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Blockchain heralds brave new world for finance - as well as beyond the sector
Applications for tamper-proof public database practically endless, given the modern economy's demand for trustworthy records.
Although Wall Street has embraced blockchain, the killer app for the new technology may well lie outside the financial world.
PHOTO: AFP
FOUR of the world's biggest banks - UBS, Deutsche Bank, Santander, and BNY Mellon - recently announced team efforts aimed at pitching central banks to use blockchain to settle financial trades.
This group isn't the first; earlier this year, Goldman Sachs and Barclays had similarly
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