World Economic Forum report :
Blockchain to become ’beating heart’ of financial system
Based on 12 months of research and interviews with more than 200 industry players, the 130 page report explores how distributed ledger technology will affect insurance, payments, market provisioning, investment management, capital raising, and depositing and lending.
▻https://www.finextra.com/newsarticle/29299/blockchain-to-become-beating-heart-of-financial-system
the effects will be hidden, coming from new processes and architecture based on blockchain that simplify back-end processes, making them cheaper, more secure and more accessible, rather than radical finch innovation or new currencies such as bitcoin
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The report also highlights the potential for an inter-bank, blockchain-based fiat currency to streamline the arduous process for transferring money, an innovation which would “cause blockchain technology to enter the finance bloodstream”.
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The report notes that there are risks, including design errors, malicious behaviour and security gaps. In addition, FS firms will have to cooperate while a clear regulatory and legal environment is also needed.
The report:
An ambitious look at how blockchain can reshape financial services
▻https://www.finextra.com/finextra-downloads/newsdocs/WEF_The_future_of_financial_infrastructure.pdf
backup : ▻https://www.docdroid.net/file/download/rljkt6g/wef-the-future-of-financial-infrastructure.pdf
#blockchain
#banking #insurance #payment
#DLT #Distributed_Ledger_Technology