The Pros And Cons Of Bitcoin

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Leading representatives of the financial industry invested $ 30 million in the company called Chain, which works with banks and other financial institutions, creating the infrastructure for the organization of trade and transfer of digital assets, using basic technology Bitcoin, called chain blocks or blockchain. And finally Wall Street continues to bet on a technology that until recently was considered just another fad.

The list of investors includes such financial giants like Visa, NASDAQ, venture capital division of Citigroup - Citi Ventures, Bank Capital One, a leading provider of financial technology Fiserv, as well as the phone operator Orange, which previously reported plans to invest in startups connected with cryptocurrency. Representatives
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At the same time, all these financial companies are not interested in bitcoin itself or any other cryptocurrency as such. They are attracted by the blockchain technology, allowing bitcoin owners instantly and safely perform and record financial transactions, and they see it as one of the options that will replace the current process, which, according to them, is too complicated, costly and much worse in terms of safety and reliability. Any financial transaction, either trading stocks or foreign currencies, banks deal with many intermediary firms responsible for checking and execution of various…show more content…
As was stated by the CEO of Chain, there is nothing Как отметил СЕО компании Chain, that nothing is impossible and it is possible to transform the process of transferring financial assets, but need the right partners for realization.
The Chain already is working with NASDAQ exchange, using technology to simplify accounting operations in the distribution of ownership shares in private companies, but in principle but in reality NASDAQ does not have urgent need to seek the help of assistants from the side. In order to change something really big, something like how stocks or corporate bonds are transferred from one investor to another, it requires the consent of the representatives of the entire financial sector.

Chain is one of the few startups that compete with each other for leadership in the field of blockchain implementation on Wall Street. Among the most interesting competitors are Digital Asset Holdings, owned by a former top manager of JP Morgan & Chase Blythe Masters or Ripple

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