Using Blockchain To Settle Trades Could Alter Litigation

Law360 (August 6, 2020, 5:49 PM EDT) -- Crypto startup company Paxos Trust LLC is piloting a blockchain-based approach for settling equity trades with the tacit endorsement of the U.S. Securities and Exchange Commission.[1] If successful, Paxos' approach has the potential to unseat the Depository Trust Clearing Corp. and permanently change how trade settlement works.

Not to be outdone, the DTCC announced an initiative at the end of May called Project Ion to explore the same technology.[2] Benefits of a blockchain approach — also called distributed ledger technology, or DLT — compared to the traditional centralized approach may include increased settlement speed, reduced risk, faster access to funds and...

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