Blockchain Technology could help to reduce costs as well as increase security and transparency in the financial world.
Corporations and regulators are opening up to the idea of Blockchain and its benefits – this innovative technology could transform the way of investing. A key benefit of Blockchain, crucial to investors, is that it allows for the tracking of the ownership of assets, both during and after transactions are completed.
At the Lisbon Web Summit in Lisbon, Portugal, Peter Smith, CEO of Blockchain Ltd., presented his thoughts on investment in the financial world to 50,000 tech leaders.
The U.S. Securities and Exchange Commission (SEC), which enforces federal securities law, acts as a key advocate for the Blockchain industry. The SEC believes that Blockchain could be of great help to investors and an effective way of regulating the investment industry. Additionally, SEC believes that Blockchain will provide a transparent, secure and reliable way of preventing fraud. As a result, SEC has said that corporations will start to implement Blockchain.
Valerie Szczepanik, Head of the SEC’s Distributed Ledger Working Group, stated:
“It should signify to the industry that we are seriously looking at these areas — that we’ve been thinking about them, that we’ve been keeping up to speed and that we are studying the regulatory issues.”
Read the full article, via Forbes, here.