Leading representatives of the financial industry invested $ 30 million in the company called Chain, which works with banks and other financial institutions, creating the infrastructure for the organization of trade and transfer of digital assets, using basic technology Bitcoin, called chain blocks or blockchain. And finally Wall Street continues to bet on a technology that until recently was considered just another fad.
The list of investors includes such financial giants like Visa, NASDAQ, venture capital division of Citigroup - Citi Ventures, Bank Capital One, a leading provider of financial technology Fiserv, as well as the phone operator Orange, which previously reported plans to invest in startups connected with cryptocurrency. Representatives of the Chain do not reveal how much the company is worth now, but we can remember that they received startup investments in the amount of $ 13.7 million.
Once again it emphasizes that Wall Street is changing its attitude to Bitcoin, which at the beginning, according to banks and other financial institutions, had no chance to change something in today's world of commerce. At the same time, all these financial companies are not interested in bitcoin itself or any other cryptocurrency as such. They are attracted by the blockchain technology, allowing bitcoin owners instantly and safely perform and record financial transactions, and they see it as one of the options that will replace the current process, which, according to them, is too complicated, costly and much worse in terms of safety and reliability. Any financial transaction, either trading stocks or foreign currencies, banks deal with many intermediary firms responsible for checking and execution of various processes.
As we know, correct crypto transaction records are continuously supported by members of the network instead of a central body. Now, independent blockchains are created, that are not associated with Bitcoin. Followers and supporters claim that it allows you to transfer shares or other assets from one owner to another in the blink of an eye, unlike existing today, a process that takes up to three days and requires action in several stages by the intermediary companies.
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