Source: Finance Magnates
Blockchain technology has received a lot of attention in recent years, and its implications go beyond cryptocurrencies. Regulatory technology (Regtech) is one area where blockchain is reshaping the landscape.
Regtech is the use of technology to simplify and improve regulatory compliance processes for financial firms. In this article, we will look at how blockchain is affecting Regtech and how it is changing regulatory compliance.
Transparency and Security are Being Improved
Blockchain, also known as distributed ledger technology, provides unrivaled transparency and security. Because of its decentralized structure, all network participants have access to the same information, removing the need for middlemen and lowering the danger of fraud or manipulation. Every transaction recorded on the blockchain is immutable…
Read full article: https://www.financemagnates.com/cryptocurrency/regulation/the-impact-of-blockchain-on-regtech-revolutionizing-regulatory-compliance/
