The times they are a changing.
Wall Street has gone from zero to 60 in the matter of microseconds, embracing technology from the old fashioned telephone line, to IM, to fiber optics and now microwaves in a bid to stay profitable and competitive.
Enter blockchain.
In a new report from Celent, Blockchain in the Capital Markets: A Smart, Distributed Future, the consultancy looks at use cases and implications of Blockchain 2.0 and brings clarity to a rapidly moving space across cryptocurrency, smart contracts, and distributed ledgers in the global capital markets.
The report, written by Brad Bailey, a research director with Celent’s Securities and Investments practice, discusses the threat of competitive disintermediation of capital market players and the potential power of a blockchain or distributed ledger future have Wall Street’s best and brightest considering a myriad of use cases. Major capital market participants are aligning with competitors, traditional technology providers, and Fintech disruptors to create a new vision of the issuance, trading, and operations across asset classes and geographies.
“Blockchain went from 0 to 60 in the blink of an eye, rocketing into the collective consciousness of capital market participants. 2016 is the do or die moment for use cases in our space,” said Bailey. “Market participants recognize that legacy technology and architecture must change, and that business models developed for a less restrictive regime in the capital markets must adapt.”
