I would say the problem they are trying to solve is security settlement between different institutions. I guess right now each institution has their own database of who owns what and it's difficult to transfer ownership between them.
What if there was one or many massive global shared ledgers all these institutions ran nodes for? You could transfer ownership of a security between someone in China and Europe instantly.
What if there was one or many massive global shared ledgers all these institutions ran nodes for? You could transfer ownership of a security between someone in China and Europe instantly.