I still remember the day I first heard about the potential of blockchain technology to revolutionize financial settlements. It was a few years ago, and the concept of on-chain settlement was still in its infancy.
Fast forward to today, and we're seeing significant advancements in this space. The latest news that caught my attention is Tassat's win of a US patent for its 'yield-in-transit' on-chain settlement technology.
Understanding the Technology
The patented technology enables intraday, block-by-block interest accrual during 24/7 settlement. This is a significant development, especially for institutional networks like Lynq, which Tassat co-launched in July.
- The technology allows for real-time settlement and interest accrual
- It enables institutions to settle transactions 24/7, reducing the need for traditional banking hours
- The 'yield-in-transit' approach can potentially increase liquidity and reduce counterparty risk
This innovation has the potential to disrupt traditional settlement processes, which are often slow and cumbersome. With Tassat's technology, institutions can now settle transactions in real-time, reducing the need for intermediaries and increasing the overall efficiency of the process.
Implications for the Industry
The implications of this technology are far-reaching. For one, it can help reduce the risk of counterparty default, which is a significant concern in traditional settlement processes.
- Institutions can now settle transactions in real-time, reducing the risk of counterparty default
- The technology can increase liquidity and reduce the need for intermediaries
- It has the potential to disrupt traditional settlement processes and increase overall efficiency
As I look at the bigger picture, I'm reminded of the importance of innovation in the financial sector. Technologies like Tassat's 'yield-in-transit' on-chain settlement tech have the potential to create a more efficient, secure, and transparent financial system.
My Take
As someone who's been following the development of blockchain technology, I'm excited to see the potential impact of Tassat's patented technology. It's a reminder that innovation is alive and well in the financial sector, and that we're on the cusp of a significant transformation.
The future of finance is looking brighter than ever, and it's technologies like 'yield-in-transit' on-chain settlement that will get us there.
