The adoption of a limited number of georeferencing structures that have global applicability should ease one area of inter-operability for Smart Ledgers, namely sharing geospatial information.
Smart ledgers are the confluence of distributed ledger (aka blockchain) technology with embedded computer code, cryptography, and consensus techniques for validating transactions. Smart ledgers offer the very real potential to organise cooperative forms of commerce using transactions less susceptible to central third party monopolies or cheating.
Distributed Futures is a significant part of the Long Finance research programme managed by Z/Yen Group. The programme includes a wide variety of activities ranging from developing new technologies, proofs-of-concept demonstrators and pilots, through research papers and commissioned reports, events, seminars, lectures and online fora.
Distributed Futures topics include mutual distributed ledgers, artificial intelligence, cryptocurrencies, blockchains, FinTech, RegTech, and the internet-of-things. Distributed Futures has already published significantly on smart ledgers and completed two large pieces of research with the Cardano Foundation - “Responsibility Without Power? The Governance Of Mutual Distributed Ledgers (aka Blockchains)” in 2017, and “The Missing Links In The Chains? Mutual Distributed Ledger (aka blockchain) Standards” in 2016.
Smart ledgers can increase trust in third party digital relationships and trade transactions, at a time when these are increasingly threatened. Wider beneficiaries of the research include:
- Industry: The wide applicability of smart ledgers means that we intend to engage with a diverse range of industries including banking, insurance, trading, shipping, logistics, identity, law, accountancy, agriculture, forestry, fishing, music, advertising, mining, construction, manufacturing, transportation, utilities, the voluntary and public sectors.
- Entrepreneurs: Our research programme will be shared openly to speed learning and innovation.
- Regulators: Our research will contribute to thinking and consultations.
- Researchers: Our programme aims to become one of the core research hubs for smart ledgers.
- Financiers: Our network provides access to a ground-breaking new industrial sector for trade and investment.
- Governments: Our community should help governments shape policy for the common good
“Time is nature’s way to keep everything from happening all at once” - John Archibald Wheeler (American Theoretical Physicist). Thanks to the synergy of Timestamping and Smart Ledgers, there is now a way to accurately track a…
At a time when the velocity of change in technology and systems is challenging the business and economic models for conducting financial services, it is prescient to analyse the cause and effect of financial scandals past and present.
The governance of cryptocurrencies requires a more clearly defined link between their novel money supply algorithms and traditional economic and financial analysis.
The development of large-scale quantum computers will threaten the security of computer networks and services that depend on public key encryption, including Smart Ledgers.
Conceptually, the impact of Smart Ledgers will be realised by reduced cost frictions associated with processes such as paperwork, identity checking, facilitating new business opportunities, and reducing volatility associated with international trade.
Although Mutual Distributed Ledgers (MDLs) are often referred to as ‘trustless networks’ due to the way that transactions are managed, in reality, trust and effective governance are critical factors in the success of an MDL.
Mutual distributed ledger (MDL, aka blockchain) technology has captured a great deal of attention. As with any new technology, MDLs expose organisations to new risks. Where do existing standards cover the risks?