How Blockchain Could Disrupt Wall Street!

4 Pages Posted: 9 Nov 2016 Last revised: 15 Oct 2017

Date Written: November 9, 2016

Abstract

The financial markets are not only changing internally but also externally as blockchain starts to change the infrastructure landscape. The falling fees for investment management is creating a more accountable financial industry and forcing the stock market to also question its broader role in the society. Blockchain eliminates third party. Stock Exchanges are third parties. The idea of long term stock exchange, raised by Eric Ries in “The Lean Startup” were never so relevant. The author explores the historical context of stock exchanges and why they are not ready for the impending change. The foundation stones of the stock exchange business like liquidity and price discovery are worth revisiting in the blockchain context. The exchanges should get ready for disruption in their space and beginning of evolution of the stock exchange business in possibly less than a decade.

Keywords: Blockchain, Stock Exchanges

JEL Classification: A00, A10

Suggested Citation

Pal, Mukul, How Blockchain Could Disrupt Wall Street! (November 9, 2016). Available at SSRN: https://ssrn.com/abstract=2866962 or http://dx.doi.org/10.2139/ssrn.2866962

Mukul Pal (Contact Author)

AlphaBlock ( email )

Toronto, Ontario M8Z 2H6
Canada

HOME PAGE: http://www.alphablock.org

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