TagDTCC

Blockchain is a 'Systemic Risk' for Financial Industry: DTCC Exec.

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The Depository Trust & Clearing Corporation or DTCC issues a report every year on the stability of the global financial system and has done so every year since 2013. It describes this report in these terms: "[T]he DTCC Systemic Risk Barometer Survey serves as an annual pulse check to monitor existing and emerging risks that may impact the safety, resiliency and stability of the global...

‘Rehypothecation’: More about the Wall Street Practice that Could Ruin Bitcoin

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Note: This is part 4 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews with Caitlin Long and parts 3 and 4 ask the question, "How did we get to a place that where laws look like this?" The Problem with Clearing Beyond costs to the issuers themselves, this system has resulted in a huge rise in...

'Rehypothecation': Inside the Wall Street Practice that Could Ruin Bitcoin

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Note: This is part 3 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews with Caitlin Long and parts 3 and 4 ask the question, "How did we get to a place that where laws look like this?" In order to understand why Wall Street veteran and cryptocurrency advocate Caitlin Long thinks that...

Goldman Sachs, Wall Street Banks Sink $32 Million into Enterprise Blockchain Startup

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We may, as Lightning Labs CEO Elizabeth Stark said earlier this year, be entering a “bitcoin not blockchain” world, but the global banking cabal isn’t ready to capitulate on its support for enterprise blockchain products just yet. Indeed, Axoni, an enterprise blockchain startup founded in 2013, has just concluded a $32 million Series B funding round headlined by a group of Wall Street’s largest...

Wall Street’s Book-Keeper Will Use Blockchain Tech for $11 Trillion Platform

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Note: The blockchain solution's launch date is corrected to 2021, against the earlier reported 2081. The Depository Trust & Clearing Corporation (DTCC) will use blockchain technology as the core infrastructure to rebuild platform that manages and processes $11 trillion worth of credit default swaps (CDS). Announced today, the post-trade services platform for much of the globe’s financial...

DTCC CEO: Blockchain a Once-In-A-Generation Opportunity

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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...

Wall Street Firms Complete Successful Blockchain Test

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Seven Wall Street firms including four global banks have announced the successful testing of blockchain technology used for credit default swaps’ trading process in post-trade lifecycle events, a market wherein outstanding contracts amount to in the trillions of dollars. In a new initiative that further underlines the financial industry’s determined foray into embracing blockchain technology...

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