At today's meeting of the CFTC Global Markets Advisory Committee, Commission Mark Wetjen issued a thoughtful and important public recognition of the potential importance of the blockchain technology to existing derivatives markets. At Direct Swap we have long recognized the application of crypto-currency technologies to derivatives markets and transactions, and applaud this foresight by the CFTC.
discussion today will be relevant in helping the CFTC and the public better understand the potential benefits that Bitcoin or Bitcoin-like protocols and technology – as opposed to the crypto-currency itself – could bring to the derivatives marketplace. Settlement and other trustee-like services are at the core of the bitcoin-technology protocol. Any type of open-sourced, public-ledger technology seemingly could be useful in the derivatives space, where monies and collateral are frequently transferred and settled throughout a trading day.