Published
5 years ago on
July 16, 2018
“Like most financial institutions, BlackRock has a working group that meets periodically to exchange information on blockchain and consists of employees from various parts of the business. We have been looking at blockchain technology for several years, recognising potential for shared processes and data across market participants, clearing, settlement and reconciliation and simplified securities issuance.â€You can see the full report for yourself, here. With Fink heading BlackRock, we can only assume that he has indeed changed his tune and is becoming more open to cryptocurrency as a result of the promise provided by blockchain technology. Now we must consider that BlackRock are a huge asset management firm, as a matter of fact, they are in a perfect position to encourage institutional investment, investment that could in turn really boost the price of Bitcoin and thus, the rest of the markets. At the very least, what we have here is a firm with an awful lot of money, exploring the potential behind Bitcoin which going forward, could lead to some very big changes indeed. For now, we need to await on some official comments from Fink, though as it stands this news is not only legitimate, it’s also very exciting too. Will BlackRock be the firm that leads and institutional charge into the markets? It’ll only take one company to make the first steps, after that, the competition will follow and the markets will welcome a whole new world of investment. Â
