Private Permissioned Blockchain
Two Accenture representatives offer their solution to the challenge many in finance are pondering with regards to usage of blockchain
“To be used by financial institutions, including capital markets firms and insurers, blockchains must supplant the costly methods introduced by bitcoin with a mechanism that guarantees security, privacy and speed without paying for anonymous consensus.”
In reality, this should come as no surprise. Finance loves dedicated lease lines to connect to liquidity provides etc. Welcome to the world of gated communities.
With the blockchain distributed ledger technology solution, its possible that in the future, when you trade with a bank e.g UBS, the source of truth with regards to the buy/sell of an asset will be the UBS permissioned blockchain, allow you to see your trades with UBS as appropriate – entitlements.
Which leads to another classic finance problem, how can I easily connect to all these private permissioned blockchains? In many ways similar to the smartTrade and MarketFactory value add – an API to connect to liquidity. Will the equivalent be Vennd?