Wall Street companies plan to implement technology Blockchain is their business models
These actions aimed at improving the internal functioning of companies could have a favorable impact on adoption towards new technologies, while at the same time could lead to an increase in the value of associated digital coins.
A large number of major Wall Street companies are looking to increase their operating margin exponentially, so they have planned to experiment with Blockchain technology by 2018, which could mean that many millions of dollars are allocated to institutional funds that could be moving through the cryptographic space in the coming months.
One of the most notable companies within this trade is the New York-based Depository Trust and Clearing Corporation (DTCC), which dominates the credit exchange market in the United States, and processes more than 11 billion dollars dollars in transactions per year.
DTCC announced that it was looking for mechanisms to make changes in its databases used for transactions, trying to incorporate block technology to have its own distributed distributed ledger network available for the second half of 2018.
This move by DTCC has been highly anticipated by Blockchain technology enthusiasts and exchange service operators around the world as it would open the doors for a massive adoption of the benefits of the underlying technology of currencies digital images.
Meanwhile, IBM, which also operates on Wall Street, is helping companies like DTCC build the infrastructure needed to run their operations with the support of Blockchain technology.
The electronics giant has also partnered with the Axoni company to create a network of exchanges, which would be built on the basis of smart contracts and could eventually be used by DTCC to manage its activities. It is expected that when the network is in operation, all operations carried out by the credit company can be carried through a private Blockchain specially conditioned for the company.
The joint work between IBM and Axioni could generate a major wave on Wall Street, which would be characterized by a growing adoption of Blockchain technology by industry participants, and understanding how markets work, when a company takes a step which significantly improves their profit margins, others will not want to stay behind and will surely follow suit.
For its part, Microsoft has also considered Ethereum as a business-grade cryptoneon, and therefore, the company is making the respective moves to include it in the most relevant way possible within its operations model, which could eventually cause many companies that make their living on Wall Street favor innovations for Blockchain technology and the incorporation of digital currencies.
Examples such as these will probably represent an important experience to consider for all those companies that think of possible use cases for the underlying technology of digital currencies, which, when adopted in a more emblematic way, would also bring many benefits to the associated cryptomonedas such as Bitcoin or Ethereum,
It is estimated that if a project like the DTCC is successful, it could have a very positive impact on Bitcoin's prices, reaching values ??above US $ 7,000 by the end of 2018.
Source: Cryptoanalyst.co
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