Distributed Ledger Technology in Payments, Clearing, and Settlement
Abstract: Digital innovations in finance, loosely known as fintech, have garnered a great deal of attention across the financial industry. Distributed ledger technology (DLT) is one such innovation that has been cited as a means of transforming payment, clearing, and settlement (PCS) processes, including how funds are transferred and how securities, commodities, and derivatives are cleared and settled. DLT is a term that has been used by the industry in a variety of ways and so does not have a single definition. Because there is a wide spectrum of possible deployments of DLT, this paper will refer to the technology as some combination of components including peer-to-peer networking, distributed data storage, and cryptography that, among other things, can potentially change the way in which the storage, recordkeeping, and transfer of a digital asset is done.
File(s): File format is application/pdf https://www.federalreserve.gov/econresdata/feds/2016/files/2016095pap.pdf
Part of Series: Finance and Economics Discussion Series
Publication Date: 2016-12
Pages: 34 pages