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!
I do not think that by the end of this year such a forecast that half of the profits in the banking system will be due to the crypto currency will come true. Until now, banks are very resistant to the introduction of crypto currency into our lives and do not abhor various provocations and the organization of counterfeit negative news about the crypto currency, so long as citizens do not take an interest in it and do not use it.
In order for banks to actively use the crypto currency, it is necessary that it be legalized in each country by state authorities and that banks receive the appropriate written instructions on the use of crypto currency.