Symbiont: The future of Bitcoin, blockchain technology and Wall Street

     Blockchain technology has gained widespread attention in the financial world, with the promise that decentralized public ledgers could change the way entire industries record or process transactions.

    Banks around the world are working to explore the application of blockchain technology through internal operations, and some visionary companies, such as Overstock, have begun experimenting with applying Bitcoin-related technologies to securities settlement.

    For Symbiont, a private security company that uses blockchain technology, blockchain technology can piece together a new future for Wall Street through "smart securities" or "smart contracts."

Blockchain technology and smart securities

According to Symbiont CEO Mark Smith, the company plans to focus primarily on the private equity market.

     He explained that many startups avoid public stock offerings and that a strong private securities market could shape the future of the financial world.

    “If you look at Uber’s Series K or Series N, going public is not as attractive as it once was,” Smith was quoted as saying. “What you can do now is move to other securities. Because we do direct equity and debt investments, we demonstrated the feasibility of doing debt on the Bitcoin blockchain and then managing it on a permissioned public ledger system.”