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Blockchain technology has potentially vast implications for countless aspects of the economy and society. Bitcoin and other cryptocurrencies are just one of many possible applications of this technology. Technological developments in this area could completely transform transaction systems as we know them today. After all, the existing financial infrastructure fails to move money and information at the same speed, leading to complexity and inefficiency. The failure points in many financial-transaction systems are broadly relevant across industries. The potential benefits of progress here are enormous as transaction fees represent an estimated 6% of global GDP.1

In this paper, we outline eight exciting impacts and opportunities from blockchain technology.

 

VIEW PDF »

 

1 McKinsey, 2020

2 Company meetings, January 2021

3 A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and are backed by a reserve asset.

4 A neobank is a tech company that provides banking services via mobile app or website.

Important Risks: Investing involves risk, including the possible loss of principal.

The views expressed herein are those of Wellington Management, are for informational purposes only, and are subject to change based on prevailing market, economic, and other conditions. The views expressed may not reflect the opinions of Hartford Funds or any other sub-adviser to our funds. They should not be construed as research or investment advice nor should they be considered an offer or solicitation to buy or sell any security. This information is current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Wellington Management or Hartford Funds.

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Insight from our sub-adviser, Wellington Management
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Equity Research Analyst
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Global Industry Analyst
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Equity Research Analyst

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