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 - Get Report) and MasterCard (MA - Get Report) 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 - Get Report) .

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