What are the potential benefits of blockchain?

Lexology January 4, 2018
Hogan Lovells

According to a World Economic Forum (WEF) report, The Future of Financial Infrastructure, published in August 2016, distributed ledger technology (DLT) is one of many transformative new technologies that will shape future financial services infrastructure.

Six value drivers

The WEF identifies six key value drivers of DLT:

1. Operational simplification: DLT reduces manual efforts required to perform reconciliation and resolve disputes. The current practice of managing policy and claims data in separate ledgers can lead to inconsistent master and transaction data, resulting in erroneous, duplicated information, as well as a significant loss of time reconciling and correcting this data. This not only slows down the process but also forms a source of contract uncertainty. DLT is expected to bring significant...

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