Goldman Sachs says the technology “has the potential to redefine transactions” and can change “everything.” JPMorgan last month announced it was launching a trial project with the blockchain startup led by its former executive, Blythe Masters. Her company, Digital Asset Holdings, has secured funding from Goldman, Citi, ICAP, and a boatload of other financial firms. If you’re wondering what a blockchain actually is, or how its works, you’re not alone. Autonomous Research, which calls the technology a “game changer,” has released a report to answer all of your blockchain questions. The important thing to understand is that it has nothing to do with bitcoin — at least for Wall Street’s purposes. Blockchain is the technology behind bitcoin, but it has many other uses too. Wall Street wants to use blockchains to simplify the way it processes transactions. That may not sound very exciting, but if it works, it could eliminate back office jobs and costs. So it’s worth paying attention to — especially if you’re one of the thousands of people who work in bank back offices. Here’s how it works.
There is a 'game changer' technology on Wall Street and people keep confusing it with bitcoin
More of Today's Solutions
Spray-on powder developed in South Korea stops severe bleeding in just one se...
BY THE OPTIMIST DAILY EDITORIAL TEAM Stopping life-threatening bleeding often comes down to a matter of seconds. Now, scientists in South Korea may have ...
Read MoreOnly have 10 minutes? This quick burst of exercise may cut your cancer risk
BY THE OPTIMIST DAILY EDITORIAL TEAM We already know working out is good for your heart, your waistline, and your mental state. But it ...
Read MoreStudy confirms you slow degenerative aging by picking up the pace
It’s no surprise that maintaining an active lifestyle is linked to staving off age-related diseases such as heart damage, memory loss, and cognitive decline. ...
Read MoreInclusive learning through play: Lego introduces braille bricks for vision-im...
Here at The Optimist Daily, we often tout the many wonderful initiatives spearheaded by well-known Danish toymaker Lego. From its commitment to sustainable practices, its ...
Read More
