Bitcoin Forum

Bain Blockchain Report: ‘Wait-and-See Approach’ Wrong for Banks

The firm, which filed a report on banks’ responses to blockchain last week, said that while banks face “hard choices,” adopting a “wait and see” approach leaves institutions “flat-footed.”

“The innovation genie has popped out of the bottle and doing nothing no longer is a viable option,” the report says.

Bain (Bain.com) points to Santander’s collaboration with Ripple as an example of progress beyond the current trends in traditional finance, which could prove to be a real advantage in the future. Ripple recently partnered with Canadian bank ATB Financial as well, sending the world’s first international, interbank blockchain payment to Germany.

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