What an odd article. It seems slightly perverse to point out that an existing settlement system has blown 2bn on a platform that processes <500k transactions pe

What an odd article. It seems slightly perverse to point out that an existing settlement system has blown 2bn on a platform that processes <500k transactions per day for < 2000 participants. That might be true but it no way follows that it'll be successful solely because it is so cost ineffective. The article also misses a key point about the finance industry. You "only" need to convince a dozen organisations that what you're doing is valuable and they'll effectively force the rest to follow. It's also quite incestuous, get a couple of big players interested and the rest will come looking pretty quickly. Not only that, once they start relying on a technology they are very good at ensuring that it gets backed well. Now, I'm not suggesting that that's easy and I'm sure a lot of companies will try and fail. But it most definitely does not need billions to get started.