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Blockchain to be basis for worldwide financial infrastructure (WEF)

The World Economic Forum (WEF) just released a 130 page report on how blockchain / distributed ledgers can be the connecting element for emerging and legacy technologies such as mobile, robotics and machine learning.

Key Findings from the report:

• Distributed ledger technology (blockchain) 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 traditional orthodoxies in today’s business models

• The most impactful distributed ledger technology applications will require deep collaboration between incumbents, innovators, and regulators, adding complexity and delaying implementation

The report is centered on use cases, considering how distributed ledger technology could benefit each scenario. How will blockchain transform the future of financial services?

 

Everyday more groups and institutions look into blockchain for all sorts of purposes however the WEF report, made in part based on findings from Deloitte, is a milestone in terms of blockchain adoption on a global scale.