Blockchains & cryptos: To regulate or not to regulate
There is growing pressure for more effective guidelines and rules to enhance investor protection
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THE introduction of blockchain technologies is generally considered to be conducive to making the financial industry more efficient and stable, with practical applications spanning from more efficient fund transfers to trade settlements and voting.
For instance, participants in a blockchain can confirm transactions without a need for a central clearing authority, which can increase transparency and reduce transaction costs between the participants, according to a report by Pricewaterhouse Coopers.
Perhaps as testimony to its utility, more organisations are adopting blockchain technology, and there is now a broad network of international financial institutions using it to execute cross-border payment transactions, as noted in an article from HSBC Holdings plc.
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