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Exactly, the securities industry doesn't even need a decentralized blockchain, Quorum with its hot-swappable consensus models and EVM-compatibility for all exis

Exactly, the securities industry doesn't even need a decentralized blockchain, Quorum with its hot-swappable consensus models and EVM-compatibility for all existing smart contracts would be good enough! All the last week has really showed us is that the market is not prepared for modern realities. We could avoid 100% of this finger pointing by simply upgrading the technology. Instead we have Congress using precious time on our dime hauling in the wrong people (as usual) just because they are the face, while DTCC is laughing at them and won’t even issue a statement that could help clear things up.

SilasX 6y ago
>Exactly, the securities industry doesn't even need a decentralized blockchain, Quorum with its hot-swappable consensus models and EVM-compatibility for all existing smart contracts would be good enough! Right, but I still think the comparison is good because blockchain should establish the minimum performance, and the financial industry, which can allow centralization, should be able to do much better. In terms of securities, it doesn't. Bitcoin is settled within an hour (6 confirmations), without the requirement to put up collateral that scales O(n) with the value of the transaction (and volatility).
- vmception 6y ago
  yeah, we're agreeing, I was mainly trying to avoid people derailing about proof of work throughput and bandwidth. a much more scalable private distributed ledger with kind of shitty chain security would be good enough to satisfy this industry. would be faster than now, and faster than bitcoin, and brokers wouldn't have to put up collateral for multiple business days.