Bitcoin Technology In Wall Street Clearinghouse

[aayush-admin]

In a recent announcement, a company that serves as the back end for much Wall Street trading, known as the Depository Trust and Clearing Corporation, or D.T.C.C. stated that they would replace one of its central databases, used by the largest banks in the world, with new software inspired by Bitcoin.

The best part is the fact that IBM will be leading the project for the D.T.C.C. and their aim is to make it fully functioning by early next year.

Exciting isn't it?

[Alexander Bukarev]

Exciting it is.... But, maybe too early to talk about it, as still looks like long time in taking.

[aayush-admin]

Exciting it is.... But, maybe too early to talk about it, as still looks like long time in taking.

Yup....

[Francis Fabrizi]

Good to know this. But I fail to understand how this development would enhance the further usage of Bitcoin itself as they are using the technology inspired from Bitcoin and not going to replace existing currencies with Bitcoin. Exciting development nonetheless as this might spur people/organizations to look and explore Bitcoin itself! Wall Street is all about Big Money and adopting technology suitable for Bitcoin is really a great enhancement. Hope this augurs well for Bitcoins and other crypto-currencies!

[Monika Jurgenfeldt]

Hmm seems an exciting project with high potential for further usage! But I am with user Francis Fabrizi on how adopting this technology would help Bitcoins. May be there might be an indirect connect but the project is about using the Bitcoin technology and not Bitcoin itself!

So if the latter was true, i.e., if Bitcoins are to be used instead of normal currencies then BTC usage would really explode to the top side as Wall Street is big place for currencies!

[Andrey Tolstov]

Wow! All the big names in one place! DTCC, IBM, Wall Street! Guess this is going to be very big & important project involving BlockChain, the same technology that powers Bitcoin and some crypto-currencies. So this is financial project and its effect on Bitcoin might be known later as it is not in direct relation as such! BTW, good to see BlockChain in action across various technologies, businesses and companies which clearly bodes well for this technology in future!

[Michael Greenberg]

Should impact Bitcoin and some other crypto-currencies in a positive way. BlockChain has become very versatile and being used in many verticals leading to its increased usage & popularity.

With big names adopting BlockChain one can but feel only good; but it should be rubbing positively on Bitcoin else one can’t leverage the full impact. It would also be better if the so called big names adopt Bitcoin itself for their payments, at least as one of the option.

[Vikas Kiles]

The title is quite misleading. Instead of saying “BlockChain” it is given as “Bitcoin Technology”. But guess such things are done to attract the eyeballs and make topic interesting! BlockChain has been increasing used in many sectors apart from financial field, so this is not surprising. Both BlockChain and Bitcoin are here to stay and one must appreciate their resilience and rapid rise. Future is going to be quite exciting as physical cash might become extinct and everything would be only digital with Bitcoin also playing a big role!

[Chameera Silva]

HeHe, I concur with you Vikas Kiles. Well, technologies have been changing and changing for the better. So now every money based transaction is done by click of mouse/finger tips and there is no human interface as such! Such a thing was inconceivable few years ago and thought to be too futuristic!

Bitcoin might operate via its own mechanism and this topic won’t have any impact on that! Bitcoin has been smashing all records and very soon might even replace official currencies of many countries!

[liron adania]

This is exciting enough but how it would actually impact Bitcoin remains to be seen. May be the effect has already been seen by way of increased valuation of Bitcoin. It is also great that BlockChain is being used by big names of the industry in financial and other fields. So this should augur well for Bitcoin as a positive side effect but as usual people need to be cautious and not become too excited.