TL;DR 5 Sentence Summary - Goldman Sachs' New Patented Coin

GS is expected to launch its own cryptocurrency called SETLcoin, which will be used for trade settlement.

Built around SETLcoin will be a robust trading system, which will offer instant trade settlements, a self-regulatory mechanism based on blockchain technology, and many other benefits which will make the functions of clearing houses redundant.

The underlying system will be based on blockchain, which will host virtual multi-asset wallet to store different kinds of securities, cash, and cash equivalents in terms of SETLcoin.

After a trade is made between a buyer and a seller, the clearing house like the National Securities Clearing Corporation matches the trade instructions as received from both the trading parties.

Following the successful matching of the trade details, the clearing house initiates the settlement process which involves the transfer of securities from the seller's dematerialized account to the buyer's demat account, and payment of money from buyer's account to seller's account.

Source: Investopedia

So it's basically a glorified private database. It'll do things faster.. but it'll still do the same things..?