This is really huge news for blockchain tech. DTCC is the clearinghouse for securities in the US, they facilitate ownership transfer for the entire stock market

This is really huge news for blockchain tech. DTCC is the clearinghouse for securities in the US, they facilitate ownership transfer for the entire stock market and most of the derivatives market. DTCC processes so much wealth it's beyond silly, last year they processed something like $1.6 quadrillion worth. it's Anyway, DTCC published a whitepaper [1] where they explained some of the benefits of a blockchain based system. One enormous benefit (that the WSJ authors missed) is that with a distributed blockchain-based system you can reduce the current 3-business-day settlement period to a 0-business-day settlement period (hours). A lower settlement time would make it easier to evaluate positions and reconcile them. There'd need to be regulatory change for this to happen, but if the current trial goes well and DTCC can show it works, the system can be changed for the better. We live in very exciting times :) BTW, if the whitepaper is a bit too long to read, there's a great summary of the DTCC blockchain situation here https://medium.com/@Magnr/settlement-authority-dtcc-wants-to-embrace-blockchain-technology-ad8253a49422 https://medium.com/@Magnr/settlement-authority-dtcc-wants-to... . Found it through this HN thread https://news.ycombinator.com/item?id=11011805 https://news.ycombinator.com/item?id=11011805 Link to the whitepaper: https://www.finextra.com/finextra-downloads/newsdocs/embracing%20disruption%20white%20paper_final_jan-16.pdf https://www.finextra.com/finextra-downloads/newsdocs/embraci...