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by xadhominemx
3128 days ago
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Even if blockchains/cryptocurrencies replace fiat currencies and ICOs replace IPOs on a stock exchange, little about Wall Street does will actually change. Securitizing and aggregating securities into portfolios, lending, marketing and pricing securities, advising issuing entities, etc., the things investment bankers occupy themselves with every day, do not go away because of cryptocurrencies and ICOs. |
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Pardon me, I was being facetious. We agree. I was responding to a comment claiming investment banks "are clearly threatened by the ICO boom" [1]. Wall Street is more likely to coöpt, as opposed to be replaced by, blockchains.
[1] https://news.ycombinator.com/item?id=15790978