Wall Street insiders hopeful about new banking infrastructure built on blockchain
Large financial companies, including JPMorgan Chase & Co., HSBC Holdings Plc, and Franklin Templeton, are moving to new systems built on the blockchain . Sandy Kaul, Chief Executive of wealth management firm Franklin Templeton, recently highlighted the transformative impact of blockchain technology on the global financial system, marking its most significant overhaul since the 1970s. This development, according to Kaul in an interview with Bloomberg, has opened the path for reengineering the financial markets on a global scale. Representatives from financial institutions are also noting a surge in the adoption of decentralized technologies, with Kaul emphasizing the rapid acceleration in technology adoption. “For the first time, you can see the pathway to us reengineering the global financial markets ecosystem.” Sandy Kaul, chief executive of Franklin Templeton The Wall Street giant’s latest blockchain initiative include JPMorgan’s first decentralized fi...