The company plans to use Bitcoins and blockchain technology for settlement and record-keeping of the likes of stocks, mortgages or loans.
Digital Asset’s vision is to keep the speed and digital efficiencies of bitcoin and blockchain while adding a layer of disclosure that would reassure Wall Street banks and regulators. The venue will provide a closed system that only vetted members can use.
Digital Asset’s aim is not to cut out such banks from trading and settlement processes, but to improve their back-office operations, in which settlement cycles can take more than 20 days for some assets.
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