Distributed Ledger Technology (DLT) is recognized as amazing to some and potentially valuable to many others in the financial services sector, according to various panelists in the Fintech Forum of the U.S. Securities and Exchange Commission (SEC), held November 14.
However, while DLT is probably “game changing” in terms of improving transactional efficiency, it is “not very sexy” in terms of where it sits relative to the existing fintech ecosystem and powerful factors such as cloud technology, said Brad Peterson, EVP and CIO/CTO for Nasdaq.
Peterson participated in a forum session focused on the impact of recent innovation on financial trading, settlement and clearance activities, which was moderated by Valerie Szczepanik, an attorney who is Head of the SEC Distributed Ledger Technology Working Group and Assistant Director, SEC Division of Enforcement.
They were joined by Chris Church, Chief Business Development Officer, Digital Asset Holdings (DAH); Emin Gün Sirer, Associate Professor Computer Science, Cornell University; Grainne McNamara, Principal in the Capital Markets unit at PricewaterhouseCoopers; and, Mark Wetjen, Head of Global Public Policy at the Depository Trust Clearing Corporation (DTCC).
Opening the session, Szczepanik noted that DLT emerged from recognition that the technology, originally associated only with Bitcoin, could