“The downside of blockchain is Bitcoin”| JAX Finance
In his keynote at JAX Finance, John Davies, co-founder and CTO of C24, a London-based fast data company specializing in high-volume, low-latency complex messaging, talked about the problem that blockchain solves, the technologies which use it and the industry sectors that are interested in this mechanism. He also answered the question ‘why are global banks investigating the use of blockchain in their applications?’
By now you’ve probably heard of Bitcoin, the famous cryptocurrency. Most people are aware that the critical foundational technology supporting Bitcoin is called blockchain, which is a distributed record of digital events. Marc Andreessen, a prominent U.S. venture capitalist has called blockchain’s distributed consensus model as the most important invention since the Internet itself.
But how does Bitcoin relate to blockchain and why are global banks investigating the use of blockchain in their applications? What problem does blockchain solve, what technologies does it use, why should you care? Why are a variety of industry sectors interested in this mechanism?
John provided valuable information on blockchain, related technologies and implementations for you to make up your own mind. Explanations of how it works, who’s using it today, who might be interested in the coming months/years and why what it may mean to you.
John Davies is co-founder and CTO of C24, a London-based fast data company specializing in high-volume, low-latency complex messaging. With customers including many of the world’s largest investment banks, C24 provides data optimisation for standards like SWIFT, ISO-20022, FpML and FIX as well as proprietary formats. C24 has recently released a new data optimization product – PREON – that creates highly optimized binary versions of these complex messages reducing memory and network usage by over 20 times, while significantly increasing performance.
John has been global chief architect at JP Morgan, BNP Paribas and was the original architect behind Visa’s V.me (now Visa Checkout). John has co-authored several Java books and is a frequent speaker at technical and banking conferences around the world. He is married to a French wife and has 3 boys (12, 14 & 17) who all love traveling (as long as there’s internet).