At LF Decentralized Trust (LFDT), our role is to champion the development and deployment of our technologies by a truly global community. We work hard to nurture innovation and ensure the open development and governance required for resilient code and, by extension, implementations.
Now, after more than a decade of work by our community, we are seeing the results as more and more financial institutions around the world introduce new digital asset platforms built on our technologies. These deployments are coming into production after years of testing and trialing. As an open source software foundation, we have a front row view of the development work but are intentionally removed from implementations. Our members, maintainers, service providers and the institutions themselves drive these deployments.
So, to get an assessment of the market adoption and impact of our technologies, we commissioned Ledger Insights to look at what institutions are building and which technologies they are choosing. The result is the “Institutional adoption of LF Decentralized Trust technologies” report released today. (See my Linkedin article for more on why LFDT commissioned this report.)
The research reveals that, among financial platforms in production or with a clear path to it that disclose their technology choice, almost 30% run on LFDT projects. But, according to the report’s findings, that number alone understates the story. What stands out is the caliber of institutions involved.
"What struck me most was the concentration at the top. Three of the largest central bank projects, all three of the world's biggest CSDs and three of the five largest G-SIBs all use LFDT technologies," said Nicky Morris, editor of Ledger Insights. "That pattern wasn't obvious going in. It suggests that when the most systemically important institutions choose blockchain infrastructure, they gravitate toward open source with strong governance."
The report goes on to document 80 LFDT deployments, an eye-opening list of institutional platforms processing billions of dollars of transactions. It also includes deep dives into Project Agora, Citi Token Services, Clearsteam, Fnality, Pontes, the Swift Ledger, and others.
Additional topics include:
Go here to see the full report.