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#SWIFT : #Blockchain Won't Remove All Third Parties in #SecuritiesTrade


It may come as little surprise to find that #blockchaintechnology could require a major re-imagining of the #securitiesmarket .

But a report published today by the research arm of financial messaging service #SWIFT argued that the technology does not entirely remove the need for third parties, even if it demands a "substantial re-engineering of business processes across multiple securities market firms."

The major finding of the report, based on interviews and focus group meetings with individuals from 75 organizations in technology and post-trade processing, is that industry firms need to re-imagine their role in post-trade processing – but this, SWIFT goes on to say, is not in itself an existential threat.

Michael Mainelli from Z/Yen Group, who co-authored the report, said in a statement:

"The challenge of using mutual distributed ledgers in securities markets is not just in demonstrating technological feasibility, but in achieving the necessary industry coordination to reengineer business processes across securities firms."

Read Full Article@coindesk>>

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