Contemporaneous financial intermediation

Artikel

Digital innovations in banking and payments recently have garnered a great deal of attention. Specifically, distributed ledger technology (DLT) has the potential to fundamentally change the roles and responsibilities of stakeholders in the financial sector. DLT is a novel and fast-evolving approach to record and share data, e.g., payment transactions, among members of a decentralized network. Using transaction cost theory, the paper examines how DLT will change the cross-border payment infrastructure. DLT can reduce the overall transaction costs potentially resulting in the disappearance of correspondent banks.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Digital Finance ; ISSN: 2524-6186 ; Volume: 3 ; Year: 2021 ; Issue: 1 ; Pages: 25-44 ; Cham: Springer International Publishing

Classification and Topics

• Classification: Wirtschaft ; Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General ; Comparative Analysis of Economic Systems
• Subject: Distributed ledger technology ; Cross-border payments ; Transaction costs ; Correspondent banking ; Ripple ; Intermediation

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Merz, Markus
• Event: Veröffentlichung
• (who): Springer International Publishing
• (where): Cham
• (when): 2021

Further information

• DOI: doi:10.1007/s42521-021-00029-3