Big Banks Potentially See Blockchain as a Long Term Solution

Citigroup Chief Executive Mike Corbat sat down with the FT in a wide ranging interview that discussed a variety of pressing topics including what the bank thinks about blockchain technology; he explained how the early expectations were unreasonable and that the bank sees potential in the technology over the long term; this aligns with many other big banks who are beginning to test the technology but are not yet running to overhaul their current systems; the biggest beneficiary of the technology is in supply chain finance, which is still done with notebooks, pens and paper according to Corbat; the hype is certainly gone but the market still sees an opportunity and that is evident by the continues investment into potential solutions by financial services companies. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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