London-based transaction network for investment funds Calastone to make the entire settlement through blockchain by May 2019. The transaction costs range up to $217 billion a month. Around $2billion could be saved in the global mutual fund market if the automated blockchain system is adopted. Calastone CEO said making cheaper and efficient system will be a win-win for everybody.
A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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