Smart contracts and syndicated loans

Blockchain is a technological revolution that can shift the balance of power in the field of communication, business, politics and law from centralised authority. This could have a positive impact with the use of global payment systems, digital assets, decentralised governance, and even decentralised legal systems, transforming the operational aspects of corporate governance and democratic institutions along with reduction in the number of middlemen who act as economic intermediaries and regulators. This is done by transferring of digital property or data, which are unique in nature, in a secure and immutable way. The technology is the genesis of digital currency (currency not backed by the sovereign authority), smart contracts, decentralised marketplaces, decentralised communication platforms and internet-enabled assets. ¹