Fund industry stakeholders must come together to take full advantage of Blockchain, according to Deloitte

fr en

Blockchain technology is a trending technology that could affect most business models, forcing entities to rethink their long-term strategic visions. Deloitte Luxembourg has published a whitepaper entitled Impacts of the Blockchain on fund distribution describing the opportunities and challenges of the disruptive technology that is in the vocabulary of all players in the financial services industry.

<< Back
25/03/2016 |
  • deloitte

Blockchain beyond Bitcoin

Blockchain technology relies on a digital distributed ledger that operates in a shared and transparent environment without the need for a trusted authority to validate transactions. The distributed ledger contains the entire history of records, and multiple copies of this ledger are accessible to all participants across the network, making the Blockchain completely public and perpetual.

Blockchain is the technology behind Bitcoin, but its applications go far beyond cryptocurrencies. The whitepaper discusses how the Blockchain leverages so-called “Smart Contracts,” in which a contract’s terms are implemented in a computer language and can execute themselves when specific conditions are met. A large number of applications can be created using Smart Contracts, having the potential to span a wide range of industries outside Fintech.

A new financial ecosystem in Luxembourg?

Because it is by essence free from intermediaries and trusts, Blockchain technology should not be applied in isolation. Rather than launching independent projects, industry stakeholders must together envision a new financial ecosystem in order to take full advantage of the benefits of the technology and not be left aside. It is particularly true for the asset servicing industry in Luxembourg where many incumbents act as intermediaries or central counterparties.

Thibault Chollet, Director Technology & Enterprise Application at Deloitte Luxembourg states: “Blockchain technology still has some major challenges to resolve such as acceptance, scalability, performance, resilience, data confidentiality and regulatory surveillance. Nevertheless, it should be a priority for the  financial sector to define a new operating framework for the industry in line with the new paradigm this technology has the potential to bring.”

Read more about the whitepaper on Deloitte’s website:

Back to top  | << Back

Communiqués liés

Apex logo 150x150 (002)

Apex Group Americas continues to expand its business develop...

Apex Group Ltd. (“Apex Group”) – global financial service provider - has a...

Apex Group
Baker McKenzie

Baker McKenzie Luxembourg Unveils New Tax Controversy and Di...

Baker McKenzie Luxembourg is delighted to announce the release of our latest bro...

Baker McKenzie
Mr Shukhrat Ibragimov
17/07/2024 Personnalités

Changes to the ERG Board of Directors

Changes to the composition of the Board of Directors.

Eurasian Resources Group
Geobloc Terra Matters 15072024

Terra Matters Unveils First Product Circularity Data Sheet (...

Terra Matters, a pioneering Luxembourgish GIE dedicated to advancing and simpli...

H2 truck
16/07/2024 Partenariat

Cargolux and Arthur Welter team up on hydrogenpowered trucki...

Cargolux and Arthur Welter are proud to announce their collaboration on a hydrog...

Apex logo 150x150 (002)
16/07/2024 Personnalités

Apex Group appoints Novigi as data and technology partner to...

Data and technology innovation, scale and capability offers sustainable pathway ...

Apex Group

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more