[2016-06-07] CT: The $1.7 Trillion Reason Banks Prefer Blockchain or Distributed

[CoinTelegraph UK]

Banks know Blockchain is a threat to the linchpin of their economics: the customer relationship, and the $1.7 trillion they made in 2014 from global payments revenue which is a massive 40% of their annual profits.

Historically the banking industry has provided three main services: financing, investment and transactions. And now they seem to dismiss Bitcoin publicly and highlight the distributed ledger or Blockchain.

http://cointelegraph.com/news/the-17-trillion-reason-banks-prefer-blockchain-or-distributed-ledger-over-bitcoin