It is too early for the widespread adoption of digital ledger technology ( DLT ) and smart contracts , according to a paper published by the international bank messaging co - operative SWIFT . SWIFT acknowledges that DLT and SCs are generating a “huge amount of interest”. The report highlights the need for consensus before DLT can be adopted on an industrial scale . SWIFT says that a consensus must be reached on the meaning and format of the data launched through DLT platforms , the formal legal processes surrounding it and the legal implications of the technology ’s use before adoption .
It is too early for the widespread adoption of digital ledger technology ( DLT ) and smart contracts , according to a paper published by the international bank messaging co - operative SWIFT . The report highlights the need for consensus before DLT can be adopted on an industrial scale . SWIFT says that a consensus must be reached on the meaning and format of the data launched through DLT platforms , the formal legal processes surrounding it and the legal implications of the technology ’s use before adoption .