Using Blockchain to Solve Regulatory and Compliance Requirements

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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About The Author

Donna Bales
is a product development professional with a proven track record of managing complex capital market industry initiatives during times of significant market change and market structure reform. Donna is the founder of Balmoral Advisory, a boutique advisory firm that works with exchanges, regulators, technology firms, market participants and market data vendors to identify and evaluate business opportunities, understand and respond to changing industry/market dynamics and develop and implement strategies and solutions that make sense now and in the future. In addition she acts as a strategic advisor to an international consultancy firm, CollegeHill Asia and sits on the Board of 3Q Innovation, a non-profit that focuses on retraining and replacement of older workers following protracted unemployment. Originally from Canada, Donna holds a bachelor degree in Economics from the University of Western Ontario.