|
Title: [2016-09-05] MIT Report: Blockchain for Banks - New Era or Lipstick on Pig? Post by: Karartma1 on September 06, 2016, 09:39:33 AM This is a must read! ;)
Could rapid innovation in the fintech space lead to the end of banks as we know them? A recent report from Massachusetts Institute of Technology (MIT) titled Digital Banking Manifesto: The End of Banks explores these possibilities. As Mark Mullen, the Chief Executive of Atom, said in 2015: Quote “Banks are trying to be cool and hip and build super cool digital front ends. But it’s like putting lipstick on a pig - ultimately it’s still a pig and the new front end is still running into an awful digital back end." Read more here https://cointelegraph.com/news/mit-report-blockchain-for-banks-new-era-or-lipstick-on-pig Title: Re: [2016-09-05] MIT Report: Blockchain for Banks - New Era or Lipstick on Pig? Post by: panju1 on September 06, 2016, 04:05:24 PM Banks are the dinosaurs of our times.
They have a very cozy relationship with regulators and have kept out competition so far. But as Jamie Dimon said long ago... "Silicon Valley is coming... " ;D Title: Re: [2016-09-05] MIT Report: Blockchain for Banks - New Era or Lipstick on Pig? Post by: pitham1 on September 07, 2016, 04:39:59 PM Definitely lipstick on pig.
Banks are trying to do just enough to stay relevant in today's world. The banking world is ripe for disruption. |