No, “Blockchain” is not a solution looking for a problem

I have heard this comment many times:

“Blockchain” is a solution looking for a problem.

 

That is incorrect – here’s the problem statement, originally articulated in 2008:
Bitcoin whitepaper

The problem statement, to paraphrase, is

“How do people pay each other electronically without being at the behest of Financial Institutions?”

The proposed solution is:

“Bitcoin”

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In a nutshell: DTCC whitepaper on distributed ledgers – Jan 2016

In a nutshell: DTCC whitepaper on distributed ledgers – Jan 2016

On 25 Jan 2016 the DTCC released a white paper entitled “Embracing Disruption – Tapping the potential of distributed ledgers to improve the post-trade landscape”.  It is a very good read: high quality, succinct, and cuts through the hype.

I attempt to summarise for those with less time to read the full paper.

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