Distributed Ledger Technology (DLT) is rapidly evolving, demonstrating the potential to revolutionize the financial industry. Driven by industry initiatives, DLT is moving from theoretical discussions to practical applications.
Across the financial services sector, the pace of DLT development is accelerating. Speculation is giving way to tangible results in the form of proofs of concept, simulations, and prototypes. Swift has been actively analyzing and testing the potential applications of blockchain technology within the financial industry.
Over the past few years, significant advancements have been made, addressing key requirements for DLT to potentially achieve industry-wide adoption. These advancements are making the technology more practical and efficient for various financial applications.
