DTCC moving to the blockchain


Acid test: The Depository Trust and Clearing Corp., the world’s main data repository for credit derivatives deals, is moving its database to the blockchain, “the first big test case for whether the emerging technology can be employed across the finance industry,” the Financial Times said. The DTCC, which processes more than $1.5 trillion of securities a year, will use technology from IBM and blockchain start-ups R3 and Axoni. Work on the project is expected to begin later this month and go live in about a year.