Global financial institutions operate in a highly dynamic and competitive business environment, and to really harness the huge potential of blockchain, there are several critical factors that need to be considered.
For example, there are multiple sources of friction both within and across institutions, that pose significant challenges for firms and markets as a whole, including fragmented data and workflow models, lack of a single source of truth, lack of real-time visibility and transparency, and cyber-security vulnerabilities. Blockchain and distributed ledger technologies have the power to mitigate risk and reduce friction for these financial institutions, demonstrated through PeerNova’s real-life use cases.