Since January, blockchain technology company Digital Asset has issued at least eight press releases detailing its progress toward completing the Canton Network, a blockchain ledger designed to house tokenized assets. To run its Canton Network pilot programs, Digital Asset partnered with the Depository Trust and Clearing Corporation and Euroclear, two of the world’s most influential financial institutions.
These successful pilot programs indicate the imminent arrival of a global, dematerialized macroeconomic system, which could lead to the loss of remaining property rights over virtually all of our assets.
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DTCC and Euroclear play critical roles in tokenization. DTCC serves as the clearing and settlement provider, standing “at the center of global trading activity” and processing trillions of dollars in securities transactions daily. Euroclear, meanwhile, is “the leading International Central Securities Depository (ICSD).” Together, these entities handle the majority of global securities transactions.
In the pilot program with DTCC, U.S. Treasuries were tokenized and used as collateral for margin calls. In the future, other tokenized assets could also serve as collateral for similar purposes and beyond. […]
— Read More: www.theblaze.com
