Wall Street has been embracing the latest wave of Silicon Valley financial tech at a fast rate. Over the past several months, many Wall Street Financial companies have embraced the new wave fintech enterprises with remarkable speed.
The blockchain an online ledger that tracks the movement of digital currency, but it can also be used to manage, register and secure anything else that has value. Wall Street companies seem to have seen the true potential of the blockchain technology and many are now rushing to invest and develop new applications with this new technology.
Jamie Dimon, JP Morgan Chase CEO, expressed his belief saying that “Silicon Valley is coming.”
Dimon has been warning the Wall Street old guard that traditional banking is facing new and competitive alternatives, and now it looks like Wall Street is seriously interested in developing and investing in blockchain technology.
Throughout this year we have seen a lot of Wall Street Companies such as Nasdaq or Nyse have been funding startups working with blockchain technology.
Earlier this week, a San Francisco startup called Chain announced it was receiving $30 million in funding from capital investors such as Visa, Capital One Financial, Citi Ventures,