Building Blocks for Better Compliance: Can Blockchain Decrease The Burden of Financial Regulations
Regulatory oversight within the financial services industry increased dramatically after the 2008 global financial crisis. Many new policies required more data submission in less time. Blockchain has the potential to provide a holistic solution for regulatory reporting. This paper examines the current methodologies for regulatory reporting and considers both a theoretical and technical blockchain solution in the context of the European regulation MiFID II.