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Tag Archives: Charles Cascarilla

Paxos using blockchain to fix problems in capital intensive businesses Feature,Video,video

Charles Cascarilla, CEO of the fintech company Paxos, says the current way of dealing with back and middle office post-trade processes is too manpower-intensive and is hindering businesses. He believes blockchain is the solution to some of the problems affecting capital-intensive businesses. Since the financial crisis, exchanges have eliminated 10 percent of costs out of the front office but only five percent out of the back and middle office, because firms are using old technology, Cascarilla said. Enter blockchain, a distributed ledger that lets everyone use a shared books and records system, getting rid of the need for different firms…

A Blockchain Solution to Gold Settlement Issues Blog,Metals

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Amid all the talk of blockchain and its applications for the financial and trading worlds, Euroclear and ItBit have gotten together to come up with what they feel is a solution to some of the problems in the gold market, in particular the settlement of unallocated gold. The two companies are partnering to develop a blockchain-based service which lowers costs, makes delivery and payment systems more efficient, and reduces balance sheet issues. The service uses New York-based ItBit’s blockchain technology called Bankchain, which provides tracking, clearing and settlement of trades. Addressing efficiency problems in the gold markets is no easy…