DTCC and Accenture have published a
white paper to elaborate DLT Governance Model (DLT-GM) for operating
and maintaining a DLT platform with eight functional areas.
Accenture (Major global professional
Services) and The Depository Trust & Clearing Corporation (DTCC),
which ventures into market infrastructure for the global financial
services industry, published a white paper recently. The White paper
proposes a DLT governance model for operating and managing DLT
networks with the involved risks during operations.
DLT Model Enclosures:
The Model consists of an 8 pointer
detailed description about the tasks and critical functions involved
in operation and upkeep of the DLT platform.
It mentions governing majors for the
users, which affects connectivity, contractual agreements,
transactional finality, and software alterations while using the
The model proposed in the paper directs
the responsibilities and critical functions in operating and
maintaining a DLT platform. It will include a governing function to
make decisions that will affect connectivity, activity, contractual
settlements, software alterations and transaction finality for a
participant over the network.
According to Robert Palatnick, Chief
Technology Architect, DTCC,
ledger technology, with its built-in consistency, security, and
privacy, holds great promise to transform the digital landscape, but
DLT’s potential will only be realized with the implementation of a
strong and transparent governing model.”
The model elaborates eight functional
areas as below:
A) Data Governance: It includes new
concepts about participant entitlement, confidentiality models, and
also reference data control.
B) Runtime operations: It includes
regular implementation of major run book operations like monitoring,
C) Governance: It provides management
of highest risk, error control factors, and strategic decision-making
functions for the network users along with four areas of
D) Legal and Finance: It addresses many
issues, including vendors and various risk factors like patent risk,
license risk, etc.
E) Infrastructure: It includes core
network management issues and defining of ownership responsibilities
F) Third-Party Management: It covers
supervisory functions assigned to the network.
G) Platform Management: It describes an
ecosystem version of the traditional model of application
development, designed to support the multilayered DLT platform.
H) Participant Lifecycle: It covers all
management aspects of a new onboard member and his interactions in
The model is said to be the critical
component of DTCC’s Trade Information Warehouse (TIW) enterprise to
switch from the current system to DLT leveraging cloud.