HSBC swapping paper for blockchain to track $20 billion worth of assets

[universal4]

https://www.reuters.com/article/us-h...-idUSKBN1Y11X2

The platform, known as Digital Vault, will give investors real-time access to records of securities bought on private markets, HSBC (HSBA.L) told Reuters, and seeks to capitalize on booming interest in such investments by yield-hungry investors.

I am not 100% sure, but it does sound like one of the most far reaching blockchain asset tracking projects I have read about in recent times.

This is interesting on a number of fronts. For one thing they just recently announced a drop in profit outlook for the coming year
https://www.reuters.com/article/us-h...-idUSKBN1X7097

And they timed that announcement after the story a few weeks before of laying off 10,000 people
https://www.reuters.com/article/hsbc...-idUSL3N26R09P

It is too early to tell if this will work, or if it will help them track the assets as well as they hope. I have not seen much on how open the system will be, but if it does work, I could see where it might also provide companies opportunities to write more tools to best take advantage of what they do, or at least provide some insight into how others may do similar asset tracking projects.

Rick
Universal4