Vanguard Taps Symbiont's Private Blockchain for Index Fund Data

Vanguard Taps Symbiont’s Private Blockchain for Index Fund Data

Vanguard, the mutual fund giant, will begin using smart contract technology developed by blockchain startup Symbiont in some of its actual business processes starting early next year. For the last few months, the companies have been testing the technology to simplify the way Vanguard takes in data from the Center for Research in Security Prices (CRSP) at the University of Chicago’s Booth School of Business. This information is used to determine the composition of certain index funds managed by Vanguard, and includes things like company names, share counts, index weighting and corporate actions such as mergers or stock splits. […]