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With the help of Blockchains, up to $2.6 Billion could be saved

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February 24, 2018 | 

Joanna Newman |  0 Comments| 

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Nearly every reluctant people towards cryptocurrencies failed to deny the potential of blockchains. The way it works can be exploited in order to gain various type of benefits, in the world of finance, but not only. The Calastone global funds network recently published the results of researches it conducted on the blockchain technology, and shown how it could be used by global mutual funds to save up to $2.6 Billion.

How can blockchain benefit mutual funds?


Blockchain has been introduced to the world as the backbone of cryptocurrencies, and it makes it possible for transactions to be done quickly and safely. It doesn’t requires anyone to have control over it in order for the blockchain to fully work; also, more and more financial institutions plan to implement it to their system. It has many interesting features, such as the possibility to allow an efficient circulation of data on a specified network.



It mainly allow to save money, as some steps that were done by human beings can be delegated to the blockchain. Making a transaction through a blockchain is a very simple operation: the sender and the receiver specify the data related to the exchange, and a third party verifies these data. Once they’re proven to be exact, the transaction is validated and the money is sent. Above that all, such operation can happen in a matter of seconds, depending on the level of performance of the blockchain.

Calastone is openly in favor of blockchain technology


Calastone is one of the pioneers in the finance world who decided to digitize their system, and recently claimed the benefits they acquired from such action. So far, the global funds market was able to save £458 million, thanks to this technology, and more is to be expected in the future. Every requirement related to cost-effectiveness, regulation needs and others are efficiently met by this technology.

This British mutual fund isn’t the only one who can benefit from the blockchain; if other mutual funds in the world decide to implement this technology into their system, Calastone estimates up to $2.6 billion of saved money on the 2019 milestone, which is a lot of money.

Blockchain is actually more than popular


Even if several people in the financial world doesn’t expect a bright future for cryptocurrencies, most of them are praising the blockchain technology. In a conference that took place in Florida, the term “sociological innovation” was used to define the blockchain, as it could bring a lot of benefits to our society, and not only on its financial side.

The blockchain doesn’t just help save money: it also help to generate some, and through many means. The Ethereum is actually one of the most promising blockchains there is, as it can host more than mere cryptocurrencies transactions. Engineers are working on ways to efficiently make it possible for videos to be streamed on the blockchain, as well as ways to host complex applications in there, which is still a hard task to do at the moment.

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