1. What is preventing the widespread adoption of blockchain by financial institutions?
More institutions than ever before have become curious about blockchain. In fact, according to Deloitte's 2021 Global Blockchain Survey, almost 80% of the respondents shared that digital assets would become very important to their respective industries over the next 12 months.
Even though digital assets are being used more broadly, there are still obstacles that must be overcome prior to mainstream adoption by financial institutions.
Among these challenges is identity, which is often an after-thought that runs in opposition to the pseudonymity and decentralized nature of Ethereum (ETH), creating compliance challenges for issuers and investors alike.
Furthermore, governance has also proven to be an obstacle and risk due to the number of hard forks that typically occur during Ethereum upgrades. Finally, compliance is often hindered by transaction limitations within the technology architecture.
Continue reading: https://cointelegraph.com/explained/why-a-securities-specific-blockchain-is-needed-explained
More institutions than ever before have become curious about blockchain. In fact, according to Deloitte's 2021 Global Blockchain Survey, almost 80% of the respondents shared that digital assets would become very important to their respective industries over the next 12 months.
Even though digital assets are being used more broadly, there are still obstacles that must be overcome prior to mainstream adoption by financial institutions.
Among these challenges is identity, which is often an after-thought that runs in opposition to the pseudonymity and decentralized nature of Ethereum (ETH), creating compliance challenges for issuers and investors alike.
Furthermore, governance has also proven to be an obstacle and risk due to the number of hard forks that typically occur during Ethereum upgrades. Finally, compliance is often hindered by transaction limitations within the technology architecture.
Continue reading: https://cointelegraph.com/explained/why-a-securities-specific-blockchain-is-needed-explained
