A decade after the financial crisis, The Wall Street Journal has checked in on dozens of the bankers, government officials, chief executives, hedge-fund managers and others who left a mark on that period to find out what they are doing now. Today, we spotlight
and Gary Gorton.
Blythe Masters helped create credit-default swaps, a derivative that many on Wall Street hailed as a groundbreaking innovation before it played a major role in the 2008 financial meltdown. Now, the former
executive is focusing on another potentially transformative but unproven idea: blockchain, the technology underpinning bitcoin. Blockchain combines powerful tools from the world of secret codes and code-breaking with a decentralized network to form a secure record of transactions in cyberspace.
Enthusiasts say it could modernize everything from Walmart Inc.’s supply chain to the often clunky systems behind oil and metals trading. Skeptics say blockchain is wildly hyped and less efficient than the databases that businesses often already use to maintain records.
Ms. Masters, 49 years old, was an early Wall Street convert to cryptocurrencies. In 2015, she became chief executive of Digital Asset Holdings LLC, a startup looking to bring blockchain to traditional financial firms like banks and exchanges, before most bankers and traders embraced the technology. Read more from wsj.com…
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