Trends Report

Blockchain Has Not Reshaped Core Banking

Blockchain Hasn’t Revolutionized Core Banking, But Integrations Are Becoming Essential

August 12th, 2022
With contributors:
Oliwia Berdak , Carine Lam , Sam Bartlett

Summary

Contrary to what blockchain enthusiasts were predicting a few years ago, distributed ledger technology (DLT) hasn’t become the foundation of core banking platforms to date, and there are no signs that this will happen. Instead, the focus has been on supporting integration with DLT-based networks through APIs and toolkits. Many deployments remain in the proof-of-concept or pilot stages. This report summarizes DLT-related capabilities that core banking vendors are offering today and provides an overview of how DLT and core banking work together and how far banks’ technology teams should consider DLT capabilities and requirements when selecting core banking solutions.

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