Former senior JPMorgan Chase & Co. executive Blythe Mastersis heading a cryptocurrency startup that aims to overhaul the waytraded assets are settled and recorded.
Masters, who helped develop credit-default swaps two decadesago, was named Tuesday as the chief executive officer of DigitalAsset Holdings LLC. The New York-based company plans to usebitcoins and blockchain technology for settlement andrecord-keeping of the likes of stocks, mortgages, or loans.
Bitcoins are part of an anonymous, decentralized networkprotected by cryptographic codes that works outside the bankingsystem. Computers communicate with one another to verifytransactions on bitcoin's public ledger, called the blockchain.Cryptocurrencies have been criticized for their potential inillicit deals and are known for their embrace by libertarians.
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