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Wall Street Will Inevitably Take on Ethereum

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February 12, 2018 | 

666 Views | 

Joanna Newman | 

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Financial expert, Vincent Launay from the World Bank, recently gave his predictions about the major changes brought on by Ethereum to the financial system. In particular, he explains why big banks do not have any other choice but to eventually adopt the cryptocurrency.

In terms of market capitalization, Ethereum comes in at number 2 on the list. Its exchange platform is open source and is the most used of all the “newer” cryptocurrencies. There are about 475 cryptocurrencies available on their platform, as opposed to 580 cryptocurrencies used by their competitors. Ethereum’s success is mainly due to its integration of smart contracts. These contracts allow companies to carry out ICOs and other fundraising campaigns.



Launay said, “Linking capital managers with companies and governments that are wanting to issue bonds has long been a lucrative business for Wall Street. And, now we are at a point where it is no longer possible to do so without them”

By removing all other intermediaries and providing capital for startup companies, Ethereum makes investment banks obsolete. They may not feel it quite yet, but venture capital funding companies already do and it’s not uncommon to see them as part of pre-ICO campaigns.

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