One of the areas frequently mentioned as ripe for improvement by applications of the broad group of technologies known as blockchain, or distributed ledger technology (DLT), is capital markets. In the “ledger nirvana” of many blockchain proponents, market counterparties use consistent sets of trade data. They also use smart contracts, computer protocols that facilitate, verify, … Continue reading ‘Ledger Nirvana’ in trade processing either doesn’t exist or is aeons away