How a financial contract standard could help Blockchain achieve institutional scale

Blockchain has so far failed to overcome its notorious trilemma: the need for trade-offs between speed, scalability and decentralisation. Until it does, blockchain technology will struggle to fulfil its potential by penetrating the traditional securities and derivatives markets and remain trapped in the mere transmission of value in crypto-currency markets rather than displacing the entire structure of the global financial markets. Enterprise blockchains, the long awaited Ethereum 2.0 and variations on Proof of Work offer a variety of ways around the trilemma. The Casper Association, with its own variation on Proof of Stake, is not dismissive of these technical fixes, but two of its members think a financial contract standard could also help. Dominic Hobson, co-founder of Future of Finance, spoke to Ralf Kubli, an investor and independent director, and Willi Brammertz, managing director at Ariadne Business Analytics, about the Actus FRF data standard, which distils the essence of any financial instrument into its cash flows.

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