Brett Harrison: belief

Transcript context

…That's a great leading to the next question, which is will there ever be a time when things that are equivalent to stocks or other kinds of equities will be traded on change in some sort of decentralized way? I think it's likely. I think the primary reason is that existing settlement systems in traditional markets seem to be very slow and built on very outdated technology that's like highly non transparent and very error prone. So equities are a prime example of this. Like it still requires two business days to settle a stock. And a frequent occurrence when I was at trading firms was that, you know, you would get your settlement file, that one told you, like, what trades were settled, and two told you things like if any corporate actions had occurred overnight, like paying a dividend or share split, and they would frequently be wrong, like the dividend would be wrong or would be missing, or the share split amount was for the wrong amount. Or they missed the day that it happened or they messed up. Some trades didn't get reported properly. They're just frequently mistakes. And it feels like there should be some easy, transparent kind of open, decentralized settlement layer for all things that you can trade. And rather than try to retrofit the existing settlement technology to be faster and better, starting from scratch with something like Blockchain could make a lot of sense, which is why you hear about a lot of these investment banks working on settling fixed income products on chain. The fixed income products have even worse settlement cycles than equities. Should the marginal crypto trader stop trading? Maybe this might also be a good question to ask by the marginal trader for on Robin Hood or something, but.…

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