Blockchain Technology Can Help Investment Funds To Save Billions Of Dollars

Blockchain Technology Can Help Investment Funds To Save Billions Of Dollars

Blockchain news; According to the new report, Blockchain infrastructure could make big financial benefits to management industry.

A transaction network company Calastone predicts, that such a move could save about $2.5 billion from global mutual funds.

Calastone’s deputy chief Ken Tregidgo said, that with the help of distributed market infrastructure different companies could save their time.

Bitcoin News

For the research, Calastone used data from a 2016 Deloitte study and calculated the potential basis point (BPS) savings in key global markets including the UK, Ireland, Luxembourg, Hong Kong, Singapore, Taiwan and Australia.

Calastone’s CEO Julien Hammerson said the results highlight the benefits of using blockchain to automate the full life-cycle of mutual fund transactions from order placement through the settlement and payment process.

The process of bringing mutual fund transactions into a blockchain technology is continuing. Five major U.K mutual fund operators joined forces to explore blockchain technology’s potential in trading systems.

In September 2017 Nasdaq and Sweden’s SEB bank revealed they were testing a distributed ledger platform, which allow participants to trade in real-time. It made simple the paper-based transactions.

 

Find more information about blockchain news on cryptocynews.com

Leave a Reply

Your email address will not be published. Required fields are marked *