Sharing Ledgers for Sharing Economies: An Exploration of Mutual Distributed Ledgers (Aka Blockchain Technology)

47 Pages Posted: 8 Dec 2017

See all articles by Michael Mainelli

Michael Mainelli

Gresham College; Z/Yen Group

Mike Smith

Z/Yen Group Limited

Multiple version iconThere are 2 versions of this paper

Date Written: November 7, 2015

Abstract

Mutual distributed ledgers (MDLs) have the potential to transform the way people and organizations handle identity, transaction and debt information. MDL technology provides an electronic public transaction record of integrity without central ownership. The ability to have a globally available, verifiable and untamperable source of data provides anyone wishing to provide trusted third party services, i.e., most financial services firms, the ability to do so cheaply and robustly. Blockchain technology is a form of MDL.

The InterChainZ project was a consortium research project to share learning on MDLs during the summer of 2015. The study found that InterChainZ showcased several distributed ledger configurations and numerous variants, exploring how they might work in a set of agreed “use cases.” The outputs were a series of functioning, interlinked MDLs along with software, explanatory materials and website information. The research consortium concluded that MDLs incorporating trusted third parties for some functions had significant potential in financial services, such as know-your-customer (KYC), antimoney-laundering (AML), insurance, credit and wholesale financial services.

Suggested Citation

Mainelli, Michael and Mainelli, Michael and Smith, Mike, Sharing Ledgers for Sharing Economies: An Exploration of Mutual Distributed Ledgers (Aka Blockchain Technology) (November 7, 2015). Journal of Financial Perspectives, Vol. 3, No. 3, 2015, Available at SSRN: https://ssrn.com/abstract=3083963

Michael Mainelli (Contact Author)

Gresham College ( email )

Barnard's Inn Hall
Holborn
London, EC1N 2HH
United Kingdom

Z/Yen Group ( email )

41 Lothbury
London
United Kingdom

Mike Smith

Z/Yen Group Limited ( email )

41 Lothbury
London
United Kingdom

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