21 November, 2018
Research from Deloitte & the World Economic Forum
When the industry can be fueled by distributed ledger technology what does the future of financial services infrastructure look like?
The transformation of the financial services industry is top-of-mind for everyone in the field. As digitization has “changed the game” for all industry sectors, distributed ledger technology, also known as blockchain, has emerged as a hot topic. But how can this technology help financial firms? This report from Deloitte and World Economic Forum takes a pragmatic approach to answering this question.
The report builds upon the findings from the Deloitte / World Economic Forum report, Disruptive Innovation in Financial Services, and looks at the implications of distributed ledger technology across nine functions of financial services. Our findings suggest this technology has the potential to “live-up to the hype” and reshape financial services, but requires careful collaboration from other emerging technologies, regulators, incumbents, and additional stakeholders to be successful.
Key findings include:
- Distributed ledger technology has the potential to drive simplicity and efficiency by establishing new financial services infrastructure and processes
- Distributed ledger technology will form the foundation of next generation financial services infrastructure in conjunction with other existing and emerging technologies
- Similar to technological advances in the past, new financial services infrastructure will transform and question foundational orthodoxies to today’s business models
The most impactful distributed ledger technology use cases will require deep collaboration between incumbents, innovators and regulators, adding complexity and delaying implementation horizon
The report is centered on use case deep-dives that consider how distributed ledger technology could benefit each scenario. How could your business benefit from blockchain?
Please click here for the full report.
See also link to the original source here.
A Chinese law firm and a member of the Deloitte Legal global network, we are well positioned to provide integrated solutions to address your business and legal issues within and outside China. "Deloitte Legal" means the global network of legal practices which are affiliated with Deloitte Touche Tohmatsu Limited member firms. Shanghai Qin Li Law Firm, a licensed Chinese law firm, is the China member of that global network.
For further information, please contact:
Clare Lu, Partner, Qin Li Law Firm, a Chinese law firm and a member of the Deloitte Legal global network.
cllu@deloittelegal.com.cn
Mark Schroeder, Qin Li Law Firm, a Chinese law firm and a member of the Deloitte Legal global network.
marschroeder@deloittelegal.com.cn
