Blockchain: A chance for turnaround procedure modernisation by Yutong Zhang

Blockchain brings value reconstruction to assets, including assets digitalisation, standardisation, registering, and precise pricing. In the “traditional” insolvency practice, there are always three pain points:

  • asset tracking and confirmation of its ownership;
  • service and asset operation; and
  • asset pricing and evaluation.

There is a solid connection between all participants of a turnaround procedure. They can all be registered to a blockchain system. This secured, transparent, and efficient connection is credited for the following reasons: the asset digitalisation and standardisation are the fundamental base; decentralised registering is part of theoretical methods, and precise pricing is a key solution. In short, the blockchain system could open the door for the modernisation of turnaround procedures.