If minimum viable products have so far proved elusive for companies building blockchain solutions for capital markets, Consensus 2018 marked a notable change in the narrative.
DA, a blockchain startup founded by former JP Morgan executive Blythe Masters, has itself been making headway with its overhaul of the Australian Securities Exchange's Clearing House Electronic Sub-register System.
DA isn't the only company that's actually finally getting somewhere with DLT for financial market rails.
The re-platforming of the DTCC's trade information warehouse is one of the highest profile financial infrastructure blockchain projects bitten off by anyone.
He went on to explain that changing to a blockchain isn't a "Magical flip of a switch." It involves a migration of all the data that is currently in the legacy system into the blockchain before anything can go live.
The enormity of such a project may not be obvious to those unfamiliar with the creaky plumbing of the capital markets.
In Europe, a blockchain project involving the Luxembourg Stock Exchange and a growing contingent of buy-side firms is now scheduled to go live in January 2019.
Professional services firm KPMG picked the clearing and settlement of exchange-traded funds on the Luxembourg exchange as a use case for blockchain - which, it turns out, is a very big deal.
Combining this front-end revamp with blockchains in the back office will mean a roughly 60% reduction in costs for the exchange, said Maguire.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Capital Markets Blockchains Are Finally Getting Go-Live Dates
Published on May 17, 2018
by Coindesk | Published on Coinage
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