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.”