The Crypto Times
Image default
Blockchain Industry News

Former Barclay’s CEO Urges Banks to Embrace Financial Tech

Former Barclay’s CEO Antony Jenkins has warned the banking community of a coming ‘Kodak moment’ for banks and financial institutions unless they embrace the coming blockchain technology revolution.

“Now we will see the possibility not necessarily the probability of what we call a ‘Kodak moment,’ where increasingly banks become irrelevant to their customers” Jenkins said.

He went on to address how the widespread growth of cryptocurrencies and the rise of artificial intelligence are just the beginning of the change in the way banking is handled worldwide. While some might say Jenkins is biased as the founder of financial tech company 10X Banking, the rapid proliferation of banking solutions using Blockchain technology seem to indicate that he is providing useful guidance for the industry.

With growing acceptance of cryptocurrencies in Germany, Kazakstan, and many Asian countries like Vietnam, the banking industry will be forced to keep pace with the financial tech world.

“This is just in the footprints of what’s going to happen here” Jenkins said. “As these technologies season and develop, we can imagine total transformation of the banking system, using Blockchain technology for example, in a world where banks don’t really exist anymore.”

Related posts

MakerDAO Token Owners to Vote on Lowering DAI Stability Fee

Viena Abdon

DJ Khaled and Floyd Mayweather Dismissed from Crypto Fraud Case

Viena Abdon

China’s JD.Com Has More Than 200 Blockchain Patent Applications Pending

Viena Abdon

Court Rules Banco Santander to Return $350,000 to Mercado Bitcoin

Viena Abdon

Ethereum Trader Makes $200 Million in 40 Days

Hootie

Block Collider’s Borderless Unites Five Blockchains

Viena Abdon

Leave a Comment