We are hearing buzzwords like, "real-time payment methods" and
"War on Cash" from people in the financial industry.
McKinsey research forecasted back in 2014 that more than 50% of
incremental revenue in almost all banking products in Western Europe
will be digital
by 2018. When we look at the trend, it looks like this is becoming a
reality.
Bitcoin might not replace these financial institutions, but they will
force them to change!
But financial institutions will never be decentralized no matter how much they change.
They will not have control they want to have with decentralized system, they will try to keep what they have now. People are sick from this, and in far future decentralized system will be more popular in my opinion.
I agree that blockchain changed the way people look at monetary system. We need this change and financial institutions are trying to fight with it but I think this is the battle they will lose in long run. There will be coins centralized coins like ripple, but I think people will have opportunity to choose what to use and we must choose decentralized system as primary one, other can be complementary to that primary.