Safety operates steadily in Ethereum's first blockchain transaction

In the first transaction that took place on Friday, everything needed to switch from the old world of centralized clearinghouses to the front end of the decentralized blockchain was the push of a button.

A company called Marex is issuing two separate structured notes. Both notes were created using ResonanceX, an investment platform created by Guillaume Chatain, former Managing Director of JPMorgan Chase. The first bill will be settled in the old fashion of Clearstream, the European clearing house.

But the second one, otherwise the same bill will be registered, cleared and settled on the public Ethereum blockchain. All publishers must change this parameter by selecting a different option from the pull-down menu in the ResonanceX Dashboard.

Parallel distribution will test the idea on the basis of Apple's relationship with Apple that the blockchain provides a cheaper way to liquidate and settle financial instruments. If it turns out, ResonanceX will allow future publishers to choose one as easily as changing orders on Amazon.

The precarious risk is not just Clearstream's business model, but global centralized settlement.

Despite this, Chaitain ignored the idea in an interview with CoinDesk that anyone must be mediated. Instead, he said that his product simply changed the rules of the game.

"The current system is performing well. It is a well-functioning machine," said Chatain, who previously worked in JPMorgan's private risk management department. "But you have so many intermediaries. It takes time. It doesn't have to be the cheapest way to do things."