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Here’s What #Bitcoin Offers That #Private #WallStreet #Blockchains Won’t

In an article by bicoinmagazine: A panel at a recent #cryptocurrency event hosted by the Cato Institute discussed the differences between public #blockchains (such as #Bitcoin ) and the distributed ledger technology currently being researched by various Wall Street firms and consortiums. Although many people view consortium blockchains as competition for Bitcoin, the reality is that these systems are mostly intended for different use cases.

While Wall Street’s distributed ledger technology may offer substantial improvements over their current systems, these permissioned ledgers may not be able to provide the level of openness and regulatory arbitrage offered by Bitcoin....

LedgerX CEO Paul L. Chou explains:

“I worked on Wall Street at Goldman Sachs, and the business model there is very high-touch, very large clients with a lot of depth who need a lot of coverage. That’s fine for one model, but there’s also, I think, room for a model where it’s very low-touch, where the amounts that we’re talking about that people want to save or invest are not that significant to justify a Goldman Sachs or Morgan Stanley kind of going into that market.”...

Read Full Article@bitcoinmagazine>>

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