The integration of blockchain technology and smart contracts is reshaping the wealth management landscape.
Benefits of Blockchain in Wealth Management include enhanced transparency and trust, efficient record-keeping, cost reduction, improved security, and global accessibility.
Smart Contracts in Wealth Management automate payments and settlements, portfolio management, inheritance and estate planning, client agreements, and tokenization of assets.
Challenges in adoption include regulatory uncertainty, technical complexity, scalability issues, and the need for client education.