Definition ∞ Legacy systems refer to outdated computing hardware, software, or infrastructure that remains in use within organizations, particularly in traditional finance. These systems often present challenges related to interoperability, maintenance, and security vulnerabilities. They typically lack the flexibility and efficiency of modern digital asset technologies. The continued reliance on them can hinder innovation.
Context ∞ The state of legacy systems in traditional finance is a major point of friction for integrating new digital asset technologies. Key discussions often address the high costs and operational risks associated with maintaining these older infrastructures. A critical future development involves the gradual migration of financial operations from these systems to more agile, blockchain-compatible platforms to enhance efficiency and security.
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