Blockchain Technology: New Potential in Financial Services
Bitcoin is currently the best known user of a blockchain platform, but expect many more varied uses to emerge.
For example Calastone, which provides a platform for mutual funds (e.g. unit trusts) to trade in 34 countries, recently successfully replicated its transactions for a full day using blockchain technology.
Will this be good for us?
This potentially paves the way to transform the industry, resulting in enhanced and faster access to global and local securities at a significantly lower cost.
The financial services industry has been in a race to be the first to use blockchain technology.