Blockchain and Financial Services a Study of the Applications of Distributed Ledger Technology (DLT) in Financial Services

Untrusted parties can agree on a database’s status without the need for an intermediary thanks to blockchain technology. A blockchain could eliminate the need for banks to supply some financial services like payments and securitization by offering a ledger that is not managed by anyone. Furthermore, blockchain enables the deployment of “smart contracts,” which are self-executing contracts written on the network that can automate a variety of manual tasks, including will distribution and compliance as well as claim processing. “Distributed ledger technology (DLT),” a relative of blockchain, may assist companies in enforcing more stringent regulations and policies on data exchange and cooperation for use cases that don’t require a high degree of decentralization but could benefit from improved coordination.