State Street Explains Blockchain
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Blockchain technology, while powering Bitcoin, offers broader financial applications through a shared and secure ledger that enhances efficiency in reconciliation and settlement. It supports both public and private configurations and leverages cryptography for security. The potential of blockchain will emerge through experimentation and overcoming regulatory and technical hurdles.
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State Street Explains Blockchain
- 1. Not Just for Bitcoin 1 Public or Private 2 Secure 3 Efficient 4 Still Early Days 5 State Street Explains... Blockchain in Five It powers the Bitcoin system, but can enable many other financial applications and interactions. Having a shared, validated and distributed ledger can help speed reconciliation, shorten settlement time and automate processes. Blockchain applications behave the way we need them to — open and public, or permission- based and private. Cryptography is a key part of a blockchain. It ensures the data can be distributed and still be secure. Huge potential that will only be unlocked through experimentation and by addressing regulatory, governance and technical challenges. CORP-1861