DTCC CEO Addresses Blockchain Disruption in Annual Shareholder Letter
In a letter to shareholders, the chief executive of major US clearinghouse DTCC wrote that the company seeks to be "at the forefront" of the development of blockchain and distributed ledger applications in the finance space. President and CEO Michael Bodson wrote in the letter that the company – which recently held a symposium on the technology and is working with industry startup Digital Asset Holdings on a post-trade blockchain trial – wants to play an active role in the exploration and adoption of the technology. Under a subsection entitled "Embracing Disruption",....
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The company that last year processed $1.6 quadrillion in securities has a lot to lose if it is cut out of the financial food chain. As a result, the Depository Trade & Clearing Corporation (DTCC) has been working diligently for the past several months to position itself at the center of a wide-range of experiments other companies are conducting with blockchain technology. Instead of fighting against the distributed ledger technology popularized by bitcoin, the DTCC has embraced the new tool and is doing what it can to help define the future architecture of the industry, even if that....
The shareholder letter penned by Seetee’s Kjell Inge Røkke is the most bullish missive on bitcoin of 2021 so far.
Robert Palatnick has no delusions about the changing role of The DTCC, a centralized transaction processing firm that has recently been in the crosshairs of blockchain disruptors. Yet, the chief technology architect at the post-trade services behemoth (it processes $1.5qn in annual transactions) tells CoinDesk the DTCC's strengths in risk management are no less important in a blockchain world. What will change, he now believes, is the technology the company employs. While some startups using distributed ledger technology are working to undermine centralized transactions processors, others....
Wall Street’s clearing and settlement house, the Depository Trust & Clearing Corporation (DTCC) has, in recent times, increasingly made rapid strides in blockchain research and investment into the innovation. Blockchain technology is fast being touted as the oncoming evolutionary leap to boost the financial industry. Stock exchanges like the Australian Securities Exchange (ASX) have gone beyond merely researching the technology, by running trials and a prolonged testing period which sees Australia’s biggest stock exchange use blockchain-based solutions for post-trade events. Wall....
The Wall Street companies may soon start using blockchain technology based services provided by DTCC. Blockchain technology in banking and fintech is not a new thing. The sector has been working on implementing the distributed ledger technology into its operations for more than a year now. As they make progress, the Wall Street clearinghouse has decided to hop on the bandwagon by adopting blockchain technology. According to reports, Depository Trust and Clearing Corporation – DTCC has announced its intentions to start using Blockchain technology on a trial basis. DTCC is a leading firm....