Tech and Banking Giants Ditch Bitcoin for Their Own Blockchain - WIRED
www.wired.com/2015/12/big-tech-joins-big-banks-to-create-alternative-to-bitcoins-blockchain
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Saved with the link. Notes from 2007 to 2016 are mostly the page's own words, so this is probably an excerpt.
Dubbed the Open Ledger Project, this effort is a re-imagining of several big ideas. The blockchain is essentially a database that runs across a worldwide network of independent machines—a database that's controlled by no single entity but can still reliably track the exchange of assets, thanks to some nifty mathematics. With bitcoin, the blockchain tracks the exchange of money. But it can also track the exchange of anything else that carries value—including stocks, bonds, and other financial securities, as well as assets like houses and car titles. And in recent months, several projects have seized on many of these possibilities.
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