Distributed ledger tech could save TradFi $100B a year: Lobby group
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Around $100 billion a year or more could be saved if distributed ledger technology (DLT) was used in traditional markets, claims a new report from the Global Financial Markets Association (GFMA).
In a May 16
There is, however, still plenty of room for improvement when it comes to implementing DLT into pre-existing financial systems.
Last November, the Australian Securities Exchange abandoned its plans to update its 25-year-old clearing and settlements system with DLT, leaving a $170 million hole in its books.
The GMFA report comes just two months after Citi investment bank claimed that the global market for blockchain-based tokenized assets could reach a staggering $5 trillion by 2030.
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