting of “a bitcoin expert, a management expert, a project manager, a data scientist/scientist/engineer, a banker, an academic, and a student with lots of energy, ideally from different continents, and to include both believers and skeptics.”

When asked why this is an important challenge to for Bitcoiners to meet, Undheim stated that “This challenge is both an opportunity for Bitcoiners to express their viewpoints and acquire the support of a major multinational bank that is very forward thinking.” and that “While the Bitcoin community has progressively been taken more seriously over the past year, this is the chance to gleam insight into the possibility of banks adopting it as a mode of transaction.”

Dr. Undheim also suggested that the challenge is also “a great opportunity for Bitcoin experts to collaborate with others whose viewpoints they might not have been able to engage in such a focused and long discussion/collaboration effort.”

To become involved, one must follow two simple steps. The first is to register as and identify your experience as an expert on the platform here: http://www.yegii.com/expert/register. The second step is to submit an initial response to how one would approach the impact of bitcoin on banks here: http://yegii.com/challenge/bitcoins-impact-banks-265

Stage 1 entry ends: August 27th, 2014

Stage 2 refinement ends: September 10th, 2014

Stage 3 (final report): September 20th, 2014

If you have any of these skills (or other skills Yegii should have highlighted), respond to the challenge and compete to join the small team of collaborators.