Finally someone who gets it…Any entity that is currently doing business with the DTCC doesn’t need the Clarity Act to pass in order to operate (Upgrading the existing system).
They’ve been operating under the assumption that we’re already in compliance with existing laws.
"The DTCC model, with all the respect for them trying to innovate, is just about preserving the existing market structure"
Securitize founder Carlos on why the DTCC tokenization pilot misses the point
"We were actually not there. If you look at who was not there, Superstate, us, Centrifuge, all the transfer agents. The DTCC model, with all respect for them trying to innovate, is just about preserving the existing market structure"
"When WhatsApp came, instead of trying to build a WhatsApp which is open, anybody can download it, anybody can communicate with anybody, it's free, they were trying to improve SMS because SMS is where the telcos make money. It kind of feels a little bit like what the DTCC is doing. Same market structure, same market participants, same T plus 1 settlement"
"It doesn't seem you will be able to take those tokenized entitlements, put them on a self-custodial wallet, take them to a DeFi protocol, and borrow against them. They're not going to take advantage of the power of public blockchains. It's more operational improvements into the existing market structure, which is less interesting in my opinion"