Maybe the finance industry fears a tool that is completely uncontrollable. They are businesses, not philosophers, so a consortium blockchain might be good enough, reassuring and ensures accountability.
For sure a paradigm shift started in 2025 : blockchains are no longer speculation toys; companies, banks, funds, clearing agencies are picking the blockchains that they find actually usable. So a lot of alts that were telling stories more than delivering reliable and desirable properties are now facing disinterest.
If we try to guess the winners, I think we should pay attention to Canton. It might be the alt that will rise now that the paradigm is real utility and no longer speculation. And among permissionless networks, Ethereum is clearly the most chosen so I’m not worried for us.
nodemaxxxer on
~~marketing~~ **gardening**
Or something like that
W0BLong on
ethereum is the real deal
csfrayer on
Talk to any large financial firm that crypto hypes as “adopting” blockchain and you will find that the only interest is private/permissioned – finance is a high-compliance sector and the money center banks and systemically important financial market utilities like DTCC are incredibly risk averse.
I have not spoken with any major player in the space that sees public/permissionless chains on their 5-year roadmap. Even the smaller financial firms that rely on eth as a base layer run strictly whitelist smart contracts.
Furthermore – the blockchain records on this DTCC project are not the record of beneficial ownership – DTCC has keys that override any private key so that they can reverse or correct any transaction and so that they are in compliance with Reg SCI. This DTCC news is a complete nothingburger for crypto which would be obvious if more people in the crypto industry took the time to actually understand how the traditional system works.
On a sidenote – everyone really ought to stop calling private/permissioned/whitelisted “crypto” IMO. It’s a completely distinct technology basically indistinguishable from existing digital ledgers we’ve been using for decades.
eviljordan on
> why tf is the biggest post-trade player picking a private-by-default network instead of Ethereum that everyone already uses?
Because it’s about control + marketing. DTCC gets to look modern, have an increased spend, and not cede control or transparency to anything. A fugazi, if you will.
5 Comments
Maybe the finance industry fears a tool that is completely uncontrollable. They are businesses, not philosophers, so a consortium blockchain might be good enough, reassuring and ensures accountability.
For sure a paradigm shift started in 2025 : blockchains are no longer speculation toys; companies, banks, funds, clearing agencies are picking the blockchains that they find actually usable. So a lot of alts that were telling stories more than delivering reliable and desirable properties are now facing disinterest.
If we try to guess the winners, I think we should pay attention to Canton. It might be the alt that will rise now that the paradigm is real utility and no longer speculation. And among permissionless networks, Ethereum is clearly the most chosen so I’m not worried for us.
~~marketing~~ **gardening**
Or something like that
ethereum is the real deal
Talk to any large financial firm that crypto hypes as “adopting” blockchain and you will find that the only interest is private/permissioned – finance is a high-compliance sector and the money center banks and systemically important financial market utilities like DTCC are incredibly risk averse.
I have not spoken with any major player in the space that sees public/permissionless chains on their 5-year roadmap. Even the smaller financial firms that rely on eth as a base layer run strictly whitelist smart contracts.
Furthermore – the blockchain records on this DTCC project are not the record of beneficial ownership – DTCC has keys that override any private key so that they can reverse or correct any transaction and so that they are in compliance with Reg SCI. This DTCC news is a complete nothingburger for crypto which would be obvious if more people in the crypto industry took the time to actually understand how the traditional system works.
On a sidenote – everyone really ought to stop calling private/permissioned/whitelisted “crypto” IMO. It’s a completely distinct technology basically indistinguishable from existing digital ledgers we’ve been using for decades.
> why tf is the biggest post-trade player picking a private-by-default network instead of Ethereum that everyone already uses?
Because it’s about control + marketing. DTCC gets to look modern, have an increased spend, and not cede control or transparency to anything. A fugazi, if you will.