5Blockchain Applications in Asset and Wealth Management
Executive Summary
Blockchain is driving innovation in asset management. The asset management industry is characterized by many intermediaries providing different kinds of service, like settlement of securities. Thus, wealth managers have historically exploited trust arbitrage, and the information asymmetry between them and their customers. Blockchain by definition aims to decentralize transactions and thus may revolutionize the industry. While the first application areas focus on digitizing traditional tangible assets like Royal Mint Gold, more disruptive ones focus on fund management – like for example Melonport. The first very promising proofs of concept are being tested, and there are many trail-blazing start-ups entering the field. This is exactly what the asset management industry needs now – fresh ideas and real use cases to swing over all the stakeholders, including the regulator.
The main opportunities to leverage distributed ledger technology for wealth management centre on trust and safety. Offerings in the realm of digital identity and asset safekeeping, also for traditionally non-bankable assets, appear to be the sweet spot for wealth management firms. In addition, wealth management firms might want to look into offering additional DLT-enabled services as they mature and gain wider-spread adoption. Irrespective ...
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