ABSTRACT
The focus of this chapter will be on how this blockchain technology should be appropriately implemented in the financial services industry. Once widely overlooked by many due to its association with the controversial digital currency Bitcoin, the underlying technology, the blockchain, has since become a large area of focus for most major financial institutions. At its core, the blockchain serves as an immutable, secure, distributed ledger shared among the participants connected to it. The primary attributes of the blockchain, including transparency, speed of settlement, security, and automation, have the potential to significantly change the way financial institutions operate today. This chapter will also address the implications of moving towards a blockchain general ledger and the hurdles that must be overcome.
