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Digital journeysDecember 12 2023

The long march to digitising capital markets

Blockchain technology is not new, but it has failed to live up to its promise. There have been critical developments this year, however.
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The long march to digitising capital marketsImage: Getty Images

Journalists are always looking for the next great invention which will change how people work, live and consume. If any such invention does not meet these wild expectations, the media quickly moves on. 

But a loss of interest does not necessarily mean the technology has failed; it could be simply that the story is plodding along. That is certainly the feeling many have about blockchain, otherwise known as distributed ledger technology (DLT). Was not this revolution that began in 2008 meant to have upended every element of financial services by now? 

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Michael Klimes is the investment banking and capital markets editor at The Banker. He joined the publication from Money Marketing where he was acting editor. He wrote about pensions for nine years on the retail and institutional side. He won B2B pensions journalist of the year at the Headline Money Awards 2022.
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