Blockchain: FXSwaps Valuation
The OpenGamma and Clearmatics demo blockchain PoC appears to be a step in the right direction, both in technology terms, and in relevant to business terms.
the key innovation is the use of a distributed virtual machine to compute business logic and financial models. Robert Sams, Founder and CEO of Clearmatics explains:
“Distributed ledger technology emphasises shared and replicated data storage, but some very specific and rigorous business logic must govern how those ledgers are amended. If the automation of that logic isn’t also distributed, then DLT will actually encourage more centralisation in post-trade intermediation and do little to increase transparency.”
I assume as it was using Ethereum, it was using Smart Contracts as part of the PoC?