Vanguard will use blockchain to share index data

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Vanguard will use blockchain to share index data

Post by mws13 » Mon Jan 22, 2018 2:51 pm

Epsilon Delta wrote:
Mon Jan 22, 2018 2:19 pm
mws13 wrote:
Mon Jan 22, 2018 10:22 am
1) If I stay 100% on the Bitcoin network, using my "Core Bitcoin Wallet" which is a "node" on the system, and I never transfer to USD or any other digital or fiat currency, the only way to hack/steal my bitcoin is through my computer.
There is also the good old fashioned fraud where you order and pay for an office chair and they send you a bobcat. Payment systems such as credit cards, debit cards and paypal deal with these. Bitcoin (as a payment system) doesn't. Irresistibility is a bug not a feature. Bitcoin is still subject to the courts ordering a refund, but this only works for moderately bad actors, the real scammers simply ignore the courts.
So you can set up a Smart Contract (see Ethereum) where 1/2 of the Payment does not release until Fedex scans the Barcode confirming the office chair is in a box on their truck. Then when a fully functional office chair arrives, you confirm and the second payment releases.

Both you and the Vendor would have a rating, and it would be up to you if you want to deal with that Vendor, and vice versa the Vendor deal with you, similar to Ebay.

David Marcus (former President of eBay and current Facebook Messaging VP) is now on the Board of Coinbase - https://www.pymnts.com/news/2017/facebo ... ase-board/

Obviously Marcus knows this stuff better than me.

User avatar
Ged
Posts: 3829
Joined: Mon May 13, 2013 1:48 pm
Location: Roke

Re: Vanguard will use blockchain to share index data

Post by Ged » Mon Jan 22, 2018 3:06 pm

Oicuryy wrote:
Wed Dec 13, 2017 5:45 pm
Here is symbiont.io's description of how CRSP and Vanguard are using their software.
https://symbiont.io/solutions/index-data-distribution

Source code for a demo version of their software is here.
https://github.com/symbiont-io/assembly-sdk

Ron
Thanks for the reference. It seems to me that the important part is this:

"The solution was deployed on nodes run by Vanguard and CRSP connected in a truly decentralized network with a single source of truth."

In other words the key thing is that across Vanguard's no doubt large infrastructure you are guaranteed consistent data.

User avatar
Epsilon Delta
Posts: 8090
Joined: Thu Apr 28, 2011 7:00 pm

Re: Vanguard will use blockchain to share index data

Post by Epsilon Delta » Mon Jan 22, 2018 3:12 pm

mws13 wrote:
Mon Jan 22, 2018 2:51 pm
Epsilon Delta wrote:
Mon Jan 22, 2018 2:19 pm
mws13 wrote:
Mon Jan 22, 2018 10:22 am
1) If I stay 100% on the Bitcoin network, using my "Core Bitcoin Wallet" which is a "node" on the system, and I never transfer to USD or any other digital or fiat currency, the only way to hack/steal my bitcoin is through my computer.
There is also the good old fashioned fraud where you order and pay for an office chair and they send you a bobcat. Payment systems such as credit cards, debit cards and paypal deal with these. Bitcoin (as a payment system) doesn't. Irresistibility is a bug not a feature. Bitcoin is still subject to the courts ordering a refund, but this only works for moderately bad actors, the real scammers simply ignore the courts.
So you can set up a Smart Contract (see Ethereum) where 1/2 of the Payment does not release until Fedex scans the Barcode confirming the office chair is in a box on their truck. Then when a fully functional office chair arrives, you confirm and the second payment releases.

Both you and the Vendor would have a rating, and it would be up to you if you want to deal with that Vendor, and vice versa the Vendor deal with you, similar to Ebay.

David Marcus (former President of eBay and current Facebook Messaging VP) is now on the Board of Coinbase - https://www.pymnts.com/news/2017/facebo ... ase-board/

Obviously Marcus knows this stuff better than me.
Fedex will not confirm that the box contains a chair. All this does is limit the con man to stealing half your money. The credit card company is in effect running a rating system you do not have to worry about, ratings systems unconnected to the payment are less reliable. The bitcoin fans underestimate the complexity of what banks and payment systems do. It is much more than simply transferring dollar bills.

mws13
Posts: 55
Joined: Wed Mar 25, 2015 2:14 pm

Re: Vanguard will use blockchain to share index data

Post by mws13 » Mon Jan 22, 2018 4:08 pm

Epsilon Delta wrote:
Mon Jan 22, 2018 3:12 pm

Fedex will not confirm that the box contains a chair. All this does is limit the con man to stealing half your money.

FEDEX IS GETTING INTO CUSTODIAL:

“blockchain represents a significant opportunity in the custodial control and chain of control for supply chain shipments”
https://themerkle.com/fedex-plans-to-de ... on-effort/

IN ADDITION. YOU CAN SET UP THE TERMS WITH A SMART CONTRACT. YOU CAN MAKE IT 100% PAYMENT ON DELIVERY. THE POINT IS YOU CAN CONTROL THE TERMS and NEVER USE AN ATTORNEY.

The credit card company is in effect running a rating system you do not have to worry about, ratings systems unconnected to the payment are less reliable.

I AGREE
The bitcoin fans underestimate the complexity of what banks and payment systems do.

I AGREE

It is much more than simply transferring dollar bills.

I AGREE
But what you are describing is a "value proposition" to the consumer. Speaking for myself as a consumer, I use Vanguard because I don't see any real value in having a Merrill Lynch professional try to "beat the market" and charge 1%.

There are lots of threads for "Personal Insurance Umbrella Policies" and we have one too. Intellectually, I know it is a waste of money, but I keep it for piece of mind at a relatively small price.

I doubt in my lifetime that my wife will prefer to use Crypto over USD to buy an office chair. Where the Blockchain gets interesting, to me, is Real Estate transactions as an obvious need. I just paid a Title Insurance company again on a annual renewal with the bank on a property that my family has held for 66+ years. Sure it needed title insurance one time to clear. Once it clears title, put it on a Public Blockchain, and any future claims could be seen on this Public Blockchain. If no Indian Tribes in New England (Law School Class #201), no taxing authorities, no banks, no neighbors have filed any claims since the last title clearance, why do we have to pay for Title Insurance again? Title companies are in bed with the state capital, so obviously this is not an easy change, but it is coming - in my opinion.

User avatar
Epsilon Delta
Posts: 8090
Joined: Thu Apr 28, 2011 7:00 pm

Re: Vanguard will use blockchain to share index data

Post by Epsilon Delta » Mon Jan 22, 2018 5:40 pm

mws13 wrote:
Mon Jan 22, 2018 4:08 pm

IN ADDITION. YOU CAN SET UP THE TERMS WITH A SMART CONTRACT. YOU CAN MAKE IT 100% PAYMENT ON DELIVERY. THE POINT IS YOU CAN CONTROL THE TERMS and NEVER USE AN ATTORNEY.


Where the Blockchain gets interesting, to me, is Real Estate transactions as an obvious need. I just paid a Title Insurance company again on a annual renewal with the bank on a property that my family has held for 66+ years. Sure it needed title insurance one time to clear. Once it clears title, put it on a Public Blockchain, and any future claims could be seen on this Public Blockchain. If no Indian Tribes in New England (Law School Class #201), no taxing authorities, no banks, no neighbors have filed any claims since the last title clearance, why do we have to pay for Title Insurance again? Title companies are in bed with the state capital, so obviously this is not an easy change, but it is coming - in my opinion.
This shows a serious misunderstanding.

First anybody can create a contract without an Attorney. All of us do this all the time. For example when I bought a hot dog there was a contract. I didn't have an Attorney, maybe the hot dog vendor did. Bitcoin does allow some of the things we have always done face to face to be done online but it does not get the law out of the contract. If the hot dog happened to contain rat poison there will certainly be lawyers involved.

Similarly for a real estate transaction. You can write a contract in bitcoin, but if there is a dispute the courts and attorneys will get involved. And although the bitcoin transaction may be irreversible the courts can order you to give the money back, and enforce it if you have assets or your tender person in their jurisdiction.

The title problem was solved by Sir Robert Torrens in 1858. All that is needed is political desire to implement the solution. Without that blockchain cannot help, with the will blockchain adds nothing.

Finridge
Posts: 670
Joined: Mon May 16, 2011 7:27 pm

Re: Vanguard will use blockchain to share index data

Post by Finridge » Mon Jan 22, 2018 6:15 pm

Epsilon Delta wrote:
Mon Jan 22, 2018 5:40 pm
mws13 wrote:
Mon Jan 22, 2018 4:08 pm

IN ADDITION. YOU CAN SET UP THE TERMS WITH A SMART CONTRACT. YOU CAN MAKE IT 100% PAYMENT ON DELIVERY. THE POINT IS YOU CAN CONTROL THE TERMS and NEVER USE AN ATTORNEY.


Where the Blockchain gets interesting, to me, is Real Estate transactions as an obvious need. I just paid a Title Insurance company again on a annual renewal with the bank on a property that my family has held for 66+ years. Sure it needed title insurance one time to clear. Once it clears title, put it on a Public Blockchain, and any future claims could be seen on this Public Blockchain. If no Indian Tribes in New England (Law School Class #201), no taxing authorities, no banks, no neighbors have filed any claims since the last title clearance, why do we have to pay for Title Insurance again? Title companies are in bed with the state capital, so obviously this is not an easy change, but it is coming - in my opinion.
This shows a serious misunderstanding.

First anybody can create a contract without an Attorney. All of us do this all the time. For example when I bought a hot dog there was a contract. I didn't have an Attorney, maybe the hot dog vendor did. Bitcoin does allow some of the things we have always done face to face to be done online but it does not get the law out of the contract. If the hot dog happened to contain rat poison there will certainly be lawyers involved.

Similarly for a real estate transaction. You can write a contract in bitcoin, but if there is a dispute the courts and attorneys will get involved. And although the bitcoin transaction may be irreversible the courts can order you to give the money back, and enforce it if you have assets or your tender person in their jurisdiction.

The title problem was solved by Sir Robert Torrens in 1858. All that is needed is political desire to implement the solution. Without that blockchain cannot help, with the will blockchain adds nothing.
All great points. Title to real property could be handled via registration, the same way we handle title to vehicles.

But even if we don't go that route, we don't need "blockchain" to make it easier to research real estate title. We could stay with the county recorder's office filings--most of those are now kept in databases that act as "ledgers". We just need these databases to be easier to access.

InsuranceQuant
Posts: 3
Joined: Mon Jan 22, 2018 6:04 pm

Re: Vanguard will use blockchain to share index data

Post by InsuranceQuant » Mon Jan 22, 2018 6:17 pm

This reminds me of a Matt Levine piece at Bloomberg a while back, although I can't find the link. He basically argued that "Blockchain" is a word that people in IT can say to their bosses that gets bricks of money thrown at them. So they've used it as an excuse to upgrade their technology by saying that it is "blockchain" ready. Not really sure how Vanguard using blockchain to share index data is any different from them just putting the data in a website that other people can access.

edgeagg
Posts: 143
Joined: Tue Jan 23, 2018 1:27 pm
Location: WA-US

Re: Vanguard will use blockchain to share index data

Post by edgeagg » Tue Jan 15, 2019 9:58 pm

InsuranceQuant wrote:
Mon Jan 22, 2018 6:17 pm
This reminds me of a Matt Levine piece at Bloomberg a while back, although I can't find the link. He basically argued that "Blockchain" is a word that people in IT can say to their bosses that gets bricks of money thrown at them. So they've used it as an excuse to upgrade their technology by saying that it is "blockchain" ready. Not really sure how Vanguard using blockchain to share index data is any different from them just putting the data in a website that other people can access.
While I mostly agree with you, the only conceivable reason I can think of for using a byzantine fault tolerant protocol such as a bc is the following:

(1) There are participants who modify or otherwise add value to the data - hence there are transactions against the data by participants and these need to be timestamped and ledgerized.
(2) Some of these participants are not reliable (need fault tolerance).

Other than that, who knows. I agree with you in terms of a technology being converted into a religious mantra to chant for extracting money from unsuspecting wallets.

User avatar
ResearchMed
Posts: 9372
Joined: Fri Dec 26, 2008 11:25 pm

Re: Vanguard will use blockchain to share index data

Post by ResearchMed » Tue Jan 15, 2019 10:31 pm

Theseus wrote:
Wed Dec 13, 2017 4:42 pm
I am going to take a crack at simplifying this for non-IT folks.

Let's start with an engine. There is an engine in a lawnmower, snow thrower, car, airplane, helicopter, rockets. Engine at its core performs the basic function of converting fuel into energy that can be then converted into a force. In this example blockchain is the Engine and Bitcoin is a Car (or a mower or take your pick). So just because the Car has the Engine doesn't mean that any engine's purpose is only to provide power for the car. One engine will drive your lawnmower and the other will defy gravity and take you to the space. Both of those engines are going to look incredibly different - even though we call them engines.

Blockchain is essentially a technology (in the layman's term) to establish a ledger (or any piece of information) on many different computers at the same time. It makes sure it is consistent, secure, and is incredibly difficult to hack.

What vanguard is doing is a great thing. I am sure this is just pilot project to test the technology so they can roll it out for actually record keeping and transactions.

Some people worry that someone will hack your broker's computers and electronically modify what you own. If your broker was using a blockchain technology to keep track of your records then it will be distributed on many different computers and that makes it super difficult to hack. (I am simplifying this a lot - but that's the basic idea).
edgeagg wrote:
Tue Jan 15, 2019 9:58 pm
InsuranceQuant wrote:
Mon Jan 22, 2018 6:17 pm
This reminds me of a Matt Levine piece at Bloomberg a while back, although I can't find the link. He basically argued that "Blockchain" is a word that people in IT can say to their bosses that gets bricks of money thrown at them. So they've used it as an excuse to upgrade their technology by saying that it is "blockchain" ready. Not really sure how Vanguard using blockchain to share index data is any different from them just putting the data in a website that other people can access.
While I mostly agree with you, the only conceivable reason I can think of for using a byzantine fault tolerant protocol such as a bc is the following:

(1) There are participants who modify or otherwise add value to the data - hence there are transactions against the data by participants and these need to be timestamped and ledgerized.
(2) Some of these participants are not reliable (need fault tolerance).

Other than that, who knows. I agree with you in terms of a technology being converted into a religious mantra to chant for extracting money from unsuspecting wallets.

This is no doubt totally (and embarrassingly) naive, but... if the "benefit" is that "will be distributed on many different computers and that makes it super difficult to hack"...and there are/can be "transactions against the data by participants and these need to be timestamped and ledgerized"...

Why couldn't someone just hack the blockchain and get the changes (good for them, not so good for you and me...) to appear everywhere, just like "honest" changes?

What would stop "dishonest transactions" from being "timestamped and ledgerized"?

:confused

How is this different from the basic cops and robbers game. New "cop strategy"... soon... new "robber strategy" to defeat it?

Yes, yes, I need to do more homework, but I'm not sure why "THIS technology" - or *any* technology - is supposedly so "foolproof".
[Unfortunately, my "cutting edge" tech days and skills have gone the way of some dinosaurs.]

RM
This signature is a placebo. You are in the control group.

User avatar
beyou
Posts: 2845
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Vanguard will use blockchain to share index data

Post by beyou » Tue Jan 15, 2019 11:46 pm

randomizer wrote:
Wed Dec 13, 2017 1:18 pm
I find this puzzling. The blockchain hype train is leaving the station. Seems like a case of the old saying: when you have a hammer, everything looks like a nail.
+1000

I work in IT, and every IT exec wants to figure out a way to say they are using blockchain technology. The use is completely inapplicable to sharing index data. I had previously posted about $1 billion IT budget at Vanguard. Clearly this is a wasteful portion of that budget, money that may better serve lots of other purposes.

User avatar
beyou
Posts: 2845
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: Vanguard will use blockchain to share index data

Post by beyou » Tue Jan 15, 2019 11:48 pm

InsuranceQuant wrote:
Mon Jan 22, 2018 6:17 pm
This reminds me of a Matt Levine piece at Bloomberg a while back, although I can't find the link. He basically argued that "Blockchain" is a word that people in IT can say to their bosses that gets bricks of money thrown at them. So they've used it as an excuse to upgrade their technology by saying that it is "blockchain" ready. Not really sure how Vanguard using blockchain to share index data is any different from them just putting the data in a website that other people can access.
Also AI, data science, robotic process automation, machine learning. All have uses, but all are abused and often diminish focus on more useful projects.

User avatar
unclescrooge
Posts: 3982
Joined: Thu Jun 07, 2012 7:00 pm

Re: Vanguard will use blockchain to share index data

Post by unclescrooge » Wed Jan 16, 2019 12:09 am

nisiprius wrote:
Wed Dec 13, 2017 11:18 am
Jags4186 wrote:
Wed Dec 13, 2017 9:54 am
...I understand that. But my question is if bitcoin is an implementation of blockchain, but you can create as many implementations of the block chain as you want, why would bitcoin have value...
That's in fact a problem, and it's why you have Bitcoin, Litecoin, Swiftcoin, Namecoin, Peercoin, Dogecoin, Emercoin, Gridcoin... I'm tempted to say Thiscoin and Thatcoin but they might be real cryptocurrencies.
YNACCOIN?

Ztx
Posts: 76
Joined: Thu Jul 21, 2016 9:54 pm

Re: Vanguard will use blockchain to share index data

Post by Ztx » Wed Jan 16, 2019 12:43 am

beyou wrote:
Tue Jan 15, 2019 11:46 pm
randomizer wrote:
Wed Dec 13, 2017 1:18 pm
I find this puzzling. The blockchain hype train is leaving the station. Seems like a case of the old saying: when you have a hammer, everything looks like a nail.
+1000

I work in IT, and every IT exec wants to figure out a way to say they are using blockchain technology. The use is completely inapplicable to sharing index data. I had previously posted about $1 billion IT budget at Vanguard. Clearly this is a wasteful portion of that budget, money that may better serve lots of other purposes.
+2000

I'm in IT as well and blockchain is overhyped. You don't need blockchain to share index data (but hey, what would a Vanguard IT exec put on his/her resume then? :)

edgeagg
Posts: 143
Joined: Tue Jan 23, 2018 1:27 pm
Location: WA-US

Re: Vanguard will use blockchain to share index data

Post by edgeagg » Wed Jan 16, 2019 10:26 am

ResearchMed wrote:
Tue Jan 15, 2019 10:31 pm

This is no doubt totally (and embarrassingly) naive, but... if the "benefit" is that "will be distributed on many different computers and that makes it super difficult to hack"...and there are/can be "transactions against the data by participants and these need to be timestamped and ledgerized"...

Why couldn't someone just hack the blockchain and get the changes (good for them, not so good for you and me...) to appear everywhere, just like "honest" changes?

What would stop "dishonest transactions" from being "timestamped and ledgerized"?

:confused

How is this different from the basic cops and robbers game. New "cop strategy"... soon... new "robber strategy" to defeat it?

Yes, yes, I need to do more homework, but I'm not sure why "THIS technology" - or *any* technology - is supposedly so "foolproof".
[Unfortunately, my "cutting edge" tech days and skills have gone the way of some dinosaurs.]

RM
Let me see if I can explain without all of the techno crap:

(1) There is no such thing as an honest or dishonest transaction. There is a transaction that happened at a certain time which was done by someone or not. The essence of block chaining is that whether the transaction happened or not cannot be lied about. This is because the transactions are chained together and then a sequential hash is computed (block-chaining). Getting two different transactions with the same hash is computationally very very hard (except for quantum computers). So, you can think of this as an integrity check over a series of transactions. But you require that hashes are computed correctly (more on that below).
(2) So the point here is that if a transaction happened, you can't lie about whether it happened or not. That is multiple parties have arrived at a consensus on the state of the world.
(3) Now consider the case when some of the parties are buggy or malicious. In this case, we need further crypto-crap to make things work (this is the so-called byzantine consensus). To understand more about Byzantine Consensus see Byzantine Fault Tolerance. A single party cannot break the consensus since there is a majority of non-bad/non-buggy parties also executing the protocol.

That is as well as I can explain it without the math. There is no rocket science here, just well understood mathematics.

User avatar
ResearchMed
Posts: 9372
Joined: Fri Dec 26, 2008 11:25 pm

Re: Vanguard will use blockchain to share index data

Post by ResearchMed » Wed Jan 16, 2019 10:45 am

Thanks. I'll study these...
Not understanding this is really starting to annoy me.
(Is it possible for someone not fully up to date on this to "really" understand, or should we/I need to be satisfied with a "somewhat general" understanding?)

Here is a link to a TED talk on "The Blockchain Explained Simply".

https://www.youtube.com/watch?v=KP_hGPQ ... e=youtu.be

Is it a realistic explanation?

I have not yet finished the video, in part because.... [three of the comments/questions seem similar to my concern/question}:

'But couldn't the blockchain be manipulated by someone who just puts in more and more computers into that blockchain to sway the 50%? Or buy out multiple parties?"
&
"A silly question perhaps , what happens if a corrupt entity controls more than 50% of the nodes "
&
"I got lost and quit when he said something like "all the computers are trying to update the ledger but the one which solves a problem first gets to update it. Then if more than half of the computers agree the answer was solved the update is approved." So I immediately wondered why a puzzle had to be solved to update it. Then I wondered why solving the puzzle allowed them to enter in anything they wanted into the ledger. Then I gave up on the video."

RM
This signature is a placebo. You are in the control group.

User avatar
Nate79
Posts: 5177
Joined: Thu Aug 11, 2016 6:24 pm
Location: Delaware

Re: Vanguard will use blockchain to share index data

Post by Nate79 » Wed Jan 16, 2019 11:24 am

Another crypto thread pops up. Is it the sign of the apocalypse?

User avatar
David Jay
Posts: 7311
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Vanguard will use blockchain to share index data

Post by David Jay » Wed Jan 16, 2019 12:10 pm

ResearchMed wrote:
Tue Jan 15, 2019 10:31 pm
How is this different from the basic cops and robbers game. New "cop strategy"... soon... new "robber strategy" to defeat it?
There will always be ways to defeat the human element (think phishing emails), but the entire point of blockchain is that the technology is pretty darn secure (never say never, but this is about as close as it gets).

It is estimated that up to 20% of all bitcoins are now permanently lost due to individuals misplacing their credentials, No way to retrieve them. Even with millions of dollars worth of assets. For millions of dollars of legitimate assets, do you not think that those individuals have put maximum effort into the recovery effort?
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

User avatar
roymeo
Posts: 1272
Joined: Sat Apr 28, 2007 7:19 pm
Location: Oakland, CA
Contact:

Re: Vanguard will use blockchain to share index data

Post by roymeo » Wed Jan 16, 2019 2:14 pm

ResearchMed wrote:
Wed Jan 16, 2019 10:45 am

'But couldn't the blockchain be manipulated by someone who just puts in more and more computers into that blockchain to sway the 50%? Or buy out multiple parties?"

RM
Yes, and that's a real concern. Clever of you.
https://www.google.com/search?q=50%25+o ... e&ie=UTF-8
The sewer system is a form of welfare state. | -- "Libra", Don DeLillo

Fryxell
Posts: 112
Joined: Sat Mar 02, 2013 10:08 pm
Location: Dallas

Re: Vanguard will use blockchain to share index data

Post by Fryxell » Fri Jan 18, 2019 1:49 am

aristotelian wrote:
Wed Dec 13, 2017 7:14 am
Does this mean Vanguard is going to invest in Bitcoin? :mrgreen: :greedy :shock:
Better question: When will Vanguard open the VBITX and VBITC funds, along with the VBIT etf? :twisted:

German Expat
Posts: 643
Joined: Fri Oct 16, 2009 10:49 pm

Re: Vanguard will use blockchain to share index data

Post by German Expat » Fri Jan 18, 2019 8:36 am

Saw this recently :D :

Welcome to 2019, traveler from 2009. The brief:
-sysadmins are now "ops"
-servers are all just "cloud" something
-algorithms are "AI"
-DBs are "blockchains"
-Everything that spies on people is "smart"
Good luck. And update your CV with the above words.

There are things for which a blockchain makes sense and previous posters explained it well already but a lot of the announcements you read from companies are better covered by a database.

Tdubs
Posts: 859
Joined: Tue Apr 24, 2018 7:50 pm

Re: Vanguard will use blockchain to share index data

Post by Tdubs » Thu May 30, 2019 10:27 am


amendezpr
Posts: 2
Joined: Tue Dec 26, 2017 9:49 am

Re: Vanguard will use blockchain to share index data

Post by amendezpr » Thu May 30, 2019 11:30 am

aristotelian wrote:
Wed Dec 13, 2017 7:14 am
Does this mean Vanguard is going to invest in Bitcoin? :mrgreen: :greedy :shock:


Blockchain is an application, no a "currency". It can be used Assets Tittle, medical records, financial record, etc... Bitcoin is dependent of Blockchain but blockchain is not dependent of bitcoin.

User avatar
Topic Author
Barry Barnitz
Wiki Admin
Posts: 3160
Joined: Mon Feb 19, 2007 10:42 pm
Contact:

Re: Vanguard will use blockchain to share index data

Post by Barry Barnitz » Thu Oct 03, 2019 12:25 pm

Hi:

Vanguard is testing using blockchain technology in the foreign exchange market: Vanguard to Challenge Banks’ Grip on $6 Trillion Currency Market Alistair Marsh, Bloomberg, October 3, 2019.
Having revolutionized the business of buying stocks, Vanguard Group is now coming for currencies.

The investing pioneer obsessed with lowering costs is testing a new way for asset managers to trade currencies and avoid big investment banks, according to a person familiar with the matter. The platform, based on the blockchain technology that powers Bitcoin, has been operational for two months and has handled some trades, said the person, asking not to be named because the project is private.
regards,
Additional administrative tasks: Financial Page affiliate blog; finiki the Canadian wiki; The Bogle Center for Financial Literacy site; Wiki Bogleheads® España.

Post Reply