Insight - Digital cash can prevent accidents on forex highway

Seizing the moment: A customer uses a bitcoin automated teller machine at kiosk in Barcelona. There is a big opportunity for blockchain tokens to prove their utility in the global finance market. -- Bloomberg

ON any given day, you’ll find US$19 trillion (RM79.7 trillion) of payment obligations dotting the busy highway of global finance, waiting to be settled.

These claims, all of which result from foreign-exchange or forex trades, mostly reach their destinations without a glitch. But, blockchain evangelists claim, that is more luck than planning: Almost half of this amount remains just as exposed to accidents as it did on a day half-a-century ago when liquidators showed up unannounced at a midsize German bank.