Swift/Accenture provide DLTs blueprint

Swift has identified a number of critical factors that need to be addressed to enable industry wide adoption of Distributed Ledger Technologies (DLT). It has published a paper, in collaboration with Accenture, based on assessment of DLT usage across financial institutions, highlighting opportunities as well as challenges.

The critical factors are: Strong governance; Data controls; Compliance with regulatory requirements; Standardisation; Identity framework; Security and cyber defence; Reliability; Scalability.

David Treat, a managing director and global head of Accenture’s Capital Markets Blockchain practice says: “The financial services industry is moving from an educational phase, into an application phase when it comes to DLTs. We now have a strong understanding of DLT and its benefits, but we need to identify which areas are best suited, as the technology will not be a silver bullet to solve all business issues. The paper provides the industry with a blueprint for reaching the next step in identifying how to apply DLTs.”

By Scott Thompson

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