In the US, DTCC is working with IBM, R3 and Axoni to shift post-trade clearing of single-name credit default swaps on to a blockchain system by the end of next year. If this goes well, the plan is to do the same with other derivatives processed by the giant US clearing house.  There are many different projects but Stuart Graham, chief executive of financial analysis company Autonomous Research, believes the industry will coalesce around one solution. "Over the next couple of years, as the winning tool becomes clear you will see the whole industry line up behind up it," he says. “It is in none of their interests to keep all the bureaucracy and inefficiencies of the current back-office set-up.” 

https://www.ft.com/content/615b3bd8-97a9-11e7-a652-cde3f882dd7b