30 Jun '17, 8pm

Former Barclays Chief Believes Blockchain and Cryptocurrencies Could Make Banks Irrelevant

Former Barclays chief executive and current UK shadow chair of the Institute for Apprenticeships, Antony Jenkins has warned that banks may become antiquated and irrelevant should they fail to embrace contemporary fintech solutions in a recent interview with CNBC. Also Read: Barclays Want UK Government to Regulate Bitcoin Mr. Jenkins Suggested That Emerging Financial Technologies Pose an Existential Challenge to Traditional Banks Antony Jenkins warned that banks may become subject to creative destruction should they fail to embrace cryptocurrency technology. In a recent interview with CNBC , Mr. Jenkins suggested that adopting distributed ledger technologies could produce efficiency savings of between $80-$110 billion, and allow traditional financial institutions to be competitive with bitcoin and other emerging financial technologies. “We’re really at the end of the beginn...

Full article: https://news.bitcoin.com/former-barclays-chief-executive-...

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