Nobody Puts Blockchain In A Corner: The Disruptive Role Of Blockchain Technology In The Financial Services Industry And Current Regulatory Issues
Recall the old VISA commercials portraying a modern consumer’s synchronized and effortless credit card transactions undermined by the one Luddite with the audacity to bring the marketplace to a grinding halt by presenting cash (or worse, a check).2 By visualizing faster and more efficient payments, consumers would transition to credit cards for their convenience, not because it was a safer or more secure option. Rather than emphasize the credit card itself, VISA’s viscerally engaging and forward-looking advertisement allowed consumers to imagine heightened human experiences made possible because of technology. Fast-forwarding to our modern brave new world, our financial ecosystem and definition of “trust” 3 have rapidly changed.