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!
We are not forcing financial institutions to change anything. They are the ones that built infrastructure for digital payments and "digital money", who gave us the opportunity to use card without the need for cash, the ones with which help we can pay for goods and services online and all other type of things. Because banks built this infrastructure we can now move our money digitally and thus it's even easier for them not to print any money but simply replace few digits along the way. But some banks are scared with crypto by disabling you to transfer between exchanges etc.