World Bank: Blockchain Could Reduce Settlement Time to Seconds
A year after issuing the first blockchain-traded bond, the lender says blockchain technology could drastically cut settlement times and costs.
Blockchain technology could cut trade settlement time from days to seconds, a World Bank officer says.
“I think practical transactions allow you to see that the potential benefits [of blockchain], such as the reduction in settlement time,” says Paul Snaith, the multilateral lender’s head of operations for capital markets, speaking to WatersTechnology ahead of the one-year anniversary of the bank’s issuance of the first blockchain bond, Bond-i.
“You could have near simultaneous settlements if
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