Blockchain software company ConsenSys today announced the acquisition of Quorum, an enterprise-variant of the Ethereum blockchain launched by JP Morgan (JPM) in 2016. The two firms have a history of collaboration after leading the creation of the Enterprise Ethereum Alliance, whose aim is to bring a Mainnet Ethereum client, Hyperledger Besu, to the Linux Foundation, […]
ErisX today announced the launch of the first US-based Ether futures contracts, giving individual and institutional investors access to physically delivered futures contracts based on ETH-USD with monthly and quarterly expirations. ErisX is a unified platform for cryptocurrency spot and regulated futures trading and investing. “We are proud to bring this infrastructure to the benefit […]
Sometimes it just pays to have the odd rule in your trading ecosystem to protect you from when things – as they inevitably do – go wrong. The latest to discover this is Japanese crypto exchange Quoine, which this week lost an appeal against a ruling in Singapore that it wrongfully reversed seven crypto trades […]
ErisX has partnered with Etale, a firm that offers market data, exchange connectivity, order management and accounting capabilities for firms trading digital assets. Members of ErisX will now be able to view real-time market data, and manage account balances and order execution via a secure connection using either Etale’s front end or API. “We want […]
TrueDigital, a provider of institutional-grade products to the crypto space, has announced a partnership with Crux Informatics (Crux), a cloud-based platform and managed service that provides data delivery and operations at scale. Through this partnership, trueDigital OTC cryptocurrency reference rates will be available to its institutional customers. These indices will provide the crypto community with […]
Societe Generale has revealed that on April 18 its subsidiary, Societe Generale SFH, issued €100 million of covered bonds as a security token (OFH), directly registered on the Ethereum blockchain. The OFH tokens have been rated Aaa / AAA by Moody’s and Fitch and have been fully subscribed by Societe Generale. This operation is the […]
Most published analysis of the legal consequences of blockchain forks has been underwhelming. Discussions often centre around the legal risks to miners and developers, questions of little relevance because of the general absence of contracts between users of public blockchains and the constellation of jurisdictions from which they operate. In other words, it will freeze in hell before anonymous developers based god-knows-where win a lawsuit against unidentified Chinese miners aggregated in a mining pool. I should add that several articles appeared to be advertorials by law firms looking for new business.
The comparison between blockchain technology and the early days of the Internet is one that is perennially made in articles and at industry conferences, but is it accurate or even helpful?
This was the question posed to Cristina Dolan, co-founder and COO of InsureX, and Adrian Patten, the co-founder and chairman of Cobalt, at the Forex Network Chicago conference.
“The Internet was a lot easier to deal with because it was a linear process: you had a database, there were users, you had a web interface and although you were still training people how to use the web interface, you could control that whole ecosystem that you put up, you just had to drive people to the page,” said Dolan.
One of the interesting characteristics of the cryptocurrency markets is that trading in these assets has predominantly been driven by retail players, with proprietary trading firms being the first institutional size firms to start getting involved.
So which firms are likely to enter the market next, and will they propel the mainstream adoption of crypto trading?
“Naturally a lot of prop desks are looking at the space in a discrete but very active way,” says Francisco Portillejo Hoyos, CEO of CRYPTALGO. “The other wave is that a lot of family offices are seeing a very nice diversification on their allocations.”
It is something of an attention-grabber when someone who builds solutions on distributed ledger technology (DLT) says, “We are not a blockchain company”, however that is exactly how Tim Grant, co-founder and CEO of DrumG, starts our conversation. “We are a company that builds on blockchains; not one blockchain, but the right one – we build ledger appropriate solutions,” he explains. “We would never say ‘our blockchain is better than yours’. What we say is ‘our ability to choose the right blockchain and build on it, is better than yours’ – there’s a significant difference.”