The DTCC, SWIFT and Blockchain's 2017 Tipping Point
We caught a glimpse last week of how blockchain tech will go mainstream. Not, it won't be through killer apps developed by startups, consortia rolling out a consensus solution or breakthroughs in privacy or security. Rather, it appears it will happen when large incumbents roll out blockchains in existing processes. That may not sound exciting, but it is as big a deal (or at least, as big as we're going to get in the short term). But, we need to remember that financial institutions are not generally known for their flamboyance or risk taking. And we need to bear in mind that only the....
Related News
In a survey report published by the World Economic Forum, titled “Deep Shift Technology Tipping Points and Societal Impact,” respondents were polled about tipping points related to technology and when they thought they would occur. According to the survey, Robots and Services are expected to occur in 2021, 3D Printing and Human Health expected in 2023 and Driverless Cars in 2026. These were all ahead of Bitcoin and Blockchain, which the respondents think would only be a tipping point in 2027. The poll further suggests that the tipping point would occur when 10 percent of global domestic....
The Bay Area's leading poverty-fighting organization recently accepted its first Bitcoin donation. Bart and Brad Stephens of Stephens Investment Management donated 20 bitcoins to Tipping Point Community on February 6."Bitcoin is a disruptive innovation in the field of financial technology," Bart Stephens said. "Tipping Point is an innovator and a disruptive force in philanthropy. We have supported Tipping Point since its inception and we are excited by this pioneering gift. Both Tipping Point and Bitcoin share a bright future, bringing benefits to consumers and families in need....
DTCC president and CEO Mike Bodson indicated today that the US clearing and settlement giant plans to embark on additional distributed ledger technology tests. The comments came as part of Bodson’s opening remarks at the 2016 Blockchain Symposium, a one-day event held by the DTCC in New York City today. The event features participants from financial institutions such as Barclays, BlackRock, Goldman Sachs and the SWIFT Institute. Word that DTCC is planning additional work with blockchain tech followed the company's announcement of a partnership with industry startup Digital Asset Holdings....
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....
The World Economic Forum (WEF) has identified blockchain technology as one of its six mega-trends in a new report broadly aimed at outlining the expected transition to a more digital and connected world. Compiled by the WEF's Global Agenda Council on the Future of Software and Society, the report included the results of a survey of more than 800 information and communications executives and experts. Perhaps most notable among the poll's findings is that those surveyed believe the "tipping point" for government use of the blockchain will occur by 2023. For purposes of the survey, blockchain....