Blockchain is set to help the finance industry by increasing efficiencies and reducing costs. But companies need to jump on the blockchain bandwagon fast.

"Visa (V) and MasterCard (MA) are right now adopting blockchain into their businesses," said Eric Ervin, CEO of Reality Shares. "However, it could be the Barnes & Noble scenario where they had an online site but they didn't really embrace online retail and they got beat."

Ervin was a guest on TheStreet's Investing in Cryptocurrencies webcast featuring top blockchain and cryptocurrency authorities. Click Here for an Instant Replay!

Reality Shares is out with a new exchange traded fund that covers companies, including Visa and MasterCard, investing in blockchain technology. The fund is the Reality Shares Nasdaq NexGen Economy ETF (BLCN) .

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