> It's not the storage which is the issue, it's the verification. If you are (made up example) JP Morgan, and you've sold $500m in bonds to a mutual fund, both

> It's not the storage which is the issue, it's the verification. If you are (made up example) JP Morgan, and you've sold $500m in bonds to a mutual fund, both parties know for sure that everything went smoothly if their copy of the blockchain tells them that it went ahead (just like you know that your Bitcoin wallet contains x bitcoin, and if you send that balance to an address, that transaction is absolutely confirmed beyond doubt). The transaction and settlement happen at the same time, instead of a 3 day process which is the situation today (for stocks). They don't need an expensive, external authority to tell them that everything went smoothly, they can confirm it themselves much faster and cost effectively. That isn't what clearinghouses do in a legal/functional sense for participants.