Active dinner party chat about this last night at chez Jones!! People seem to be twigging that the bitcoin rails (block chain) could be, as one of our founders, Greg Schvey, pointed out at a recent FinTech Collective event, be used to disrupt the way title is exchanged, stocks and bonds are traded and digital media assets are transferred.. Why should it take T+1, T+2 or T+3 to settle a trade?
Bitcoin’s building blocks, designed to validate each transaction, are adaptable for any type of exchange, regardless of whether they are attached to a currency or not. Called a blockchain, the currency’s underlying design opens up possibilities for the technology to be used in other industries, according to Marc Andreessen, a partner at Andreessen Horowitz who is looking to fund startups focused on this new category. “The blockchain is the core innovation,” Andreessen said at CoinSummit. “We want a whole sequence of companies: digital title, digital media assets, digital stocks and bonds, digital crowdfunding, digital insurance. If you have online trust like the blockchain provides, you can reinvent field after field after field.”