| | NOVEMBER 11th, 2016
"Success is not final, failure is not fatal: it is the courage to continue that counts." – Winston Churchill
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Disruption brings some surprising partnerships.
Rather than wait for new securities settlement technologies to eat away at its market, the centralized transaction processing firm DTCC has been working with startups on blockchain projects of its own.
The scope is broad: the organization processes $15qn (yes, that’s with a “q”) in transactions a year. In addition to its size, DTCC's long experience with regulation and risk management gives it an edge that startups don’t have.
The DTCC doesn’t want to go down this road alone: aspiring technology partners must be willing to participate in an open-source collaboration. Could this be the essential ingredient for an industry-wide shift? (Read the full story.)
Wait, there's more:
· Welcome. Former director general of technology and transformation for the UK Foreign Office has joined the board of Setl, which is developing blockchain technology for banks. His work in national and cybersecurity should come in handy. Read more.
· Blockchain CPU. Today Golem launches a token sale to create an alternative cloud computing network, based on a marketplace for unused computing power. Here’s how it works.
· High expectations. A Deutsche Bank report on the factors driving the strategic thinking of capital markets participants reveals that 75% expect widespread distributed ledger use within three to six years. Almost 90% expect an impact on securities services. Read more.
· Sidechains soon? Two new proposals to add sidechain functionality to the bitcoin code are being worked on. Their aim is to expand bitcoin’s capabilities. The snag: getting developer consensus on which (if any) to incorporate will not be easy. Read more.
BTC: $717.91 +0.7%
ETH: $10.47 -0.8% at 10:00am EST more details
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