Why big banks are snubbing open ledgers to build their own private blockchains

DRW founder Don Wilson says public blockchains conflict with how institutions trade and manage risk, limiting adoption. What to know : Don Wilson, founder and CEO of DRW, said Wall Street firms are unlikely to adopt fully transparent public blockchains because open ledgers conflict with how institutions manage risk and protect trading strategies. Publishing every institutional trade onchain would violate fiduciary duty by revealing large investors’ intentions, increasing price impact and enabling front-running, he said. While Wilson sees opportunities in tokenizing real-world assets, he expects institutions to favor private or permissioned blockchain systems that prioritize privacy, control over data and market-structure protections over the transparency of public chains like Ethereum.(Coindesk)