Enterprise Trends at Consensus 2019

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Coindesk’s Consensus 2019 event revealed some new trends, among them the intermingling of public and private ledgers emerged as a key narrative in enterprise blockchain.

Coindesk says that while there were many different strategies discussed, there were five main topics that dominated the conference.

One of them was so-called “Blockchain-as-a-Service,” with Amazon Web Services (AWS) talking about its new Managed Blockchain Service, which deploys Hyperledger Fabric with public ethereum soon to be added.

ConsenSys-backed Kaleido offered its array of new enterprise blockchain tools with its new B2B tech stack. This delivers “pushbutton asset tokenization and trading, easy integration and hybrid deployment for blockchain networks.”

Another topic was building consortia to build and execute the technology and a panel discussed the state of play that was aptly named “Herding Cats.”

Brian Behlendorf, executive director of Hyperledger (a chief DLT cat herder) said, “There are pure technology consortiums like Hyperledger. There are standards consortiums like the Enterprise Ethereum Alliance. And then there are consortiums focused on one particular vertical, so something like we.trade would be a good example of that.”

Central securities depositories (CSDs) were another debated subject. The London Stock Exchange Group (LSEG) and the Depository Trust & Clearing Corporation (DTCC) were at the center of this discussion. DTCC was early to embrace the power blockchain could bring to the fragmented, reconciliation-heavy, post-trade environment. As Coindesk reports, “It has taken on an ambitious project to run the Trade Information Warehouse (TIW) on distributed ledger tech, which will automate record-keeping, lifecycle events and payment management for approximately $10 trillion of cleared and bilateral credit derivatives.”

Finally, regulations around security tokens or tokenized security also featured strongly. LSEG blockchain architect Michael Coletta said: “On the question of security token or tokenized security, I would humbly respond by saying it doesn’t matter and is only semantic. Let’s remember to distinguish the legal and the technological. Security, legal; token, technical. To the extent that regulation endeavors to be technologically neutral, and it does, usually, the token concept is irrelevant when considering the legal.”

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