A comprehensive report by the World Economic Forum released yesterday reiterates the importance of blockchain technology in global finance. The 129-page report presents the findings of an in-depth analysis of nine different use cases of the distributed ledger technology.
The report titled “The Future of Financial Infrastructure – An ambitious look at how blockchain can reshape financial services” presents the findings from an earlier Deloitte/World Economic Forum report – “Disruptive Innovation in Financial Services”. A product of over one year of research involving industry leaders and subject matter experts has resulted in 6 key findings on the future of blockchain technology in finance.
- The potential to offer simple and efficient financial services infrastructure and processes.
- It may not be the ultimate solution, but it is one of the many technologies that will lay the foundation for next generation financial services infrastructure
- The technology can be used for a range of applications where its implementation varies from case to case.
- Digital identity offered by blockchain technology can expand existing financial applications across new verticals. Use of distributed ledger technology to create digital fiat currencies can