Cryptoassets, such as Bitcoin and Ethereum, have emerged as an alternative asset class. This is reflected by new products from traditional financial service providers and portfolio allocations from institutional investors. In addition to cryptoassets, many enterprise applications for the underlying blockchain technology have emerged. This novel data structure has the potential to improve transparency and efficiency across many legacy systems.
The complexities associated with cryptoassets and enterprise blockchain technology remain a key challenge for widespread institutional adoption. As organizations begin to grapple with this new technology, they need to account for the complex regulatory, tax, auditability, risk, and compliance implications.