I think that blockchain startups are a serious threat to the entire financial services industry. At the moment, they are comfortable and earning way too much money with doing things as they have always done. They could afford to do that because innovative startups always had a huge disadvantage: lack of capital. Well, that problem is solved now.

I've worked with banks and have consulted them on innovation, they tend to be very conservative. Many might be too slow too react once blockchain startups and their solutions have reached the mass market.