It’s all about the business case
Beyond the technological challenges or regulatory limitations, this ability to project DLT’s impact is the single largest obstacle to DLT’s rapid growth. How to define the impact that a DLT deployment will have when few have proven its benefits at scale and when the ecosystem dependencies are so significant?
We began 2020 with many business cases being broad and largely conceptual – delivering short term benefits but then opening the door to more significant, longer term efficiencies. Given the high cost of DLT deployments and the insufficiency of short term benefits, the success or failure of many DLT projects relied on organisations’ faith in what may eventually become possible.
As the year progressed, however, applications of DLT became more targeted and more specific – moving away from ecosystem disruption towards solving practical issues in workflows and investment cycles. A new breed of pilots in 2020 have demonstrated quantifiable benefits in securities issuance, corporate actions and other areas – which will pave the way for accelerated innovation in 2021.