Transcription of Smart Contracts in Financial Services: Getting from Hype ...
{{id}} {{{paragraph}}}
Example: confidence
Smart Contracts in Financial Services: Getting from Hype ...
Smart Contracts in Financial Services: Getting from Hype to Reality2 Executive SummaryThe potential of Smart Contracts programmable Contracts that automatically execute when pre-defined conditions are met is the subject of much debate and discussion in the Financial services industry. Smart Contracts , enabled by blockchain or distributed ledgers, have been held up as a cure for many of the problems associated with traditional Financial Contracts , which are simply not geared up for the digital age. Reliance on physical documents leads to delays, inefficiencies and increases exposure to errors and fraud. Financial intermediaries, while providing interoperability for the finance system and reducing risk, create overhead costs for and increase compliance requirements.
Bank executives have started taking it seriously as well. Roberto Mancone, MD and Global Head Disruptive Technologies and Solutions, Private ... i Bloomberg, “With Loan Market Still Using Faxes, Settlement Times Trail Goal”, April 2015; ii Bloomberg, “Dirty Secret of $1 Trillion Loans
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: