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

Swiss Securities Dealer Face Charges and Settlement on the Same Day

Viena Abdon

Ethereum Developer Reveals Approved Funding for ProgPoW

Viena Abdon

Owner of World’s Tallest Building Plans to ICO

Viena Abdon

Bitcoin Slips Under $8K Once More While Top Altcoins Experience Mild Losses

Viena Abdon

AntShares, now NEO, Rises to Top 10 Cryptocurrency

Hootie

Facebook Looking To Venture Capital To Fund $1 Billion Crypto Currency Project

Viena Abdon

Leave a Comment