Safety in numbers: why DTCC wants the industry to develop standards for blockchain-based projects.
CEO Dominic Stevens highlights there’s more “beyond what the media will report on DLT”.
But in limited situations, as shown by Lombard Odier’s purchase of a securitized insurance contract originated over a private blockchain.
Major blockchain initiatives prove the technology offers privacy and scalability, but banks waiting to see which models prevail.
DTCC, which processes hundreds of millions of trades a day, is expanding its projects related to blockchain, as it finds new uses for distributed ledger technology.
But as use cases proliferate for distributed ledgers, so do vendors, coding languages, and the number of emerging intermediaries.
Blockchain is a database that is shared, encrypted, distributed and based on consensus about what is true.