Topic: [2016-02-16] Wired: Why Wall Street Is Embracing the Blockchain (Read 265 times)
I think this is definitely bitcoin related. Banks don't like to admit they are starting to surrender to bitcoin, so they talk about the blockchain.
February 16, 2016, 12:23:57 PM
http://www.wired.com/2016/02/wall-street-is-embracing-the-blockchain-its-biggest-threat/
Not really Bitcoin related but definitely worth a read.
Not really Bitcoin related but definitely worth a read.
Quote
It was a significant moment. Using cryptographic algorithms running across a vast network of independent computers, the blockchain can more efficiently, accurately, and openly track the exchange of stocks, bonds, and other financial securities—at least in theory. But in the suddenly enormous and widespread movement towards this powerful idea, the bigger moment may not have arrived until about a month later.
That’s when the Depository Trust & Clearing Corporation called on the entire financial industry to collaborate on blockchain-like technology. “The industry has a once-in-a-generation opportunity to reimagine and modernize its infrastructure to resolve long-standing operational challenges,” [...]
Wall Street, it appears, has learned the lesson that Silicon Valley and its allies have taught industry after industry over the past few decades: embracing your biggest threat is the only way to prevent yourself from being overturned.
That’s when the Depository Trust & Clearing Corporation called on the entire financial industry to collaborate on blockchain-like technology. “The industry has a once-in-a-generation opportunity to reimagine and modernize its infrastructure to resolve long-standing operational challenges,” [...]
Wall Street, it appears, has learned the lesson that Silicon Valley and its allies have taught industry after industry over the past few decades: embracing your biggest threat is the only way to prevent yourself from being overturned.
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