| Distributed ledger technology – popularly known as blockchain – has the potential to become a massively disruptive force in financial services. By enabling ‘smart contracts' with automated post-trade processing, for example, the technology could eliminate the need for clearing houses.
Big banks and exchanges are paying attention. "On the blockchain front, [the second quarter of 2016] saw a number of banks and financial institutions globally begin focusing on proof-of-concept initiatives, moving from initial ideas to actual pilot-testing of solutions," said a report on fintech investment published last month by KPMG and CB Insights, a New York-based research firm...............................................Full Article: Source
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