CFTC's Quintenz says DLT will cause "sea change"
Distributed ledger technology “is on the verge of creating a sea change in contract design, reporting and settlement”, Brian Quintenz, a member of the Commodity Futures Trading Commission, said this week, as he was named sponsor of its Technology Advisory Committee (TAC).
Distributed ledger technology decentralises data, allowing multiple or all market participants access to the same ledger of information on a need-to-know basis. The technology's advocates claim that it has cost benefits, as it cuts out middlemen, reduces duplication and makes data less vulnerable to targeted cyber attacks.
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