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Posted On: 11/20/2017 10:58:21 AM
Post# of 186
oh the ironies .. re: some of those noted .. 
Blockchain passes Wall Street test
Nov. 20, 2017 7:50 AM ET|By: Stephen Alpher, SA News Editor
"We know the thing works now," says Axoni CEO Greg Schvey, whose firm just managed a six-month test of blockchain in the $2.8T equity swaps market. Among participating banks were JPMorgan (NYSE:JPM), Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), Credit Suisse (NYSE:CS), and Canada Pension Plan Investment Board.
The program kept track of the swaps contracts, and recorded items like amendments or termination of deals, splits, and dividends. The success rate was 100%, says Axoni.
"Fewer valuation disputes, less reconciliation and real-time access to data would benefit all of the industry,” says Citigroup's global head of prime finance, commenting on the benefits of blockchain. Accenture estimates investment banks could save $8B.
http://www.seekingalpha.com/news/3313436
Blockchain passes Wall Street test
Nov. 20, 2017 7:50 AM ET|By: Stephen Alpher, SA News Editor
"We know the thing works now," says Axoni CEO Greg Schvey, whose firm just managed a six-month test of blockchain in the $2.8T equity swaps market. Among participating banks were JPMorgan (NYSE:JPM), Goldman Sachs (NYSE:GS), Citigroup (NYSE:C), Credit Suisse (NYSE:CS), and Canada Pension Plan Investment Board.
The program kept track of the swaps contracts, and recorded items like amendments or termination of deals, splits, and dividends. The success rate was 100%, says Axoni.
"Fewer valuation disputes, less reconciliation and real-time access to data would benefit all of the industry,” says Citigroup's global head of prime finance, commenting on the benefits of blockchain. Accenture estimates investment banks could save $8B.
http://www.seekingalpha.com/news/3313436
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