Blockchain technology has garnered a lot of attention in the financial world, as the decentralized public ledger could transform the way the industry keeps records or handles transactions. Several banks all over the world are trying to explore the applications of blockchain technology in their internal operations while some forward-looking companies such as Overstock have experimented with the bitcoin-related technology in securities clearing.
For blockchain-based private security company Symbiont, blockchain technology could spell the future of Wall Street through ‘smart securities’ or ‘smart contracts’.
Blockchain Technology and Smart Securities
According to Symbiont CEO Mark Smith, the company plans to focus on private equity markets. He explained that many startups are avoiding public offerings and that a robust private securities market might shape the future of finance.
“You look at companies like Uber in Series K or Series N rounds, the allure of going public isn’t what it used to be,” Smith cited. “What can be done then is transfers to other securities. Because we did straight equity and debt, we demonstrated you can do a bond on the bitcoin blockchain and then you can do it on a