Given the amount of ink that has been spilled on the topic
over the past months, most readers will likely be familiar with
the term blockchain, as code for the type of distributed ledger
technology that underlies bitcoin and other similar
cryptocurrencies. Some of the more technologically inclined may
already have an in-depth understanding of the workings of these
systems. One thing seems certain: just about everyone will have
heard ecstatic claims about how blockchain technology will
transform the world of finance.
With this awareness has also come a level of scepticism,
bringing a more rigorous focus on the underlying concepts and
corresponding innovations, as lawyers, bankers and other
participants in the finance sector seek to understand how it is
that blockchain technology will drive the implementation of
significant changes to the way finance business is conducted.
To advance the discussion, it is worth examining three specific
financial products and...