Bain & Company, an international management consulting firm, recently released a report on the profound implications of banks' adoption of Distributed Register Technology (DLT).
Mr. Bain interviewed bankers, technologists, and payments officials to determine whether the "complex pipeline changes that make payments" are successful and whether banks are well prepared for radical changes in the financial system. will follow them.
The essential: the adoption and implications of the DLT "will create winners and losers in the banking sector."
Bath: The technology of distributed registries "will create winners and losers in the banking sector." Tweet This
Starting with explaining how DLT works, Bain highlights both the strengths of the system and the particular relevance of payments.
As a result of these benefits, Bain theorizes that DLT will first gain ground in specific systems for cross-border payments, followed by a broader adoption for the future. other types of payments triggered by the banking use of digital assets. like XRP.
Using Ripple as an example, Bain illustrates how the first phase of DLT adoption is already underway:
"Perhaps the most well-known company that is trying to solve this problem, the San Francisco-based start-up, Ripple, has built an operational system for international payments around a protocol and of a Customized Currency. […] For international payments, Santander recently announced one of the first Ripple-based payment applications aimed at consumers. "
Bath suggests that banks that are willing to go from experimentation to action as Santander and others have done should wonder if they prefer to be innovators or fast followers.
If the adoption of DLT will create winners and losers, innovators and fast followers will have a chance to win.
Read the full report here .