HSBC Moves $20 Billion From Paper To Blockchain In One Of The Biggest Financial Deployments

14 comments

  1. n0mn0m88

    |Author

    I think it’s incredibly powerful for a big name to associate words with brand, it’s textbook marketing and if Bitcoin and the other currencies don’t market to the masses, who will? Big banks and infrastructure that has been doing so since day one. Eventually someone will get the right mix of tech and marketing, and blend it in to a smoothie that normal Joe’s can drink. No matter how great a particular chain’s use case is, the marketing is what is most powerful, that is until we are all smart enough to understand what goes on behind the scenes.

  2. cryptosi

    |Author

    From ‘paper’…….. yeah right!!!

    That fiat scamcoin has been digital since the 70s.

    Moving it from one scam database to a closed blockchain (also just a scam database) is pointless trivial and impertinent.

  3. cbpn8

    |Author

    ||Private placements are typically held on paper and lack standardization which not only makes accessing them difficult and inefficient but also points towards an archaic and out-dated system.

    Using blockchain to reduce the time it takes investors to make checks or queries on holdings, the new HSBC platform, known as Digital Vault, will give investors real-time access to records of securities bought on private markets.

    So this is blockchain vs paper records.
    What extra benefit does it bring compared to a regular database?

  4. Newnew2

    |Author

    This sounds really awesome. Bringing greater visibility to private market ownership will lower transaction costs and increase the efficiencies of said markets.

  5. Svoboda1

    |Author

    This story was buried during the Thanksgiving holidays but picked up steam during the later part of this week on my social media feeds. Quite a few of the folks talking about it are fretting about smart contracts causing massive job loss in the near future.

    In any event, this is a pretty significant implementation.

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