Who do you think is more disruptive? Uber and Airbnb or the banking industry?
If you’re like the vast majority of people you probably answered Uber and Airbnb. However, this would be incorrect.
A closer look into bank innovation reveals a history of ground breaking innovations that have far exceeded the contributions of these companies.
Banks have contributed enormously to the growth of the world’s economy since the creation of the first bank in Italy in the middle ages. What’s more, the banking industry is once again rising to the forefront of innovation today.
Just like Google and Amazon led the digital Internet wave in the 1990s and early 2000s, banks today are leading a corporate wave in blockchain, an equally revolutionary technology, to charge forward into a new era of financial services and drive deep innovations in the global economy. After an extended period of hibernation from the late 1970s to 2008, a revitalized banking industry is striking back and returning to a proud tradition of disruptive innovation.
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