Blockchain: A chance for turnaround procedure modernisation by Yutong Zhang

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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.