Coinsetter, a New York-based exchange, has launched Project High Line, which will use bitcoin's blockchain technology for the quick and transparent settlement of trades.
The project is expected to improve what it regarded as an obsolete system still used on Wall Street, where several intermediaries are involved to reassign ownership. With this service, the investors buying or selling bitcoin will have a "line-of-sight" view of their funds after trades are executed and also no intermediary will be required to verify the location or ownership of funds.
"Coinsetter's Project High Line is an important application of blockchain technology that reforms outdated clearing and settlement rails, just as the High Line Park, built over outdated railway infrastructure, has forever revitalized downtown New York City and increased its value", said Jaron Lukasiewicz, CEO of Coinsetter.
