Golden Copy: Wave of Distributed Ledger Technology
Early push to mine blockchain's foundation for data management gives way to realities
Last month, comments made by industry sources gave the impression that fragmentation inherent in the distributed ledger technology spawned by blockchain could make it difficult to apply the technology to reference data management.
The Depository Trust & Clearing Corporation (DTCC), as the de-facto industry utility for collecting records of transactions and their settlements, is the body that ought to or may have to make use of distributed ledger technology to improve on its recordkeeping and the accuracy of its data.
In March, Robert Palatnick, managing director and chief technology architect at DTCC, indicated that applying distributed ledger technology could help address reference data reconciliation, as well as mapping against counterparty reference data, and clearance and settlement utilities. He said he saw the possibility of providing value in this manner.
Palatnick gave an update on DTCC's distributed ledger technology stance this past week to sister site WatersTechnology. While he reiterated strong support for the idea that value can be derived from the technology for data management, Palatnick revealed that DTCC is cautiously examining a few different distributed ledger technology efforts, and waiting to see which one will prove steadiest or most fruitful.
Palatnick also warned against speculation about the potential for distributed ledger technology and said DTCC is still evaluating which applications of the technology for data operations will actually make sense.
This stance is quite in line with what Jeff Zoller, chair of financial industry operations group ISITC, also was saying back in March. So while there may have been a wave of enthusiasm for applying blockchain's underlying technology to the financial industry's data operations at the start of this year, that wave appears to have crested. The industry is starting to see the ocean of work stretching out to the horizon that must be traversed before distributed ledger technology can be integrated into its functions.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
Deep in the heart of Texas, market data vets sweat the talent gap
The secrets to unlocking all of market data’s questions and the antidote for all its ills were discussed in Texas last week. Unfortunately, we promised not to tell—not all of them, anyway.
Fidelity’s quantum exploration unites theory and proof
The asset manager and Amazon have teamed to put a quantum twist on machine learning.
Interop after acquisitions remains daunting for buyers
Executives from a variety of vendors speaking at WFIC explained why desktop interoperability is important and why progress has been slow.
GenAI could connect ‘constellation’ of vital information technologies
At WFIC, Six Group’s Marion Leslie highlighted the opportunities and risks that the technology holds.
TRG Screen cuts 20 jobs following review and restructure
The review follows an eight-year period of acquisitions and buy-in from a new private equity owner last year.
Why don’t you write a book? Several notable data professionals are doing just that
The IMD Wrap: Max talks to some data architects-turned-authors who are literally sharing volumes of knowledge.
American Bankers Assoc. asks SEC: Do you know what you’re doing?
The industry group disagrees severely with regulators’ interpretation of the Financial Data Transparency Act, hinting at possible legal action in a recently published comment letter.
South Africa’s equity markets court HFTs with tech upgrades
Competition for flow has driven innovation in connectivity, risk, and data provision.