Ethereum is welcoming a significant project that could fundamentally change the way Wall Street operates. Etherealize, a company supported by Ethereum co-founder Vitalik Buterin, recently secured $40 million in startup funding from well-known investment firms such as Electric Capital and Paradigm.

The goals of Etherealize are quite ambitious: to leverage the technological advantages of Ethereum to reconstruct Wall Street's financial system. It is well known that the current Wall Street financial system processes trillions of dollars in transactions every day, yet many businesses still rely on outdated systems developed decades ago. This has led to inefficiencies, such as mortgage and bond transactions taking days to settle. Additionally, the presence of numerous intermediaries not only increases transaction costs but also occupies a significant amount of capital, which may even exacerbate systemic risks.

For top global banks and asset management companies, choosing the right technological infrastructure is crucial; otherwise, they may be plagued by inefficiency for a long time in the future. The emergence of blockchain technology offers new possibilities for addressing these issues, but the key question is: which blockchain is best suited to transform Wall Street's financial system?

Despite criticisms of Ethereum regarding slow transaction speeds and high costs, some competitors claim to have higher transaction processing capabilities, and even some fintech giants have begun developing their own blockchain systems. However, Danny Ryan, co-founder and president of Etherealize, still firmly believes that Ethereum is the best choice. As a core architect of Ethereum's development, Ryan led the "Merge" project, which transitioned Ethereum from proof-of-work to proof-of-stake.

Ryan emphasized that the security, neutrality, and cryptographic privacy features of Ethereum make it an ideal platform for supporting the global financial system. He believes that while Wall Street does need a thorough transformation, only Ethereum has the comprehensive capability to achieve this goal.

As the Etherealize project progresses, we may witness how blockchain technology can truly change the operational model of traditional finance, bringing unprecedented efficiency and innovation to the global financial system. Whether this project, supported by key figures from Ethereum, can successfully reshape Wall Street remains to be seen.