The sheer fact that the European Central Bank (ECB) is examining the use of the distributed ledger technology (DLT) for the Eurosystem’s market infrastructure has put blockchain firmly on the financial map. However, more work needs to be done to see whether this shared database — originally developed for cryptocurrency Bitcoin and used to secure… Read More >>
SWIFT Gets on the Blockchain Proof-of-Concept Bus
Financial messaging and services cooperative SWIFT is providing more details about its R&D efforts, including proof of concept efforts, for blockchain/distributed ledger technology (DLT) in a white paper it just completed with global consultancy Accenture The two have combined efforts for a position paper, “SWIFT on Distributed Ledger Technologies: Delivering an Industry Standard Platform through… Read More >>
Blockchain’s Great Promise Faces Great Hurdles
The distributed ledger, or blockchain, as today’s hot financial services technology is also known, may lead to an Internet of Value. But first, important issues have to be resolved. So says Lael Brainard, one of the Federal Reserve’s seven governors. In a recent speech entitled “The Use of Distributed Ledger Technologies in Payment, Clearing, and… Read More >>
ESMA Pries Open Derivatives Clearing
Although not all clearinghouses will be happy, the European Securities Market Authority Association (ESMA) decision to allow more choice in trading and clearing was welcomed by the London Stock Exchange Group (LSEG) and Nasdaq Stock Market, which have long championed greater competition in derivatives clearing. The so-called open access rule, set out under Markets in… Read More >>
More Global Banks Test or Explore Blockchain
The bandwagon for blockchain and distributed ledger technology (DLT) is getting crowded as four major global banks have just completed a battery of tests in which the cutting-edge technology played a key role in credit default swap (CDS) processing. At the same time, key players in Japan led by Nomura Research Institute (NRI) officials are… Read More >>
Red Hat Launches Blockchain Overture
Open source software and Linux solutions vendor Red Hat has launched an initiative targeting financial technology startups and independent software vendors (ISVs) serving financial services firms that are developing blockchain/distributed ledged technology (DLT) applications and technologies. Red Hat’s OpenShift Blockchain Initiative is intended to help the financial services industry as it develops hosted blockchain solutions… Read More >>
Regulators Could Halt Blockchain’s Progress
CFTC Commissioner J. Christopher Giancarlo is calling on U.S. and European regulators and policymakers to take a “do no harm approach” toward the oversight of emerging distributed ledger technology (DLT), popularized by the blockchain underpinnings for cryptocurrency Bitcoin. Otherwise, DLT’s growth is at “risk of being stymied by disparate and uncertain regulation,” says Giancarlo, who… Read More >>
Q&A: Could Blockchain Really Be a Revolution?
(The securities industry is jumping on the distributed ledger/blockchain technology bandwagon at a record pace and with widespread support. The underlying backbone of cryptocurrency Bitcoin-based transactions is having a life of its own among major Wall Street firms and industry organizations. FTF News got a few minutes with industry analyst Dr. Anshuman Jaswal, who is… Read More >>
Linux Foundation Bolsters Hyperledger Project
Industry Players and Vendors Back Hyperledger Project The Hyperledger Project, an open source blockchain initiative from the nonprofit Linux Foundation, founded in 2000, reports the following new members: Chris Ferris, chief technology officer (CTO) of open technology at IBM, becomes chair of the project’s technical steering committee (TSC); Blythe Masters, CEO of Digital Asset… Read More >>
DTCC & Digital Asset Launch Distributed Ledger Project for Repos
The DTCC, the industry post-trade utility and related services provider, and fintech startup Digital Asset Holdings are developing a solution based on distributed ledger technology, intended to help firms better manage the clearing and settlement of U.S. Treasury, agency, and agency mortgage-backed repurchase agreement (repo) transactions. The effort should yield a central counterparty process that… Read More >>
