The relationship between Wall Street and Blockchain Technology continues to be on a weak level. Banks and major financial institutions have declared for and against the era-changing technology while some Banks like in America are reaching for patents.
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
But, with ZK-Snark or Zero knowledge proofs just now given the green card to run on the Ethereum blockchain network after the Byzantium Upgrade presents a date when anonymity and immutability are existing on the same chain:
“Its ability to reshape vital financial market functions like clearing and settlement has always hinged on whether banks can keep customer and proprietary data secret. Zero-knowledge proofs, a theoretical possibility for decades, are now a reality, letting transactions be verified without the need to share any of the underlying data.” – Stated on Bloomberg
The same Upgrade was a step for Monero or Zcash to take popularity for themselves. It is the first phase of the Metropolis improvement so lets see how it will turn out for Ethereum and what many need to know – its token price.