Blockchain uses decentralized record keeping and the scrutiny of the “crowd” to allow people to trade bitcoin over a public network without working through a trusted middle man like a bank or clearing house. Complex cryptography keeps the records from being tampered with once they’re signed off on. Banks and other trading institutions think the technology has the potential to rip out huge amounts of cost from their businesses and are looking at ways it can be adopted to mainstream finance. 42 banks have signed up to an industry-wide consortium looking at use cases. Chad Cascarilla is at the heart …
New York's itBit is trying to bring the tech behind bitcoin to Wall Street
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