In Derivatives, How Does the Use of a Central Clearing Counterparty (CCP) Mitigate Counterparty Risk Similar to How the Blockchain Prevents Double-Spending?

A Central Clearing Counterparty (CCP) acts as a buyer to every seller and a seller to every buyer in a derivatives trade, becoming the counterparty to all transactions. This eliminates the risk of default between the original trading parties (counterparty risk).

Similarly, the blockchain's consensus mechanism and immutability eliminate the risk of double-spending, which is a form of digital counterparty risk. Both systems insert a trusted, neutral intermediary (CCP or the protocol) to guarantee the integrity of the transaction.