Finance

How Blockchain Technology Is Impacting Financial Planning

Published

1 year ago

October 19, 2024

How Blockchain Technology Is Impacting Financial Planning

peshkov / Getty Images/iStockphoto

Blockchain technology, the technology that keeps cryptocurrency secure, has come a long way since its inception. Today, the technology doesn’t just power popular cryptos like bitcoin and ethereum — it is also the vehicle for storing and trading non-fungible tokens (NFTs) and supporting the tokenization of real estate and fine art.

Explore More: 5 Expert-Recommended Alternative Investments: How They Work and When To Invest

Read Next: 9 Things You Must Do To Grow Your Wealth in 2024

Blockchain is faster and more secure than traditional transactional methods and is playing a tremendous role in financial planning and wealth transfer, which only promises to grow with time. For instance, the market for tokenized assets could reach $2 trillion to $4 trillion by 2030, according to a recent McKinsey & Company report. This is a far cry from numbers of $10 trillion previously projected by Boston Consulting Group. McKinsey reported that we may see the most growth in assets like mutual funds, bonds, ETFs and loans.

“Blockchain technology is still in early days and requires a material amount of integration with existing processes and standards,” Anthony Moro, CEO of Provenance Blockchain Labs, told CoinDesk. “Most institutions recognize tokenization needs to be a large part of their business moving forward, but technical integration is where the rubber meets the road.”

Here’s a look at the role blockchain might play in key areas of financial planning.

It’s Going Viral: Want to Retire Rich? Suze Orman Says You’re Missing This Key Money Move

What Is Blockchain Technology?

First, let’s back up for a quick review of exactly what blockchain is and how it works.

Blockchain is, essentially, a permanent, shared record book in digital form, or a decentralized ledger of transactions conducted over peer-to-peer networks. The ledger tracks transactions and also aims to build a consensus about whether the transaction data is valid. With blockchain technology, users can confirm transactions without requiring a central clearing authority.

Check Out: 13 Cheap Cryptocurrencies With the Highest Potential Upside for You

Why Is Blockchain Important?

Blockchain aims to deliver stored information immediately and transparently on a ledger that can be accessed only by network members. Members share a single view of orders, payments, accounts and other information, which helps build trust, efficiency and financial opportunities.

Blockchain eliminates the need for central recordkeeping, and because the ledger is made public, everyone involved can easily gain access. This transparency helps accelerate the verification process, reduce the need for back-office functions, and promote security.

How Does Blockchain Work?

One key element of blockchain is that every transaction requires a security measure to protect the identities of transacting parties. To secure transactions of bitcoin and other cryptocurrencies, two keys are required — a private and a public key.

The public key is shared permanently in the log. It can be used to sign and encrypt a message. The private key is only known to users and acts as a pin code. A recipient uses this key to decrypt a transaction. The technology introduces speed, efficiency, security and reduced costs, albeit at the expense of tremendous environmental impact.

Processing transactions on the blockchain requires sophisticated computers that tend to be energy hogs. If this drawback can be addressed, we will undoubtedly see blockchain play an even larger role in financial planning. Here are a few ways it’s being used today.

Tokenization of Real Estate, Commodities, Fine Art and Illiquid Assets

Investors in fine art, commodities and real estate face several challenges. When you invest in art, you need a place to store and preserve the pieces, as well as insurance to protect it. By creating NFTs of artwork, these assets can be easily tradeable. They can even be duplicated, although this will diminish their ultimate value.

Tokenizing real estate via blockchain technology enables investors to deal in fractional shares, making investing in high-rise apartments or other commercial real estate more accessible to retail investors.

Streamlining Loan Funding and Dividend Payments

Smart contracts operate on the blockchain, with the terms of the agreement written into the code. Smart contracts eliminate the need for intermediaries for loan issuance or dividend payments. Blockchain can facilitate faster loan funding, as well as automatic dividend payments at faster speeds and lower costs.

Facilitating Faster Cross-Border Transactions

Because blockchain transactions are deregulated — without a central government authority behind them — cross-border transactions can take place quickly and seamlessly, with lower fees, according to a LinkedIn Pulse article by Charles Lau of Digital Perpetual.

P2P Lending Platforms and Crowdfunding

Likewise, blockchain is playing a role in facilitating peer-to-peer lending and crowdfunding transactions. Its security, transparency and speed can facilitate transactions at faster speeds and lower costs, with a smaller risk of fraud.

Whether you’re launching a business or seeking to invest in start-ups, blockchain can make it easier and more accessible.

Final Note

As much as blockchain has evolved this century, the technology is still in its relative infancy. As younger generations explore the possibilities, cryptocurrency, NFTs and other tokenized assets could play a large role in the transfer of generational wealth.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: How Blockchain Technology Is Impacting Financial Planning

Click to comment

Finance

Government finance statistics: deficit-debt relation

Published

3 hours ago

January 22, 2026

Press Room

Government finance statistics: deficit-debt relation

The financial accounts of the general government sector cover transactions in financial assets and liabilities as well as the stock of financial assets and liabilities.

The net lending (+) / net borrowing (-) (also known as surplus/deficit), together with the gross debt of the general government, are among the most important indicators in government finance statistics.

Generally, the movement in government debt can be linked with the government balance: in case a deficit is observed, one would expect to see an increase in debt, and in case of a surplus, some of it could be used to repay debt. However, this is not necessarily the case. Deficits can also be financed by the sale of financial assets, or alternatively, debt can be raised to finance the acquisition of financial assets. Therefore, the evolution of quarterly debt is also linked to the net acquisition of financial assets. The incurrence of liabilities not covered in the definition of the general government gross debt (mainly ‘other accounts, payable’), as well as the valuation differences and discrepancies, also play a role in explaining the change in debt.

Source datasets: gov_10q_ggnfa, gov_10q_ggfa, gov_10q_ggdebt

In the third quarter of 2025, the financing of the deficit (2.9% of quarterly GDP) explained the main part of the change in gross debt (4.5% of quarterly GDP) of the euro area. At the same time, the financing of the net acquisitions of financial assets (0.5% of GDP) and the repayment of liabilities not included in the general government gross debt (1.0% of GDP) also impacted the debt. Other differences between the change in debt and the deficit comprise notably certain revaluations of debt, adjustments between transactions and the change in stock at face value as well as discrepancies (0.1% of quarterly GDP).

This information comes from data on quarterly government finance statistics published by Eurostat today. The article presents a handful of findings from the more detailed Statistics Explained article on government finance statistics – quarterly data.

In 2020 and 2021, due to COVID-19 containment measures and policy responses to mitigate the impact of those measures, the change in debt was mainly influenced by large deficits, as well as acquisitions of financial assets.

Finance

Poole College of Management Launches Free Financial Literacy Program

Published

15 hours ago

January 21, 2026

Press Room

Poole College of Management Launches Free Financial Literacy Program

The Poole College of Management is launching a Financial Literacy Program for adults. The program is free and open to the public, regardless of your connection to NC State University.

Srini Krishnamurthy, program co-founder and associate professor of finance at Poole, says the goal of the program is “to equip participants with the knowledge and confidence to address financial decisions they face in everyday life, such as understanding interest rates and inflation, performing loan and mortgage calculations, budgeting, saving, investing through mutual funds, and planning for retirement.”

The curriculum is based on the most up-to-date financial research available, translated by professors into easy-to-understand practices and tools for use by anyone.

Real Research Impact

The idea for the Financial Literacy Program took root in 2022 during Krishnamurthy’s participation in an NC State faculty initiative called Strengthening the Impact of Research (STIR). “The program’s goal was to help faculty translate their research expertise into meaningful benefits for the broader community,” he says. “As part of the program, each participant was required to develop and present an idea with real-world impact.”

Around this time, college affordability was a hot topic. It was an issue that hit home for Krishnamurthy — several years earlier, when his daughter was applying to colleges, the two discussed what offers cost in practical terms.

“I built a spreadsheet that incorporated tuition, scholarships, and long-term implications, and walked her through the numbers. Equipped with this information, she confidently chose to attend NC State for computer science and graduated with very little college debt. That experience made clear to me how transformative basic financial knowledge can be, and how rarely it is accessible in a clear, practical form.”

Financial Literacy for All

Knowing that not every family had the knowledge or skillset to evaluate finance – after all, not every college-bound high school student is lucky enough to have parents with terminal degrees in finance – Krishnamurthy teamed up with another faculty member in the STIR program to address that.

They developed a successful financial literacy program for college students and delivered it through the Wake County Library systems and a Wake County Public School System high school. When the opportunity arose to start a similar program at Poole aimed at adults, Krishnamurthy said he was “eager to expand this effort.”

Classes are taught by current Poole professors, including Krishnamurthy, Umut Dur and Denis Pelletier. Topics include (but are not limited to) budgeting, investing basics, time value, loans, credit and retirement planning. Data from participants shows that comfort with major financial decisions increased by 45% by the end of the program, and objective understanding of investments and fees increased by 20%

The first set of classes are on Jan. 26th and 28th. Register using this Google Form.

Finance

Ken Ofori-Atta: Ex-Ghana finance minister US case adjourned, e go remain for ICE detention till April – BBC News Pidgin

Published

1 day ago

January 21, 2026

Press Room

Ken Ofori-Atta: Ex-Ghana finance minister US case adjourned, e go remain for ICE detention till April – BBC News Pidgin

Wia dis foto come from, GHANA FINANCE MINISTRY

Wetin we call dis foto, Di immigration judge order members of di public wey join di virtual hearing to leave as lawyers for di ex-minister request private hearing

one hour wey don pass

Read am in 7 mins

One US judge for di Annadale immigration court for Virginia adjourn hearing of di immigration case against ex-Ghana finance minister Ken Ofori-Atta, who dey face corrupting charges back home.

Di judge David Gardey move di hearing to 27 April.

Dis be in connection wit immigration wahala afta US Immigration and Customs Enforcement (ICE) arrest and detain di ex-finance minister for Virginia since 6 January 2025, sake of e overstay im visa.

Tori be say US authorities revoke di ex-minister visa for November 2025 wey he refuse to comot di kontri.

During di first appearance bifor di court on 20 January, lawyers for di ex-finance minister ask di court for private hearing.

By dis time many pipo join di virtual hearing sake of Ghanaians dey interested in di mata.

Two cases dey bifor di court – one of dem be bond application; wey mean say lawyers for di minister apply for di release of dia client from ICE custody wey di oda one be di immigration case proper.

How di minister appear for di court hearing

Dis be di first time since January 2025 wey di ex-minister dey appear for public afta e comot Ghana to di US for “medical attention.”

Di ex-Ghana minster appear for di Caroline detention centre as e dey wear one grey jacket, wey he wear black detention coverall.

He also dey wear blue face mask – di common one wey pipo wear during di covid 19 pandemic.

As e waka enter di isolated room, e comot di jacket, leaving im dark detention outfit.

E carry di jacket hang for chair behind a table for di centre of di empty room, wey e sidon.

Di minister also wear one armband for his wrist.

Few minutes later, Ken Ofori-Atta comot di chair wey e comot di lonely detention room briefly, bifor e return when di judge call im case.

As e return, e move im glasses wey e hang am on top his head wey e sidon for di chair dey face di camera.

As di judge call di case, lawyers for di minister, Christopher Chaisson and Kwao Amagashie tok say dem wan make di judge hear di case for private.

next hearing information — Wetin we call dis foto, ICE arrest di ex-finance minister on 6 Janaury 2026 wey dem keep am for di Caroline Detention centre until his first court appearance

Wetin happun during di virtual hearing as judge ‘ban’ di public

Judge David Gardey: Dis be di bond determination hearing for di mata wey involve Kenneth Ofori-Atta. Dem detain am for di Caroline detention centre wey he dey appear by Webex (virtual conference). Make di lawyers wey dey represent am enta dia appearance.

Lawyers: I be Christopher Chaisson, I dey on behalf of Enayat Qasimi and Kwao Amagashie on behalf of di respondent.

Judge David Gardey: Sake of di nature of di issues wey we discuss for di bond hearing, you pipo want di bond hearing to be private, as in make e dey closed to di public?

Christopher Chaisson: Yes, your honour. I make happy say you raise dis mata serf. I wan raise am bifor.

Judge David Gardey: Okay. I hear am.

Christopher Chaisson: For di record, your honour. Di oda issue also dey – di master calendar hearing. Wit di way di mata dey, some of di issues we go raise for di hearing be sensitive.

Judge David Gardey: You dey ask say di master calendar hearing also go dey private; closed to di public?

Christopher Chaisson: Yes. We wan clarify sometin small. We go like say make di two hearings all dey closed to di public.

However, for di bond hearing case, we go ask di court say make dem try anytin dem fit do for dia power, to finish di case [today]. I go wait for di court decision.

Judge David Gardey: I understand. So all di pipo wey join us for di Webex (online video conference), we go hear di mata in private under di US immigration law. Di law say if any party for di immigration case say make di hearing dey private and closed to di public, under di circumstances, di court go close di hearing.

If anyone dey for di Webex (online video platform) wey dey here to view dis hearing; either di bond hearing or di master calendar hearing, make everyone comot now sake of we neva go continue if pipo still dey on di online link. Only di parties for di case dey allowed to be present during di hearing.

Dat be how dem comot hundreds of Ghanaians wey join di virtual link to follow di proceedings for di hearing to continue.

Wetin go happun now

Afta dem arrest Ken Ofori-Atta for di US, his Ghana lawyers tok say “Oga Ofori-Atta get pending petition for adjustment of status wey go allow pesin to stay for di US legally past di period of validity of dia visa,” di statement by Justice Kusi-Minkah Premo explain.

“Oga Ken Ofori-Atta be law-abiding pesin wey he dey fully cooperate wit ICE to deal wit dis mata,” di statement from his lawyers add.

Now as di Annadale immigration court judge adjourn di case to 27 April, di ex-finance minister go likely remain in detention until di next hearing (for three months).

Sabi pipo explain say if di ex-minister lawyers succeed wit di bond application, den dia client go dey out of di ICE custody wey he go dey attend di substantive immigration hearing.

If dem no succeed or di judge no gree wit dia argument, di detainee go dey inside ICE custody until dia deportation case dey finalized.

Di judge gat di discretion to determine weda pesin be flight risk or di pesin be danger for di community

If pesin dey inside custody during di hearing, di case go fit move fast fast.

For all dis, di detainee get option to appeal if di judge deny dem di bond.

Dem fit appeal to di board of immigration appeals (BIA); but dis process neva dey easy.

a protester with placards during the protest — Wetin we call dis foto, Pressure group Arise Ghana gather for di US embassy for Accra to protest to demand cooperation of US authorities make dem extradite di ex-finance minister to face accountability

Why Ghana dey pursue di ex-finance minister

Attorney general for Ghana Dr Dominic Ayine, file extradition request to US authorities for di ex-finance minister.

Dem wan make US authorities carry di minister and his chief of staff wen e be minister, to Ghana make dem face accountability for di time as minister for seven years from 2017 to 2024.

“At dis point, na di US authorities especially di judicial authorities wey go determine whether sufficient evidence dey wey go demand say make di two accused pipo, dey extradited to Ghana to stand trial,” id attorney general explain.

Di kontris special prosecutor’s office already slap di ex-minister and odas wit 78 counts of corruption and related offenses.

According to di special prosecutor Kissi Agyebeng, di ex-minister and oda accused pipo allegedly conspire to set up “criminal enterprise wey directly and indirectly influence di kontri procurement process to win contracts for di company (SML).”

“Di SML company carry unfair advantage to get transaction audit services, external price verification services, measurement audit for downstream petroleum products and odas form di Ghana govment through di finance ministry and di Ghana revenue authority.”

Kissi Agyebeng di special prosecutor tok say “dem begin di criminal enterprise for 2017 by di ex-finance minister Ken Ofori-Atta, Emmanuel Kofi Nti (ex-GRA commissioner) and Evans Adusei togeda wit di SML company itself.”

Di prosecutor say dem neva ensure value for money for di contracts dem carry give di SML company wey dem cause financial loss of Ghc 1.4bn ($128m).

Dis be some of di reasons why di kontri dey pursue di ex-minister; oda investigative agencies also dey find di minister to help dem investigate oda cases wey im allegedly dey involved.

Ken Ofori-Atta comot Ghana after his govment lose di 2024 elections wey he say he dey go for medical check-up and surgery – since dat time, he neva return.

Many pipo and political watches say di ex-minister dey run away from accountability and trial – but his lawyers say di minister gat nothing to hide.

Di govment thru di Attorney general and odas say dem go work to ensure say US authorities extradite di ex-minister to Ghana to face di law.

But dem also say dem go welcome any move wey go make di minister return to Ghana faster than di extradition – if ICE fit deport am, dem go happy say he go at least return to Ghana and face accountability like anybody else.

Pipo wey dey close to di ex-minister say tins no go be easy sake of di Ken Ofori-Atta apart from di US visa, also get Canada and UK visa, wia he fit go, but time no tell.

For now di ex-minster dey remain for custody for di Caroline Detention centre for Virginia, until sometin happun.

At di time di immigration hearing dey happun, one pressure group for Ghana and oda Ghanaians gada for di US embassy for Accra to protest.

Dem carry placards wey dem wear red shirts and armbands wey dem demand say make di embassy authorities work to bring di ex-finance minister back to di kontri to face trial.