Distributed Ledger, Distributed Consensus, and Their Impact on the Financial Services Market

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Distributed Ledger, Distributed Consensus, and Their Impact on the Financial Services Market

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Posted December 12, 2016 in Business Technology & Digital Transformation Strategies, Data Analytics & Digital Technologies, Digital Transformation & Innovation Bootcamp Cutter Business Technology Journal
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Many observers believe that distributed ledger technology (DLT) will bring fundamental disruption to relationships in a borderless, modern economy that has become more decentralized and more connected than ever. A recent report from the World Economic Forum pointed to blockchain — one potential implementation of DLT — as a revolutionary decentralized trust system that will reshape the global economy. The UK government has been researching DLT for some time now, exploring how the government can use the technology to benefit the country and its citizens. The bank-backed R3 blockchain consortium has gathered key players from the financial markets to work together on blockchain adoption in the financial industry. The year 2016 will definitely be remembered as the moment when blockchain and DLT emerged into the mainstream.