Re: The future of banking industry in blockchain

Quote from: Fappanu on November 07, 2019, 02:56:00 PM

Quote from: btc_love on September 11, 2019, 03:55:19 PM

Hey.
Yesterday I read an article about banks that began to use blockchain and there was pretty impressive list.
They're also described successful cases of using blockchain in banks (if you're interested - here's the article), so I may assume that using blockchain in bank's system is only a matter of time (and money, of course).

Now, the question: why it takes THAT long the smaller banks to go the same way and start using the blockchain?

Small banks will find it difficult to keep up with the big ones, but I'm sure they will follow the wave and also make way for them to progress. Because if they do not keep up with the wave the big banks may now be able to cover them and this may even cause small banks to collapse and close.

It is not because small banks find it too difficult for them to keep up with the highly named banks, they are just being careful with the emerging capabilities of cryptocurrency. Just take a look at Silvergate Bank and Metropolitan bank, they could have taken the use of cryptocurrency first or even did what the JP morgan does to its system, but what they did is wait the bigger one to have a less effect on them whenever it stumbles. You're right, small banks are easy to collapse with careless move knowing they have huge walls on their environment.