Wall Street survey shows support for Bitcoin

A recent survey by Wall Street shows that blockchain technology is developing rapidly. The underlying technology, which represents the public ledger of bitcoin transactions, has been applied to data storage and security.

According to a Greenwich Associates survey, 94% of respondents said that blockchain technology can also be used in the financial industry. The technology can speed up trade decisions and simplify stock processes.

Application of blockchain technology in the financial industry

According to Santander's paper, blockchain technology can also save the banking industry 40 million in costs. Some startups are already looking for ways to use blockchain technology for transactions. Greenwich Associates surveyed 102 bank executives, asset management companies, and financial technology companies, and 84% of the respondents said that blockchain can reduce the time and risk of transactions. "This is not because Bitcoin itself has the potential to change the capital market. Blockchain technology allows Bitcoin to circulate. It gives financial services companies more opportunities." Greenwich Associates concluded.