Will Big Banks Make Or Break Bitcoin?
Kelly Tyler, Chief Commercial Officer at A7 Core, which is raising capital via an ICO to move coupons to a blockchain, agrees that banks cannot stop Bitcoin. “Change is coming,” says Tyler. “The sooner banks adapt and adopt some form of blockchain technology the more relevant they will remain.”
Reginald Ringgold ,Founder of BlockVest DEX, sees Bitcoin helping big banks to expand their businesses. “Bitcoin has established partnerships with fintech firms to develop the applications of blockchains in capital markets,” says Ringgold. “Blockchains, used in conjunction with self-executing smart contracts, present particularly compelling opportunities in derivatives markets, which are typically beset by numerous intermediaries such as the NYSE or the CME.“
That could explain why big banks have been warming up to Bitcoin and other major cryptocurrencies, as discussed in a previous piece here.