R3 Founder: Blockchain Technology a “Perfect Fit” for Derivatives and Smart Contracts Shares

The Founder of R3, Todd McDonald has recently shared his initial experience with blockchain technology and how he’s come to admire the technology for its ability to serve as a foundation for derivatives and smart contracts market reports AMB Crypto.

This was shared, along with far R3 is expected to reach, during the Securities and Exchange Commission [SEC] event dubbed FinHub where McDonald served as a panelist.

The SEC has been trying to better understand the innovation behind cryptocurrencies, the use of blockchain technology and its necessary regulations. To arrive to some conclusion, they’ve previously requested input from both specialists and fanatics of this respective industry.

In an attempt to further understand the viewpoints of several other players in the field, namely, innovators, developers and entrepreneurs, the SEC has since initiated the Strategic Hub for Innovation and Financial Technology (FinHub). This will also help prepare for what’s to come in terms of the evolution of “methods of capital formation, market structures and investor interfaces.”

As for R3, an enterprise blockchain company, here’s what has been taking place so far:

“There has been work going on around derivatives in the industry […] One of the other challenges for any implementation is coming to a standard representation of a derivative contract or smart contract.”

When McDonald was first introduced to blockchains, he took the time to make sense of it. When he did, he found that the technology was a “perfect fit for Derivative contract, for smart contract especially.”

The news outlet further shared how McDonald felt that an interconnection existed between blockchain technology and R3’s Corda platform – principally when it comes to “the aspect of multilateral transactions.” He made the case that blockchain’s success can be measured by how the “company creates the golden source of transactions.”

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Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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