{"id":417675,"date":"2020-03-10T19:00:55","date_gmt":"2020-03-10T19:00:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=417675"},"modified":"2020-03-10T17:29:47","modified_gmt":"2020-03-10T17:29:47","slug":"investor-ethereum-is-poised-to-replace-wall-streets-archaic-back-end","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/investor-ethereum-is-poised-to-replace-wall-streets-archaic-back-end\/","title":{"rendered":"Investor: Ethereum Is Poised To Replace Wall Street\u2019s Archaic Back End"},"content":{"rendered":"

Ethereum<\/a> has been among the frontrunners in the crypto market in terms of year-to-date performance<\/a>. The number two cryptocurrency rose over 100% at the start of the year, fueled by the rapid growth of the decentralized finance movement.<\/span><\/p>\n

The smart contract-based cryptocurrency is showing so much promise in the category, that one analyst believes that it will eventually replace Wall Street\u2019s aging backend with its neutral settlement layer.<\/span><\/p>\n

ETH Kicks Off 2020 With Strong Rally Following DeFi Milestone<\/h2>\n
Ethereum has been one of the best performing cryptocurrency assets of 2020<\/a>. And before the coronavirus outbreak and stock market collapse set the entire crypto asset class back, the largest altcoin in the space had an ROI of 100% year-to-date.<\/span><\/p>\n
But a fear-driven sell-off has pushed Ethereum prices back to yearly lows, and because a recession may be around the corner, these new assets are taking a serious beating.<\/span><\/p>\n
Related Reading | What\u2019s Really Triggering This Epic Ethereum Rally? 3 Key Factors Behind Upsurge\u00a0<\/a><\/strong><\/em><\/p>\n
However, Ethereum<\/a> may have significant long-term value that will help the cryptocurrency survive whatever is to come in the financial world.<\/span><\/p>\n
Although Ethereum is a cryptocurrency like Bitcoin<\/a>, it shares only a few similarities. Bitcoin is designed for payments, storing wealth, and transferring said wealth.<\/span><\/p>\n
Ethereum, however, is a smart-contract platform with nearly infinite potential use cases.<\/span><\/p>\n
During the crypto hype bubble, Ethereum<\/a> was used to launch initial coin offerings, helping to drive it to an all-time high price of $1,400.<\/span><\/p>\n
But once that use case dried up, Etheruem\u2019s value fell.<\/span><\/p>\n
The enormous growth in the decentralized finance movement, however, has revived interest in Etheruem, and given it its best potential use case yet: replacing Wall Street\u2019s back end.<\/span><\/p>\n

How Ethereum Could Replace Wall Street’s Aging Back End<\/h2>\n
In a groundbreaking first, a $40 million dollar bond was issued on Ethereum<\/a>\u00a0as part of a capital infusion into the Fatburger restaurant brand.<\/span><\/p>\n
Related Reading | Over 359 Companies Are Building The Future On Ethereum<\/a>\u00a0<\/strong><\/em><\/p>\n
The deal also marks the first time that investment ratings firm DBRS Morningstar has ever rated securities issued on a blockchain. These securities are \u201cdigital representations\u201d of ownership, coded via smart contracts. <\/span><\/p>\n
Not only does the blockchain digitally provide a record of all transactions, but Ethereum is also now infused into the Bloomberg Terminal<\/a> allowing anyone to look up who the company\u2019s securities holders are, and quarterly interest payments are even issued directly from the Ethereum blockchain and into a wallet.<\/span><\/p>\n
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Last week a $40m bond was issued on Ethereum<\/p>\n
$500m more in the pipeline<\/p>\n
The bonds are tokens<\/p>\n
Interest paid via stablecoin to Eth address<\/p>\n
Bloomberg terminals integrated with Ethereum<\/p>\n
Ethereum will replace Wall Street's backend w\/ its neutral settlement layer<\/p>\n
Just watch<\/p>\n
\ud83d\ude80<\/p>\n
— RYAN S\u039eAN ADAMS – rsa.eth (@RyanSAdams) March 10, 2020<\/a><\/p><\/blockquote>\n