---
title: "Wall Street Moves to Adopt Blockchain Tech by 2018"
description: "The DTCC announced it will replace one of its central databases with a distributed ledger similar to Bitcoin's blockchain, with plans to have it fully functional by early 2018. Wall Street's transition to blockchain is a testament to the perceived value of the technology, which allows for faster and more secure financial transactions."
date: "2017-01-11"
modified: "2017-01-11"
authors:
  - name: "Dom Galeon"
    link: "https://futurism.com/authors/domgaleon"
url: "https://futurism.com/wall-street-moves-to-adopt-blockchain-tech-by-2018"
categories:
  - "Blockchain"
  - "Future Society"
tags:
  - "blockchain"
  - "cryptocurrency"
  - "distributed ledger"
  - "wall street"
---

# Wall Street Moves to Adopt Blockchain Tech by 2018

![](<https://futurism.com/wp-content/uploads/2017/01/WallStreet_Clearinghouse_to_Adopt_Bitcoin_Technology.jpg>)
*\<em\>Image: \<a href="http://www.shutterstock.com/pic-503582/stock-photo-street-sign-from-wall-street-in-new-york.html?utm_campaign=Idee%20Inc.&irgwc=1&utm_medium=Affiliate&utm_source=77643&tpl=77643-108110" target="\_blank"\>Karen Struthers/ Shutterstock\</a\>\</em\>*

Wall Street is finally ready to bet big on blockchain technology. Many of [the world's largest banks](<https://futurism.com/?s=Santander>) have already moved a sizable segment of their financial infrastructure onto blockchains, and now Wall Street is following suit, according to Monday's announcement by the [Depository Trust and Clearing Corporation (DTCC)](<http://www.dtcc.com/>), which serves as the backend for a significant portion of Wall Street trading.

The DTCC said that it's replacing one of its central databases with a distributed ledger similar to [Bitcoin's](<https://futurism.com/?s=bitcoin>) blockchain. This ledger will be powered by [IBM](<http://www.ibm.com/blockchain/>) together with financial blockchain startups [Axoni](<https://axoni.com/>) and [R3](<http://www.r3cev.com/>). It will allow multiple financial institutions to view and update transactions at the same time. The DTCC aims to have it fully functional by early 2018.

![Credits: IBM](<https://futurism.com/wp-content/uploads/2017/01/blockchain_after.png>)
*Credits: *IBM**

[Blockchain](<https://futurism.com/?s=blockchain>) has been deemed attractive not because of the digital tokens that use it, which are often volatile, but because of the technology's decentralized nature. A blockchain serves as a global financial ledger that records all transactions and is maintained and updated by thousands of computers acting as a network from all over the world. This structure allows for faster and more secure transactions.

“This is a real tangible step into what could be a very different future for Wall Street,” said DTCC chief executive [Michael C. Bodson in an interview with *the New York Times*](<https://www.nytimes.com/2017/01/09/business/dealbook/wall-street-clearing-house-to-adopt-bitcoin-technology.html?_r=1>). This decision by one of the world's financial centers to transition to blockchain is a true testament to the perceived value of the technology.

### Author social links  
[LinkedIn](<https://www.linkedin.com/in/dominic-john-galeon-9b086925/>)  
[Twitter](<https://x.com/domgaleon>)