State Street is on the verge of putting a significant amount of its workflow on a blockchain. The financial corporation with $2tn in assets under management is now testing 10 early stage blockchain tools that could help automate everything from internal operations to transactions between business and consortia-level multiple-party deals.
Up Next in Blockchain
Blockchain technology could hold the key to lowering the cost of real estate transactions by streamlining processes and reducing intermediaries. Potential areas of application include purchasing, leasing, and property management.
Lower Real Estate Transaction Costs With Blockchain Technology
Advocates of decentralized ledger technology say it can streamline transaction processes, reduce fraud, eliminate middlemen, and cut costs.
The Globe and Mail
De Beers, the world’s largest diamond producer, is using blockchain technology in a pilot project to track diamond sales. Participants can view all transactions while identities and the value of sales are hidden. The goal is to reassure buyers that the gems they’re purchasing are both genuine and not conflict diamonds.
Diamond Trade Turns to Blockchain Technology