Within the framework of the Banking Convention, Juan Redondo, Associate Partner of Bain & Company said that the growth and consolidation of the crypto asset market and web 3.0 will have a significant effect on the business model of banks.
(NFT assets, the trend that catches artists).
“With the current state of the crypto assets space in Colombia and around the world, today we are clear that the demand is not only growing, but will profoundly transform the way people make payments, invest their money, safeguard assets, obtain credit and will seek profitability” he explained.
By 2030 these innovations in the structure of the financial system enabled by Blockchain technology, will allow easy access to a diversified portfolio of digital assets, executing free transactions in real time, without geographical limitations and crucially, the settlement of transactions in different tokens without the need for redemption.
(Cryptocurrencies: the present of this market in Colombia).
He assured that this future scenario threatens to disconnect traditional financial entities from global financial markets, disintermediating, reducing, and in the best of cases, moving to an advisory role. For Round, heeitherBanks still have a chance to escape this threat and strengthen their business “if they establish a strategic posture of digital assets and clear and specific prioritization of the offer and its use cases”.
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