DTCC Report Cautions Against Building Blockchain Hype
Trade settlement giant DTCC has released a new report that recommends industry stakeholders experiment with blockchain implementations while cautioning against the growing hype surrounding the technology. DTCC released its report more than a month after the firm announced its participation in an effort led by the Linux Foundation to develop an open-source blockchain initiative called the Open Ledger Project. The report, entitled "Embracing Disruption: Tapping the Potential of Distributed Ledgers to Improve the Post-Trade Landscape", offers a tempered endorsement of the technology....
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Post-trade financial services giant DTCC has announced it is to host a blockchain event next month in New York City. Called the Blockchain Symposium, the day-long event will explore the business applications of blockchain technology for financial market infrastructures and the industry. The firm told CoinDesk in an email: “The aim of the program is to cut through the hype, discuss collaboration and use cases, and imagine what innovations the future may bring.” The 29th March event will feature Blythe Masters, CEO of blockchain startup Digital Asset Holdings, and J Christopher Giancarlo,....
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....
Tokenized platforms such as Ethereum have an incentive to hype the technology to increase the value of the token, says a new report by Tieron, a company that claims to be the first to complete a Blockchain healthcare project in 2015 having been the first partner in Philips Blockchain Lab. This is a part of the hype overload cited among the pitfalls presented by the Blockchain technology which Tierion’s Blockchain Healthcare 2016 Reports – Promise & Pitfalls says are more than its promises at this early stage. It adds that the hype around Blockchain has led to misinformation and....
Digital currency startup Ripple Labs has appointed Donald Donahue, former CEO of the Depository Trust & Clearing Corporation (DTCC) as an advisor to the company. DTCC is the main clearing house for US securities and derivatives, processing more than $1.6 quadrillion in transactions per year. In his role as COO and then CEO, Donahue is thought to have led the DTCC's efforts in stabilising the financial system following the 2007-08 market crash. Donahue said in a company statement:
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