Potentially more significant than Bitcoin’s role as a form of money, we are also big believers in the power of the blockchain architecture for a broad range of applications that leverage the open, distributed public ledger.
Tim Berners-Lee’s seminal paper on the web in 1989 contained a bold vision for a radically, egalitarian and decentralised platform which has now become the world’s repository for information
The financial system will need to be a platform that federates existing players (such as banks) and new players (such as telecommunication companies… )
1) bitcoin-inspired distributed systems
2) open APIs (application programming interface) as a new way to consumer business services on the internet
3) crowd-sourced identity schemes
4) open source hardware and applications
How can the traditional industry players prepare for such changes?
Blockchain Enabled Digital Ledger Technology
However, the underlying technology of the blockchain is different altogether.
Open Trade Docs (formerly Debune) and Otonomos are two interesting use cases. Otonomos in particular helps manage all your commercial corporate actions in the blockchain. NASDAQ is already working with a blockchain startup to allow the trading of shares of privately-owned firms.
Digital Currency / #Bitcoin Related Technology Could Accelerate Trading & Transaction Settlement on #Wall Street
They added: “It is not bitcoin itself that has the potential for changing the institutional capital markets. The #blockchain, the technology that allows bitcoin to exist and be transferred safely without an intermediary, presents a much bigger opportunity for financial services firms.”
“Can Bitcoin and the blockchain be separated