Blockchain could create new opportunities for
verified identity solutions
|1 Minute read
|The next five to 10
years are expected to see transformational changes in
cross-border regulatory reporting and compliance, driven
by compelling advances in data management technologies.
One of the most promising ways that regtech will help is
by eliminating overlaps and commonalities in the data and
client verification requirements of different
regulations. Many regulations cover common ground; as
such, smarter use of shared, verified data - such as that
promised by blockchain and distributed ledger
technologies - will significantly reduce or even
eliminate repetitive reporting requirements.
The next five to 10 years are expected to see
transformational changes in cross-border regulatory reporting
and compliance. At a time when the regulatory burden grows ever
larger, the ability to manage and simplify the compliance
mandate will be driven largely by compelling advances in data
management and digital technologies.
Initially, this (r)evolution is...