NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Credit Suisse Head: Banking Culture Hinders Blockchain Adoption – An Opportunity for Crypto?

Rick Delafont
Rick Delafont
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Blockchain, the innovative distributed data storage method backing almost all of the more than 2,000 crypto assets existing today, has been often touted as a way to drastically improve the efficiency of traditional banking. However, according to the Head of Digital Market Assets at Credit Suisse, the uptake of the technology has been slower than many might have expected due to the “culture” surrounding banking.

Decades after the internet revolutionised how we as a species share information, the current state of banking looks tragically dated in 2019. With the very real threat to traditional banking posed by crypto assets growing each year, Emmanuel Aidoo, of Credit Suisse, believes that 2019 will see an uptake of financial institutions using blockchain technology to improve their services.

Emmanuel Aidoo: Banks Not Exactly Rushing Into Blockchain

According to a report in Business Insider, Emmanuel Aidoo, the head of digital market assets at Credit Suisse, has stated it is banking culture that has so far slowed the adoption of blockchain technology in the financial industry. He said:

“What is preventing the banking industry from rushing into it? I think it’s mostly culture… I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why.”

Reading between the lines slightly, it appears that Aidoo is referencing a widespread acceptance of the status quo within banking circles. For an industry that faces direct competition from mobile bank-like services, such as Square and Venmo, as well as the rise of crypto assets like Bitcoin and Ether, not moving with the times in such a way could prove very dangerous indeed.

Naturally, banking struggles to innovate at anywhere near the same pace as the digital asset industry. Being entirely centralised, ways to increase banking efficiency must come from above. The sheer number of developers working on Bitcoin, Ethereum, and other decentralised payment platforms around the world make for potential innovation that cannot be matched by these financial institutions. This concept is illustrated in the following rather lengthy video by Bitcoin evangelist Andreas Antonopoulos:

Aidoo continued to highlight the current stagnation in the banking industry and how it risked being left being by financial innovation occurring in less traditional avenues such as crypto:

“That is really important for companies to have people who challenge themselves to ask questions about the status quo… These are people who focus on change, not change for change’s sake, but an honest reflection for why we do things — can we do things better.”

The Credit Suisse head did go on to state that he believes that 2019 will be the year that blockchain technology finally makes it into the banking industry in a big way. Already initiatives such a JPM Coin – a permissioned blockchain-based system that offers almost none of the true innovation of Bitcoin and other crypto assets – highlights that the industry is starting to explore the technology. However, very few real-world examples are actually live according to Aidoo.

Ultimately, the slow movement of the banking industry could be a massive boon for crypto. If banks continue to fall behind in terms of the service they can offer versus leading cryptocurrencies, the market will eventually render them obsolete by choosing to favouring these non-traditional value transfer services over more traditional banking ones.

 

Related Reading: Could JPM Coin Be the Negative Force Behind Ripple’s Recent Price Action?

Featured Image from Shutterstock.
Tweet123Share297ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Een top crypto analist heeft op Tradingview zijn licht laten schijnen op de Dogecoin koers. Volgens SwallowAcademy kunnen we binnenkort...

Lars Diederiksen 6 hours ago
Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets....

Sebastian Villafuerte 5 hours ago
Bitcoin

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Bitcoin has held steady around the $108,000 price level in recent days. After bouncing back from a brief pullback near...

Scott Matherson 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Christian Encila 35 minutes ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Semilore Faleti 2 hours ago
DOGE

DOGE Bulls Hold The Line At $0.15 — Is The Rally Still Alive?

Semilore Faleti 4 hours ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    11 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    18 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    22 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    22 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.