A survey from Deloitte shows that over 1,200 executives in various sectors, including those in FSI, believe that society won’t rely on physical money within a decade. That represents 76% of those surveyed. What will replace fiat money? Blockchain and digital currencies, of course!
73% of the FSI execs have declared that a company would find itself at a competitive disadvantage if it doesn’t move on with the times and start accepting blockchain and digital assets.
Linda Pawczuk, Principal, Deloitte Consulting, and Global and U.S. Blockchain and Digital Assets Leader, declared:
“The Deloitte 2021 ‘Global Blockchain Survey’ shows that the foundation of banking has been fundamentally outlived and financial services industry players must redefine themselves and find innovative ways to create economic growth in the future of money.”
Richard Walker, Principal, Deloitte Consulting, and U.S. Financial Services Industry Blockchain Leader, added:
“As digital asset disruption rapidly changes the marketplace, global financial services are striving to reinvent themselves, creating businesses to generate new sources of revenue. Opportunities for real change in several areas of the global financial markets exist for those players that explore new ways to harness the power of blockchain technology and digital assets to reimagine their business models.”