Distributed ledger technology and banks: trends and prospects

The research focuses on the identification of main trends in implementation distributed ledger technology (DLT) into the traditional banking business. It contains basic background analysis, an empirical analysis of practical examples of DLT, identification of existing implementation barriers, forecast of DLT and cryptocurrencies medium-term market volumes in the banking. Recommendations on the prospects for practical use of technology by banks and financial companies are given. The focus of the study is on the technology itself (DLT), rather than on the cryptocurrency market analysis, as one of the «products» of the technology. The financial sector (BFSI), both now and in the medium term, retains its role as a «main player» in the DLT implementation processes. In the banking industry, there is the possibility of rapidly modifying existing business models and processes in the context of the «immateriality» of the services provided and the rapid development of digital technologies. This causes their attention to DLT. In the strategic prospects, implementation preference should be given to projects with lower energy consumption while ensuring the required speed and security of transactions.