Wall Street wants the tech but not the transparency. DRW’s Don Wilson says open ledgers are a dealbreaker for banks
DRW founder Don Wilson asserts that big banks reject public blockchains due to transparency concerns that conflict with trading and risk management.Summary
Don Wilson, founder and CEO of DRW, argues that while Wall Street firms are interested in blockchain technology, they will not adopt fully transparent, open ledgers like public blockchains. He stated that publishing all trades on-chain would be a failure of fiduciary duty for money managers, as visibility conflicts with risk management and protecting trading strategies, potentially causing significant price impact on large trades. Wilson believes the issue lies in implementation, not the technology itself, advocating for private, permissioned networks where visibility and transaction ordering are controlled. This stance contrasts with the public nature of platforms like Ethereum, leading major banks to develop in-house or support private blockchain systems that ensure data control and compliance, prioritizing privacy for institutional adoption.
(Source：CoinDesk)