Definition ∞ Financial system migration describes the process of transitioning traditional financial operations, assets, and services onto new technological infrastructures, particularly blockchain networks. This movement involves digitizing conventional instruments, automating processes through smart contracts, and decentralizing various financial functions. The aim is to enhance efficiency, reduce costs, and improve transparency within global finance. It represents a fundamental shift in how value is stored, transferred, and managed.
Context ∞ The state of financial system migration is a major trend, driven by the potential benefits of distributed ledger technology. A key discussion involves overcoming the technical complexities and regulatory hurdles associated with integrating legacy systems with blockchain. Critical future developments include the increasing adoption of tokenized real-world assets and the establishment of interoperable blockchain networks, facilitating a more seamless global financial architecture.
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