“Platt breaks down the value proposition of CCPs into four categories.
The first two — managing operational tasks to reduce settlement risk and tracking the credit risks counterparties may pose — are perfectly suited to being encoded into smart contracts and run on a distributed ledger, he said.
By encoding the operational tasks into a blockchain, Platt believes he’ll be able to give his clients the ability to determine who has access to what information.
“They can see more information and thus can make greater assessment of the true risk,” he said.
He contends the other two value propositions of CCPs will remain valuable long after the other services are “wrapped into a heartless smart contract”.
He said services which are the “more nuanced”, and therefore not likely to be disintermediated by blockchain smart contracts, include the handling of counterparties that default on a contract and the management of systemic risks.”
via CoinDesk http://ow.ly/1LZq302kjrC