Distributed Ledger Technology in Payments, Clearing, and Settlement

Anton Badev, Maria Baird, Timothy Brezinski, Clinton Chen, Max Ellithorpe, Linda Fahy, Vanessa Kargenian, Kimberley Liao, Brendan Malone, Jeffrey C. Marquardt, David Mills (), Wendy Ng, Anjana Ravi and Kathy Wang

No 2016-095, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Digital innovations in finance, loosely known as fintech, have garnered a great deal of attention across the financial industry. Distributed ledger technology (DLT) is one such innovation that has been cited as a means of transforming payment, clearing, and settlement (PCS) processes, including how funds are transferred and how securities, commodities, and derivatives are cleared and settled. DLT is a term that has been used by the industry in a variety of ways and so does not have a single definition. Because there is a wide spectrum of possible deployments of DLT, this paper will refer to the technology as some combination of components including peer-to-peer networking, distributed data storage, and cryptography that, among other things, can potentially change the way in which the storage, recordkeeping, and transfer of a digital asset is done.

Pages: 34 pages
Date: 2016-12
New Economics Papers: this item is included in nep-ino and nep-pay
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:2016-95

DOI: 10.17016/FEDS.2016.095

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