
Cryptographic Currency for Securities Settlement (Goldman Sachs Patent App) - jackgavigan
http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PG01&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.html&r=1&f=G&l=50&s1=%2220150332395%22.PGNR.&OS=DN/20150332395&RS=DN/20150332395
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HiLo
Does anybody know if they would have to get the DTC/NSCC on board with this
(or if that would even be difficult), as they are the actual custodians for
most of these securities and presumably would have to approve any new accepted
forms of clearing/settlement? Took this from elsewhere:

"The DTC holds trillions of dollars’ worth of securities in custody, including
corporate stocks and bonds, municipal bonds and money market instruments. It
settles funds at the end of each trading day using the Fedwire Funds Service.
The DTC is registered with the SEC, is a member of the Federal Reserve System,
and is owned by many companies in the financial industry, with the NYSE being
one of its largest shareholders. Securities brokers, dealers, institutional
investors, depository institutions, issuing and paying agents and settling
banks use the DTC, but individual investors do not interact with it.

In addition to safekeeping, recordkeeping and clearing services, the DTC
provides direct registration, underwriting, reorganization, and proxy and
dividend services. For example, under its dividend services, it announces when
a company declares a dividend, then collects the dividend payment from the
issuing company, allocates dividend payments to shareholders and reports those
payments."

