Blockchain and smart contracts could be the future of Wall Street.
Bitcoin has made its debut on Wall Street and the conversation is already ongoing about Bitcoin’s place and role in the global economic landscape. Wall Street is still struggling to come to terms with the fact that Bitcoin has outperformed practically every class of asset in the market right now. Economists are also trying to understand Bitcoin’s position as an alternative to fiat currencies in the global economic landscape.
However, Bitcoin is not the enemy, Wall Street should be more concerned about how the underlying Blockchain technology that drives Bitcoin can change the rules of the game on Wall Street. Bitcoin is okay with being a form of money – the proponents of Bitcoin just want the government to acknowledge the fact that fiat currencies are fundamentally flawed.
Blockchain on the other hand has the potential to push drastic changes on how Wall Street operates. A particularly interesting aspect of Blockchain that could disrupt Wall Street is the concept of Smart Contracts. This article examines the offerings that want to leverage Blockchain to upend the existing order on Wall Street.