We’ve seen countless applications of blockchain – many good, many bad, and mostly token-related – since its inception, as the world explores how best to leverage this powerful technology. The most headline-grabbing applications are typically cryptocurrencies and decentralized finance protocols – products born from a mistrust of the existing financial system and built in an effort to ease reliance on it. We’ve seen splashy op-eds about how blockchain will bring traditional finance crashing down, returning humanity to an era of self-managed finances, but these headlines don’t tell the whole story.
One of the most exciting applications of blockchain technology has yet to be realized. Ironically, the very institutions cryptocurrencies were designed to disrupt also stand to gain a great deal from their underlying technology. The decentralized and transparent nature of blockchain, when configured to conform to our existing financial communications standards, holds the potential to transform the financial sector and modernize its underlying technology, offering improved efficiency, security, transparency, and interoperability.
A Blockchain Calibrated for Enterprise
Blockchain, the underlying technology behind cryptocurrencies like Bitcoin and Ethereum, has garnered attention for its decentralized and tamper-resistant nature. It…
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