DTCC, Clearstream, Euroclear and BCG Collaborate to Create Digital Asset Framework

PANews reported on May 29 that according to Crowdfundinsider, today, DTCC, Euroclear and Clearstreem announced that they are working with Boston Consulting Group to develop a "blueprint" for the global digital asset ecosystem. The document, titled "Advancing the Digital Asset Era Together," is said to involve reviewing approximately 100 regulations and white papers in multiple jurisdictions, as well as more than 20 interviews with various market participants and technology vendors.

Nadine Chakar, Managing Director and Global Head of Digital Assets at DTCC, said that while many companies have seen the potential of Blockchain technology, including lower risk and lower costs, the financial services industry still needs to turn to distributed ledger technology.

The above blueprint includes the following six principles: legal certainty, regulatory compliance, resilience and security, protection of customer assets, connectivity and interoperability, and operational scalability. The companies expect that by 2030, there will be a $16 trillion opportunity for global illiquid assets to be transformed into digital assets. Although opportunities exist, innovation and adoption remain fragmented.