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Blockchain: Wall Street’s Most Game-Changing Technology
These are challenging days on Wall Street. Concerns about international increase and small yields on equity are driving executives to find means to be more efficient, leaner and rewarding.
Blockchain is known by a number of people as the underlying technology behind the digital money Bitcoin that is contentious. Nevertheless, blockchain is so much more; it’s very advanced and its guarantee is far reaching. This technology is a transparent and safe manner to digitally monitor the possession of assets before, during and after trades, and it’s the possibility to finally transform everything from stock exchanges run to how proxies are voted. From Wall Street to Estonia, financial companies are investing in and analyzing blockchain.
McKinsey & Co. wrote that blockchain will “radically reshape the capital markets business,” but that “the blockchain revolution will not occur suddenly.”
Our strategy will be to invest organically, in addition to through top innovators in this space. We also recently joined the Hyperledger Project, an open source endeavor improving common blockchain standards. We’re not the only ones investigating this technology. Aite Group predicts that capital markets businesses will spend about $400 million per annum by 2019 developing blockchain-enabled options, up from only $75 million.
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