Welcome to Bloomberg Crypto, our twice-weekly look at Bitcoin, blockchain and more. If someone forwarded this to you, sign up here. In today’s edition, Anna Irrera checks in on the blockchain journey of Australia’s main securities exchange:
TradeFi’s epic blockchain voyage
When blockchain made its entrance on Wall Street circa 2015, crypto’s underlying technology was touted by proponents as the cure for all market structure evils. In the not-too-distant future blockchain would make securities settlement near-instant, cheaper and almost infallible. Intermediaries and their pesky fees would become obsolete and investment banks were told they could save up to $12 billion a year in IT infrastructure costs.
Sold on the dream, banks and exchanges ramped up strategic investments in the space, signed up for a flurry of “proof of concepts,” tests and consortia.
Most enterprise blockchain projects were announced with great fanfare. But no project was as high profile or ambitious as plans by...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...