Blockchain gradually entering the mainstream

The 19th September House of Commons Treasury Committee report on “Crypto-assets” touches on blockchain, and there is a section (starting at para 37) entitled “Application of blockchain to financial services and other industries”.  It says nothing new, and repeatedly aims to puncture the hype, as did Chapter 5 of June’s BIS Annual Economic Report 2018  “Cryptocurrencies: looking beyond the hype“.  It notes that many a suggested example of how DLT could be used in the FS industry was “so different from the original blockchain [that] it becomes meaningless to refer to it as blockchain”.  Proving the point, Tuesday’s FT reported that more than 75 banks have now joined the J.P. Morgan-led “Interbank Information Network“, a project to standardise the recording of information regarding payments and make it available to all members, so as to eliminate keying and other errors in payment transmissions.