Blockchain: Opportunities for Private Enterprises in Emerging Markets

M. Niforos, V. Ramachandran & T. Rehermann | International Finance Corporation (IFC)

Blockchain is an emerging technology that offers the possibility of re-engineering economic models and enabling the creation of markets and products that were previously unavailable or unprofitable across emerging markets. This report is intended to introduce readers to current developments in distributed ledger technology, or blockchain, with the vantage point of possible benefits to emerging markets. Blockchain is a database ledger that functions like a distributed network. The financial services industry has been an early experimenter on and adopter of blockchain technology. Financial institutions around the world find their business models continually tested by technological innovation. The emergence of innovative digital financial technologies (fintech), including blockchain, is challenging traditional players in the sector by demonstrating new ways to deliver value across the entire financial value chain.

Categories:
Access to Finance, Mobile Banking, Payment Systems
Pages:
60
Year of publication:
24.10.2017
External Document: