Wall Street, Meet Block Chain


Despite being indirectly involved in block chain technologies startups, I've had long conversations with my [Anthemis](http://www.anthemis.com) colleagues about why it would be a complete revolution (their opinion) instead of just another way of doing financial technologies that would add itself to the mix - NOT replace everything (my opinion). I finally found an article that clearly summarizes the advantages of the bitcoin-inspired technological stack: _The block chain offers the following unique benefits for asset transfer:_ _- Assets move directly between entities — transfer and settlement are one-and-the-same — eliminating counterparty risk_ _- Assets move instantly, and settlement time is ~10 minutes (settlement can also be instant if the parties trust the other won’t “double spend”)_ _- The transfer mechanism is public infrastructure and is always improving — everyone has a shared incentive to make it better, similar to Internet protocols like email and http_ _- Assets and end-user data are privately controlled, and strong security for assets can be achieved by using multiple signing keys across several parties: _- Policy rules about the movement of assets can be enforced programmatically — whether those are “terms and conditions” or regulatory requirements_ _- Assets are fungible and play nice together — e.g., you can use reward points to buy mobile minutes_ _- A single transaction can include multiple entities and assets, on both sides of the transaction — e.g., you could execute a merger of two companies in a single transaction, with the inputs to the transaction being all stockholders across all share classes for both companies, and the outputs being all the newco shares going to all the new stockholders (again, no escrow service needed)_ _- Every transaction is added to an immutable record which, while anonymous, can be used to construct a perfect audit trail of an asset’s movement when combined with the private data held by the entities using the system — this defends against fraud, and also gives issuers transparency into asset movements_ _- It’s easy to integrate new parties_ _- Like the Internet itself, it’s a global system_ [Full article](https://medium.com/@adamludwin/wall-street-meet-block-chain-b2747909eb90)

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