The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Wed, 20 May 2026 15:19:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Blockchain in the Banking Sector: A Review of the Landscape and Opportunities – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Blockchain in the Banking Sector: A Review of the Landscape and Opportunities https://corpgov.law.harvard.edu/2022/01/28/blockchain-in-the-banking-sector-a-review-of-the-landscape-and-opportunities/?utm_source=rss&utm_medium=rss&utm_campaign=blockchain-in-the-banking-sector-a-review-of-the-landscape-and-opportunities https://corpgov.law.harvard.edu/2022/01/28/blockchain-in-the-banking-sector-a-review-of-the-landscape-and-opportunities/#comments Fri, 28 Jan 2022 13:47:21 +0000 https://corpgov.law.harvard.edu/?p=142849?d=20220128084721EST Posted by David L. Portilla, David J. Kappos, Minh Van Ngo, Sasha Rosenthal-Larrea, John D. Buretta and Christopher K. Fargo, Cravath, Swaine & Moore LLP, on Friday, January 28, 2022
Editor's Note:

David L. Portilla, David J. Kappos, Minh Van Ngo, Sasha Rosenthal-Larrea, John D. Buretta and Christopher K. Fargo are partners at Cravath, Swaine & Moore LLP. This post is based on a Cravath memorandum by Mr. Portilla, Mr. Kappos, Mr. Ngo, Ms. Rosenthal-Larrea, Mr. Buretta, Mr. Fargo, and Arvind Ravichandran.

I. Introduction

When interest in blockchain began to accelerate a few years ago, the expectations surrounding its uses were lofty. Blockchain was touted as technology that could fix our supply chains, our healthcare system and even our democracy. Yet, when the experiments conducted on potential blockchain applications, including pilot programs conducted in the financial services and banking industry, fell short of these expectations, industry interest in blockchain use cases waned. In some cases, those interested in blockchain technology found that traditional, centralized databases could provide the same functionalities as blockchain at a lower cost.

However, with the recent shift in the U.S. government’s attitude towards blockchain and cryptoassets, now is an opportune time for the U.S. financial industry to revisit the more mature, developed technology, using blockchain to improve existing products and services and offer new, more cost-effective products and services. Blockchains, both public and private, can be implemented across a variety of use cases in the financial world, opening up new sectors of banking services that benefit both banks and customers by allowing faster, cheaper, more secure and more inclusive transactions.

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