Banks test promise of blockchain as CCP replacement
“You can imagine a world where you don’t need clearing houses,” says senior banker
Disruptive technologies are upsetting apple carts everywhere. Taxi drivers grumble about Uber undercutting fares, while Airbnb has done a number on the hotel industry.
Could the clearing business also be in line for disruption?
"You can imagine a world where you don't need clearing houses, at least not in the same role," says a prime brokerage executive at a European bank in London.
That is an important qualifier. The belief among many market participants is that distributed ledgers – the
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