American Monetary Association AMA 226 - Are Big Banks on the Verge of Extinction? with The Finanser Chris Skinner
Jason Hartman talks with Chris Skinner, chairman at Financial Services Club, about how cryptocurrencies and blockchain are changing the banking industry, what changes are going to have the most impact in the coming years, if more regulation is needed, and how blockchain is actually used in commerce today.
Chris is an expert on financial markets and fintech. He is author of Digital Bank, ValueWeb, and Digital Human.
Key Takeaways:
[1:08] Are big banks in trouble and at risk of going away at all?
[6:32] The challenge for financial institutions to deal with technology and change
[11:04] The most critical breakthrough coming in the next decade is a Digital Identity Scheme
[15:57] Do the big companies need to be regulated like utilities or be required to publish their algorithms?
[19:17] What's going on in cryptocurrencies today is equivalent to what happened with the World Wide Web in the 90s. We're trying to figure out which one will come out on top
[23:03] When will blockchain actually be used in commerce on a large scale
[29:02] How will the blockchain change how we love?
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