Michelle Seitz, head of William Blair Investment Management, discussed the potential impact of blockchain on the asset-management industry with the Financial Times.
Blockchain, an online public ledger, was developed to keep track of who owns bitcoins, but now the finance industry is questioning if the technology could disrupt the way it operates. Proponents say the technology will revolutionize the finance industry, eliminating the need for clearing and settlement, the process by which ownership of a security changes. This could lead to a reduction in staffing and lower fees for investors.
"I do believe that [blockchain] has the power to disrupt the plumbing of the asset management industry, and if it does, it will speed the service and the delivery of what we do for the client, and cut out costs,” says Seitz in the article, “Blockchain could be totally transformative for fund industry,” by Attracta Mooney. “It could be a massive disrupter to the industry, but in a good way.”
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