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Opening Remarks of Michael Bodson, DTCC President & CEO
Washington, DC
June 20, 2016

Remarks As Prepared for Delivery

Good morning, I’m Mike Bodson, President & CEO of DTCC. Thank you for taking the time to join us for a discussion on the topic of
blockchain and opportunities for harnessing the potential of financial technology.

By a show of hands, how many of you have ever used Uber instead of a taxi or car service? How about Airbnb in place of booking a
hotel room? And how many of you have paid for something using the Venmo app? It looks like many of you.

These are well-known examples of how technology is capable of disrupting and transforming an industry in the blink of an eye. We’re
seeing a similar trend on the business-to-consumer side of financial services, where firms like Lending Tree and Kickstarter are altering
the relationship between banks and their customers. Now we are seeing that same phenomenon move to the back office – the area
where financial transactions are processed.

Read the full text of Remarks By Michael Bodson, DTCC President & CEO (pdf)