The Depository Trust & Clearing Corporation (DTCC) held a private blockchain event in New York last week, a move that coincided with the announcement it would embark on its first test of the technology with partner Digital Asset Holdings.
The all-day affair saw a number of new names debut at a blockchain industry conference, with marquee representatives from Blackrock, Goldman Sachs, the SWIFT Institute and the White House joining a cast of more experienced blockchain innovators from Chain , R3 and tØ .
Overall, while the event showcased the growing enthusiasm for blockchain technology among large financial incumbents, most conversations sought to temper this enthusiasm by underscoring the need for checks and balances as part of a transition to blockchain-based systems.
Though discussion of the technology and its impact was expansive, it was perhaps notable for a lack of discussion of specific technologies.
Conversations about blockchain protocols offered by Ethereum, Bitcoin, Ripple or Hyperledger were notably scarce, with the second half of the day seeing a more inclusive dialogue that touched on digital currencies and the bitcoin blockchain.
CoinDesk recaps the day’s major moments with the 12 most notable quotes: 1. “When the pressures of the financial crisis repeat [themselves], which at some point they will, a processing structure that operates on automatic would drive the financial system off a cliff. Preserving central command has to be part of an implementation scheme.”
With these words of warning, Donald Donahue, president and CEO of Miranda Partners, opened the day’s event with a focus on the "big questions" about the future of blockchain. In prepared remarks, Donahue cautioned that just because the blockchain could enable an automated economy, this doesn’t mean that the financial system should or must function this way.
His remarks showcased the long time horizons on which financial incumbents are beginning to consider the […]
