2 February 2016
Private/Permissioned Blockchains Next Up for Distributed Ledgers
By Elizabeth Wu
WatersTechnology asked Peter Vaihansky, Senior Vice President at DataArt, about the benefits of blockchain technology and how it differs from bitcoin.
“What it does very well is it brings everybody in a multilateral situation on to the same page... and it's achieved mathematically, cryptographically, by virtue of how the ledger is designed," he says. "The big difference between the original blockchain for bitcoin and the blockchain now widely talked about by banks is that instead of preferring transactions to be unknown, blockchain prefers transactions to be known.For the capital markets, blockchain has obvious appeal with post-trade settlement and clearing…
"It's a distributed database where every node, every participating machine in the network stores the exact same thing. There isn't one central repository where the data resides, the data resides everywhere and it's the same data by definition.”