#ftalphaville

[pskotarczak]

For one, we’re not convinced blockchain can ever be successfully delinked from a coupon or token pay-off component without compromising the security of the system. Second, we’re not convinced the economics of blockchain work out for anything but a few high-intensity use cases. Third, blockchain is always going to be more expensive than a central clearer because a multiple of agents have to do the processing job rather than just one, which makes it a premium clearing service — especially if delinked from an equity coupon — not a cheaper one.

[cisarovna]

Financial Analysis of the EURO Squads

For most people this probably isn't very interesting, but for the other two of you, UniCredit did a little financial analysis of the teams competing which FTAlphaville did a little write up on.  My favorite bits:

One funny thing to note is net transfer sales, by football league and hence country... Some of the usual suspects are net exporters...[meaning]... they all make more money selling players than they spend on buying them.

However, it is worth noting three countries’ positions: Greece, Portugal, and Germany. While Greece (€6m) and Portugal (€12m) are net exporters, Germany is a net importer (€5m)

Anything that describes Portugal and Greece as net exporters, and Germany as a net importers deserves a laugh.  If only life would imitate art (or football in this case).

Employing strictly a market value approach, they came up with the final brackets:

Based on this analysis and the composition of the groups, the semi-finals will be two classics: Portugal versus Spain and Germany versus England. The final will Spain versus Germany.

And of course this:

FT Alphaville has, through a source, received the latest message between the German Chancellor and the Spanish PM (the Germans… is there anything they won’t leak?):

“Listen Rajoy, you make sure Torres misses this and Bankia is sorted. Kisses, Angie”

I'll trade you a Torres for a bailout :P

You can read the rest here.