This is a a teaser to an announcement for a new product design that we will be unveiling on Monday.
I want to emphasize how much of a privilege it has been for us at LedgerX to work with a technology that is provably transparent to all people. If you look back at the first bitcoin block ever mined (the so called “genesis” block), it has been stuck in time and the facts of its composition have never changed for a decade now.
On the other hand, there has been understandable grumbling in various parts of the derivatives industry about crypto products approved that rely on tenets diametrically opposite in spirit to what I described— confidential practices and communications between parties, non existent information sharing agreements with opaque overseas exchanges, and many more back room communications not suited to being encoded on a blockchain.
Selectively choosing comment periods is not a public comment period. If you think this dynamic is one that encourages transparency, then man do I have a LIBOR fixing rate to sell you.
On the other hand, Bitcoin is all about transparency — no selective comment periods, no selective favoritism to certain institutions, just a unified ledger open to view for everyone. Verifiable facts based in math and science.
In having to deal in both worlds, we have designed what we think is the most transparent, near impossible to manipulate derivatives contract in recent memory, using the power of the Bitcoin protocol. Independent of political factors, lobbyist pressures, and special interests, we hope this contract will be a template for many others to come even if not invented here.
Stay tuned, this is possibly some of the proudest work the LedgerX team has done to date.