https://upvotesclub.com/the-ethereumization-of-wall-street-is-inevitable-expe-news/
I read this article, thought, I'll share. It sounhds good, but I don't think it will happen that easy, Wall Street perfectly understands the dangers it is facing in the face of cryptocurrency markets.So they will lobby for heavy regulations and even if that happens, it will be on their terms. As a matter of fact, I think that once the cryptos will be "properly regulated" you will have to get "qualified investor" status in order to trade them.
Why?
Because the government needs to protect you!
I read this article, thought, I'll share. It sounhds good, but I don't think it will happen that easy, Wall Street perfectly understands the dangers it is facing in the face of cryptocurrency markets.So they will lobby for heavy regulations and even if that happens, it will be on their terms. As a matter of fact, I think that once the cryptos will be "properly regulated" you will have to get "qualified investor" status in order to trade them.
Why?
Because the government needs to protect you!
It's a good article and pretty accurate. Ether is more of a danger to Wall Street than Bitcoin.
Most of wall street doesn't do payment processing (that's done by two monopolies, VISA and Mastercard). Wall street raises money for new ventures via Initial Public Offerings, which net Wall Street huge fees.
But why bother with an IPO, when you can do a cheap and cheerful ICO on the Ethereum network and raise the same amount of money, without the Wall Street fees?
That's the thing. Imagine, if they start doing that, how many people will lose their jobs? Half of Wall Street? They won't accept it, they'll call it a scam till the very last minute, I think. In the mean time, they will prepare their own answer - on the blockchain. But it will be their blockchain, on their terms.