WEF: Blockchain will become the 'beating heart' of finance

    Oscar Williams-Grut

    Aug. 12, 2016, 10:00 AM 893

The World Economic Forum (WEF) has concluded that blockchain technology "will fundamentally alter the way financial institutions do business around the world" after a year-long study of the emerging technology.

WEF's "Future of Financial Infrastructure" report, published on Friday, said distributed ledger technology, more commonly known as blockchain, "has great potential to drive simplicity and efficiency" in financial services and "will redraw processes and call into question orthodoxies that are foundational to today’s business models."

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