Digitalisation of financial services The digitalisation of financial services could result in new business models or products with disruptive potential in the financial sector. In particular, distributed ledger technology (DLT) has the potential to fundamentally change securities and payments business. However, this technology is still in its infancy.
There are substantial functional, operational, governance and legal aspects which need to be carefully looked at before thinking about possible mass adoption. Hence, the Eurosystem cannot, at this stage, consider using DLT in the market infrastructure. Nevertheless, we are exploring whether its possible future use could bring benefits. A multitude of different DLT approaches and models could jeopardise financial market integration by increasing fragmentation.