11th January 2023 Digital Bytes

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Blockchains are being used more than you may realise - the implementation of blockchain technology as a resource has enabled several businesses to improve operational processes. Recent developments have shown that blockchains can be used for more than just payments and finance-related functions. Companies are finding new ways to transform their businesses in designing new products and services whilst driving through greater efficiencies and cost savings. Using blockchain technology it is like using a supercomputer where many parties can interact at the same time and use an immutable, cryptographically secure yet transparent database.

Institutions successfully use blockchains to create and process digital assets - with over $20 trillion of bonds being issued a year and $100trillion in funds, not to mention the $trillions a day the FX markets handle, it ought to be of no surprise that financial insti…