Blockchain Project Aims to Bring Speed, Transparency to Wall Street Trading
Coinsetter has launched Project High Line, a blockchain-based technology that aims to improve how trades across Wall Street are executed.
Feb 26, 2015 at 11:17 a.m. UTC
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Coinsetter has launched Project High Line, a blockchain-based technology that it claims will improve Wall Street's "outdated" trading system.
The New York-based firm says that the project will help to attain a "stark transparency", replacing Wall Street's current settlement rails with a traceable blockchain-based peer-to-peer (P2P) system, giving market participants further control of their assets.
The High Line Project's "On-Blockchain Settlement" will also enable clients trading on the exchange to view their funds on the blockchain in near real time, without the need for an intermediary.
Jaron Lukasiewicz, CEO of Coinsetter, said:
The exchange says that the project is a "shift from the status quo on Wall Street", which aims to solve the problem of having to place trust in an exchange or intermediary.
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The news comes after Coinsetter announced that it intended to divide a 10% stake in the company's business among interested market makers willing to add liquidity to its order book at the end of last year.
Wall Street image via Shutterstock
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