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Newly Citi Provides the Report on Approval of Digital Assets and DLT
newly Citi Provides the report in- In-depth analysis of the growth, challengesand regional changes in Approval of digital assets And distributed notebook technology (delt) over the past year.
Comprehensive Analysis of Developments and Challenges in Digital Assets and DLT Sector
On August 23, Citi Provided a comprehensive analysis of developments and challenges faced by digital assets And distributed notebook technology sector (DLT). despite the setbacks of 2022 in particular for Some crypto companies like ftx, research offers an optimistic view on Development of DLT and digital assets.
Increase in Participation and Interest in DLT and Digital Assets
The report points out that a larger number of Companies are now participating with And show interest in DLT and digital assets. data shows important jump of 47% of companies in 2022 to 74% in 2023.
Management of Billions of USD through DLT Platforms
This increased involvement has led to management of Billions of USD through DLT platforms, incl over 20 major global financial institutions.
Challenges Faced by Companies in Implementing DLT
Interesting that challenges faced By these companies are less about technology itself and more about its implementation. the main Often the problems are rooted in human and procedural aspects of to merge new systems.
Different Adoption and Regulation Methods in Different Regions
Citi also Note that different regions about world He was adopted unique Methods of adoption and regulation of Cryptocurrency.
Focus on Institutional Liquidity and Access in Asia and Latin America
In Asia and Latin America, the primary focus is on Enhancing institutional liquidity and extending access to it more widely population.
Strong Regulatory Measures in Europe
On the other hand, Europe has a strong focus on regulatory measures, especially through initiatives like markets in Crypto assets (MiCA).
Favorable Outlook in North America
Meanwhile, North America saw a favorable outlook results from coding of diverse asset layers.
Uncertainty Surrounding Regulations
However, the report noted that an ongoing concern is the uncertainty surrounding the regulations.
Growing Momentum of Central Bank Digital Coins (CBDCs)
51% of Participants expressed concerns that unclear regulations might hinder this progressespecially in North America and Europe.
DLT Growth Rate Compared to the General Encryption Scene
at the same time, digital currency sector, especially the central one bank digital Coins (CBDCs) are gaining momentum.
currently 87% of market Stakeholders expect this sector to become viable by 2026, which is an increase of 72% over the previous year.
Transformative Capabilities of DLT
In general, DLT growth rate It seems more strong than that of the general encryption scene. This can be attributed to recent times challenges faced by encryption.
For context, 87% of Secretaries are actively involved in DLT and digital asset initiatives. But only 25% of asset owners active projects with a large percentage of 75% of Institutional investors remain Disengagement.
Realizing the Full Potential of DLT
Citianalysis finished with the focus on The transformative capabilities of DLT. beyond experimentation, technology It can provide great value in Simplify operations.
Still, for companies to take advantage of full Great potential and investments in Restructuring processes and systems will be necessary.
