One of the most significant innovations in compliance will come through the incorporation of blockchain. There are three specific areas where I see blockchain directly impacting the compliance profession:
1. Third parties. With blockchain,a business can maintain immutable records of its due diligence process for a specific third party or a specific regulatory review. Due diligence delays would be eliminated by providing immediate and real-time access to the data, collection of information from potential third parties, and analysis of the information. A compliance officer could then move the process forward through verification and validation.
