基于区块链的证券发行

Wulf A. Kaal, Samuel A. W. Evans
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引用次数: 2

摘要

区块链技术有可能补充现有的证券发行基础设施。在研究了历史尝试的缺点之后,本文分析了基于区块链的证券发行的赎回特征,包括较低的总体成本结构、大幅缩短的结算周期、交易对手风险和系统性风险降低、提高透明度等。作者研究了基于区块链的证券发行的机会和风险之间的权衡。
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Blockchain-Based Securities Offerings
Blockchain technology has the potential to supplement the existing infrastructure for securities offerings. After examining the shortcomings of historical attempts, the article analyses the redeeming features of blockchain-based securities offerings including lower overall cost structure, substantially reduced settlement cycle, counter-party risk and systemic risk reduction, enhanced transparency, among others. The authors examine the tradeoffs between opportunities and risks of blockchain-based securities offerings.
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