The European Securities and Markets Authority (ESMA) has released a discussion paper examining the implications of Distributed Ledger Technology (DLT) when applied to securities markets, including the possible benefits, risks and challenges.
While broad based adoption in the banking industry could take as long as a decade, exchanges and certain behind the scenes players could feel the impacts of “permissioned” blockchain uptake in as little as 12-18 months.
Regulated crowdfunding on digital platforms offers enormous potential for data-driven transparency and credibility for private issuers, regulators and investors, along with increased efficiency and cost reductions. *UPDATED* Video now available.
Fintech is creating new opportunities for collaboration between firms offering new financial services while causing headaches for institutions wed to the old ways of doing business.
XII CEO John Turner was in Helsinki this week speaking at the second Real Time Economy Conference hosted by Aalto University and XBRL Finland. RTE is a network of participants across the business reporting supply chain in Finland, collaborating on ways to digitise, standardise and automate a wide range of business processes: from e-invoicing to […]
The business site Forbes has a blog post this week on the problem facing companies with huge amounts of data coming in through multiple streams, which can lead to a situation where an organisation is “data rich but insight poor”. Adding to this problem is that data has a lifecycle, during which its value to […]
Blockchain and other emerging technologies have the potential to improve a wide range of existing business processes. For them to work, however, they will need to be able to rely on a wide range of high quality structured data, including XBRL documents prepared by companies.
Overstock.com, an internet retailer, has announced plans to issue public stock in the US using distributed ledger technology. The implications for regulatory compliance will also be significant and will impact the business reporting supply chain as trading stocks using these technologies increasingly seems not just plausible but attractive.
It would be hard to understate the impact blockchain and the processes it supports are going to have on the financial industry and business reporting in general. Data standards like XBRL definitely have a critical role to play, which is why this topic will be a key point of discussion at our Singapore conference as well as some other upcoming events.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
