A new CNBC feature on July 26 highlighted that Wall Street’s view on blockchain technology remains bullish as the pressure from market dynamics and the need for innovation push the American financial system to explore blockchain technology for future growth.

.According to Tanaya Macheel of CNBC, Wall Street views blockchain as a solution to inefficiencies and time-consuming processes within the current financial system. This decentralized, transparent, and fast transaction method holds promise in a system that suffers from siloed infrastructures and slow transfers.

The CEO of Onyx at JP Morgan, Umar Farooq, shared with CNBC the belief that blockchain technology could revolutionize and rewrite financial market infrastructures. This potential for cross-platform integration and speed has …