[2015-10-16] Swift Payments CEO Doesn’t See Block Chain Replacing Current ...

[tyz]

Swift Payments CEO Doesn’t See Block Chain Replacing Current ‘Efficient’ Banking Systems

While Swift CEO Gottfried Leibbrandt recognizes that block chain innovation is below to stay, he believes several of the current fintech being discussed is “buzz” and keeps in mind that blockchains in the personal round are much more substantial than it reaching change existing industrial financial systems. Talking to the Financial Times, global repayments network Swift Chief Executive Officer thinks there to be an underlying “buzz” when it comes fintech as well as claims that the present economic market ought to be more worried regarding the present state of cybersecurity instead of disruptive modern technology.

https://www.cryptocoinsnews.com/swift-payments-ceo-doesnt-see-blockchain-replacing-current-efficient-banking-systems/

[TraderTimm]

The Swift CEO is paid to not believe blockchain tech will replace his core business. That isn't surprising, but he is showing a rather large achilles heel by not at least acknowledging the achievements of a global ledger. I suppose when his payment network traffic starts to dwindle, he'll care, but in classic "Blockbuster Video" fashion - it will be too late to avoid being eaten alive by the blockchain/netflix phenomenon, if you'll allow such a loose analogy.