Blockchain Will Underpin the Financial Industry in Five Years

CNBC, Carlos Torres Vila and Ralph Hamers | June 4, 2018

Fascinating to see crossborder M&A in European banking back on center stage: BBVA from CNBC.

“We believe there is huge promise in blockchain,” said Carlos Torres Vila, CEO of BBVA. “It is early times in this technology but it can bring about more efficient processes. It brings trust and relationships that wasn’t possible before.”

Apple, Facebook and other big tech can be a threat — or a partner: ING CEO from CNBC.

“So, if you look at blockchain… I think the banks are really working on this now because the potential is so huge and if the top five, six global banks would put their minds to it and agree on a standard, you could force (that) standard onto the globe,” Ralph Hamers, CEO of ING Group.