Add one more name to the list of industries that blockchain intends to disrupt. After laying off 14 percent of its staff and splitting its operations into two separate units, Consensys Inc., announced yesterday that it was venturing into the municipal bond market. The Brooklyn-based company announced acquisition of Heritage Financial Systems, a Pennsylvania-based registered investment advisor and broker/dealer for muni bonds. The purchase is … Continue reading ConsenSys Plans to Enter the Muni Bond Market. Will It Succeed?
Along with a bursting of the cryptocurrency bubble, there might have been another implosion of sorts in recent months. According to a Reuters report, several banks and financial institutions have put brakes on their efforts to reinvent existing systems and processes using blockchain. The report names prominent financial institutions, such as Depository Trust&Clearing Corporation (DTCC) and BNP Paribas SA, which started blockchain projects last year … Continue reading