Blockchain, the cutting-edge technology behind virtual currencies like bitcoin, has the potential to play a disruptive role in the global finance sector, experts say, as banking behemoths seek to connect with its opportunities.
While banks could reduce their costs, the gains could eventually shift to consumers who could benefit from quicker and cheaper services.
“Any disruptive shock — be it technology, economic or political — tends to result in winners and losers, and blockchain is no different,” Colin Ellis, managing director for credit strategy at Moody’s, told AFP.
