Seems that the recent debate regarding the implementation of the blockchain ledger by global banks may be near its end. San Francisco based enterprise blockchain platform, Chain Inc., raised $30m in Series B funding, by investors such as Citi Ventures, Capital One, Nasdaq and more. The company is working together with institutions to build new trading and transferring systems on top of the blockchain.
The investment is the latest sign of Wall Street’s about-face with Bitcoin, which banks and other financial firms initially said was unlikely to transform commerce. These financial companies don’t have any interest in using the actual currency. But they see the “blockchain” technology that lets Bitcoin users instantaneously make and record transactions as a potential replacement for what they say is a cumbersome, costly and less-secure process.