It doesn't seem like decentralization or proof-of-work are important here, given that everything is going through a small number of exchanges, and even if not, through a single SEC. The existing system already works on mutual trust between the exchanges and DTC, and it's not the trust that's an issue here, just complexity. Blockchains are complexity.
Cryptographic history and authorization of transfers may be useful, but it just requires some straightforward digital signatures, not blockchains.
https://twitter.com/patio11/status/583696870704152576
It doesn't seem like decentralization or proof-of-work are important here, given that everything is going through a small number of exchanges, and even if not, through a single SEC. The existing system already works on mutual trust between the exchanges and DTC, and it's not the trust that's an issue here, just complexity. Blockchains are complexity.
Cryptographic history and authorization of transfers may be useful, but it just requires some straightforward digital signatures, not blockchains.