Wall Street continues to have a tenuous relationship with Blockchain technology. Large banks have recently made statements both for and against the new technology, with some companies like Bank of America already pursuing patents.

Problem with privacy

Part of the struggle these financial platforms are having with Blockchain technology is the issue of privacy. The key issue for traders is to keep their positions a secret in order to keep other traders and competitors out of the loop. While Blockchain technology provides immutability, it does not provide complete security or anonymity - keys for enterprise level financial adoption.

However, the ZK-Snark, or Zero Knowledge proofs recently being enabled on the Ethereum blockchain following the network’s Byzantium upgrade, represent a new way to have both anonymity and immutability on a single chain. According to Bloomberg: