carry out real-time analysis on a far greater number of transactions , to meet anti-money laundering and anti-fraud requirements .
The future of blockchain So , while blockchain ’ s path to mass use in traditional financial services is still a bit murky , the standardisation of blockchain-powered financial assets , such as CBDCs , is something Kubli feels we are destined to see .
He adds : “ As regulations tighten , any assets that don ’ t embrace standardisation will be at risk of non-compliance . There could be exceptions , of course , but any projects that want to be adopted by major financial players will likely adopt this approach .
“ Once implemented , tokenised financial assets can bring in improved liquidity and new forms of financing for the entire economy .”
Sidhu agrees , saying the timing of when tokenised financial assets hit the market will depend on the institutional sector . “ Wall Street firms such as JP Morgan Chase , BlackRock , Fidelity and Goldman Sachs are defining their approach to blockchain technology , while 114 countries including the UK and US are exploring CBDCs .
“ Tokenisation of real-world assets could one day be a multi-trillion-dollar market . However , if blockchain and crypto are to become the norm in the future , strides in regulatory harmonisation , standardisation and technology are required .”
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