复旦金融评论|区块链如何颠覆金融行业?( 六 )


Charles Chang: What does Axoni do today and what do you view as the value proposition?
Greg Schvey: We ensure our clients have timely, accurate, and complete data. However, we’re more than a software provider. We work closely with the industry to align large institutions on complicated technology deployments and have built out a proven, repeatable model to get this infrastructure deployed in a wide range of markets.
Charles Chang: Is Blockchain just re-doing something we have been doing for a long time? What is the real “need” being filled that was previously impossible?
Greg Schvey: The concept of electronic data transfer has existed for a long time. The major leap with this technology is confirmation that all relevant parties are storing and processing that data correctly. Finishing that last mile of automation and synchronization has the potential to take out tens of billions of dollars of costs in capital markets, in addition to substantially reducing risk.
Charles Chang: There is some notion out there of “Blockchain for Blockchain’s sake,” that there is some fad-component. Is that mis-informed?
Greg Schvey: In many cases, that’s actually quite accurate. The space attracted huge amounts of venture capital, consulting revenue, and internal budgets. For a long time, attaching the word “Blockchain” to something was a way to increase the probability of funding. In fact, simply doing something related to the word ”Blockchain” was a major driver for many projects. With those days now behind us and the time for constant experimentation is over, solutions have to survive on their own merits. This means less total deployments, but a much higher proportion that are viable.
Charles Chang: Can you give a case study as to the critical role that’s being played and how you expect that to develop going forward?
Greg Schvey: In the case of equity swaps, the issue of broken data is a longstanding and well-known problem in the industry. To calculate a monthly payment owed on an equity swap contract, there could be thousands of underlying datapoints, all collected, stored, and processed separately by each party to the trade. Multiply that by the various swap types and number of counterparty connections throughout the market and you can quickly imagine how frequently people end up disagreeing on the value of a swap. This leads to huge operational costs, poor client service, and undesirable risk.
With our Blockchain infrastructure, any data that goes onto the shared ledger is immediately and provably synchronized with all relevant parties, eliminating breaks and substantially reducing operational costs and risk[1].
Charles Chang: Why is this driving value for these firms? Why are they willing to turn to it now and is this a “temporary” fix or long-term?
Greg Schvey: This is arguably the first truly fundamental fix in a very long time. The idea of being able to rely fully on all data on the ledger brings a level of efficiency that has never existed before.


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