I like your example of digital photography. Another great example is what happened with Blockbuster and Netflix. Use cases for which industries will be disrupted by blockchain is well documented. How companies in those industries respond has yet to be determined. I work in financial markets and financial services which is primed for major disruption.
You are viewing a single comment's thread from:
In 10 years the the legacy banking industry will look the same as film to digital cameras. Some banks will evolve into "Blockchain Apps" but most will fail. In blockchain there's no middle man and no need for "trusted 3rd party institutions such as banks. This will be interesting :-)
I believe the big banks will adapt and survive. Most of the near term benefits speak to cost reduction for firms. One big winner in this space will be the firm that can attract and retain the 2 billion unbanked looking to use crypto for daily expenditures.
I agree in the short term but long term the barriers to entry are likely to drop down significantly and allow smaller more flexible Fintech companies to come in.