State Street, a major financial institution with $36 billion in assets, is exploring blockchain technology to overhaul legacy finance systems. According to reports, the company's CEO, Ronald O’Hanley, stated that the focus is not on Bitcoin, but on leveraging blockchain to reengineer traditional assets for enhanced speed and efficiency. The development signals a growing interest among established financial players in utilizing blockchain to modernize existing infrastructure. The move could potentially streamline processes and improve the overall efficiency of traditional financial operations.

State Street, a major financial institution with $36 billion in assets, is exploring blockchain technology to overhaul legacy finance systems. According to reports, the company's CEO, Ronald O’Hanley, stated that the focus is not on Bitcoin, but on leveraging blockchain to reengineer traditional assets for enhanced speed and efficiency. The development signals a growing interest among established financial players in utilizing blockchain to modernize existing infrastructure. The move could potentially streamline processes and improve the overall efficiency of traditional financial operations.