Blockchain Offers More Than Crypto Trading
A majority of asset managers believe there are better uses for blockchain than trading cryptocurrencies, says the ‘Future of Finance Study,’ commissioned by the Swiss financial market infrastructure SIX. It shows just 20 per cent believe that crypto trading is a meaningful use of distributed ledger technology (DLT). Instead, 56.23 per cent think DLT should be used to drive new revenues or generate cost savings from existing business. David Newns, head of SIX Digital Exchange, says the trading of crypto is not where the central benefits of the technology lie. They could be deployed in the traditional financial system to create more resilient markets by using digital tokens for the issuance, trading, and settlement of equities and bonds. This could remove delays, costs, and risks across markets.