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Author:Baird, Maria 

Working Paper
Distributed Ledger Technology in Payments, Clearing, and Settlement
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.
AUTHORS: Wang, Kathy; Ng, Wendy; Fahy, Linda; Malone, Brendan; Badev, Anton; Marquardt, Jeffrey C.; Mills, David C.; Liao, Kimberley; Chen, Clinton; Ellithorpe, Max; Kargenian, Vanessa; Brezinski, Timothy; Ravi, Anjana; Baird, Maria
DATE: 2016-12

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