Bitcoin Newsroom Articles
The Depository Trust & Clearing Corporation (DTCC) will use blockchain technology as the core infrastructure to rebuild platform that manages and processes $11 trillion worth of credit default swaps (CDS).
Announced today, the post-
The TIW s responsible for record keeping, automating lifecycle events and managing
payments of over $11 trillion of cleared and bilateral credit derivatives. Credit-
In a letter to shareholders in mid-
We have a once-
IBM will lead the initiative toward the switchover to blockchain technology with
program management, expertise and integration of bitcoin’s underlying innovation
while providing the solution-
Axoni CEO Greg Schvey called the deployment of blockchain technology at such a scale as “a watershed moment for the industry.”
Bridget Van Kralingen, senior vice president at IBM Industry Platforms added:
As one of the largest and most groundbreaking distributed ledger projects to date in the financial services industry, DTCC together with its member banks are reimagining the credit derivatives process.
The development of the new platform will begin this month, built on Axoni’s distributed ledger software protocol ‘AxCore’. The finished project will be submitted to the open source Hyperledger project when the solution goes live, expected to occur in early 2081.