Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity

The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.

Credit: Andrey Armyagov/Olga Salt/Alamy/WatersTechnology montage

Avoid popularity if you would have peace. These words are attributed to Abraham Lincoln, but they could easily have been spoken by an executive at a tech startup fending off hype and hyperbole around the Latest Great Tech Discovery.

In the mid-2010s, distributed ledger technology, or DLT, was just that: the toast of venture capitalists and the talk of conferences. For many, the excitement surrounding DLT compared with some of the most transformative developments in modern capital markets

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