The digitalization of financial instruments is leading to significant innovations in capital markets operations. Anthony Bufinsky shares why the possible benefits of smart bonds cannot be leveraged, as part of ProjectsToWatch2023.
of settlement time to one day, but this is a temporary bandage. Capital market participants want accurate and complete information and expedited settlement; blockchain technology can make it possible, and the emergence of smart bonds is a step in this direction.The key function of smart bonds is the digitalization of debt instrument covenants into smart contracts.
Due to high-profile attacks on cryptocurrency exchanges, there is a perceived risk that smart bonds may be vulnerable to hacks and other security breaches. However, unlike cryptocurrencies, smart bonds are not bearer assets. Instead, ownership of smart bonds is automatically registered on the blockchain. Therefore, fraudulent transfers of smart bonds can be invalidated. Depending on the regulatory requirements, ownership of smart bonds may be recorded with transfer agents, too.
This commentary is provided as general information only. Arca Labs LLC does not provide investment advice and this discussion is in no way a solicitation or an offer to sell securities or investment advisory services.
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