Banks will Likely Remain at Helm of Blockchain Finance Evolution says Mark Smith, chief executive of Symbiont.io

31

Share with:


Banks will likely remain in charge of Blockchain finance evolution says Mark Smith, chief executive of Symbiont.io, adding that his company is not just disrupting but also enabling.

That’s according to news from Reuters covering their own event called The Future of Money: Cashing Out on Cash held in NYC on November 12, 2015.

“Regulation keeps them in place. Regulation requires them to perform certain functions,” said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin.

Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities.

“A massive amount of infrastructure just goes away,” said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services.

Read full article at Reuters here. 

Richard Kastelein

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

Visit Website
View All Articles
Buy Bitcoin at CEX.IO

Get Blockchain News Where You Are!

Join our Linked in GroupLike our Facebook Page
Linkedin Group BlockchainLinkedin Facebook Group