FYI: Vanguard, the 44-year-old mutual giant famous for popularizing index investing, has completed one of the most noteworthy implementations of blockchain technology for a financial institution to date. It’s now using blockchain—the distributed ledger software that underpins cryptocurrencies like bitcoin—to help manage data for some of its most widely used financial products, including its largest mutual fund, the $800 billion Total Stock Market Index Fund.
Since February, Vanguard has been using a blockchain product to ingest data for $1.3 trillion worth of funds, or one quarter of its total $5.2 trillion in assets under management. Many financial institutions have been implementing and testing blockchain on a limited scale, as Forbes recently reported in our first-ever Blockchain 50 list. But Vanguard’s project is live as the back-end platform powering millions of customer accounts. It’s likely the first major financial institution using blockchain for a core service.
Regards,
Ted
https://www.forbes.com/sites/jeffkauflin/2019/05/30/vanguard-is-now-using-blockchain-technology-to-help-manage-13-trillion-in-index-funds/#5b72cfbb8dfe
