Distributed ledger technologies have the potential to change the current financial system, whether in terms of reduced costs, greater reliability or more transparency. To create a successful ecosystem, it is necessary to have, or have access to, the right ingredients for success. These includes: suitable user cases, the talent to deliver, the right business environment to assist those who will bring the solutions, government and especially regulator support, and of course access – to customers, and other ecosystems. This paper focuses specifically on how distributed leger technologies (DLT) or blockchain can be applied to support regulatory compliance and will focus on three areas: regulatory reporting, KYC processes for AML compliance and the use of Smart Contracts
Written in collaboration with Chami Akmeemana and Joseph Lubin from ConsenSys with contributions from Jesse McWaters.
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