Blythe Masters solidified her Wall Street reputation as a top-level executive at J.P.Morgan, which she left in 2014 after a career spanning 27 years. Since then, she has bridged the gap from financial institutions to fintech startups by becoming CEO of Digital Asset, a leader in the use of Distributed Ledger Technology for wholesale financial services providers, and as the Governing Board Chair for Hyperledger, an open-source collaborative effort created to advance cross-industry blockchain technologies.
Given her experience, Masters has a firm grasp on how the technology is poised to change the way in which the financial services industry operates to make it more efficient, safe and innovative.
“Blockchain technology represents a generational opportunity to mutualize database infrastructure across entities within financial services,” she said. “What that translates into is an enormous cost-saving, risk-reducing, and capital-enhancing opportunity."
While Digital Asset builds new software based on Distributed Ledger Technology, Hyperledger serves as an open evaluation platform for advancing the technology. “I would describe Hyperledger as a tremendous opportunity for collaboration for firms that range from gigantic commercial concerns all the way to the smallest, newest startups. It’s a community of great intellectual depth and great commercial breadth, and as such, I think the opportunity to be part of that is a unique and enriching experience,” said Masters.
State Farm announced on December 10 that it is experimenting with a blockchain-based solution for managing the subrogation process in the insurance industry, making the company the latest major enterprise to explore blockchain technology.