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Finance Companies That Don’t Embrace Blockchain Will “End Up Losing,” Claims Former Monero Exec

Chinese Smart Courts Use Emerging Technologies like AI and Blockchain
Chinese Smart Courts Use Emerging Technologies like AI and Blockchain

It’s common knowledge that industries need to evolve if they want to remain competent. Otherwise, the top businesses in each industry will eventually be taken over by the ones who take advantage of newer technologies. This is often discussed in the world of blockchain and cryptocurrency, and it’s why we’re seeing big companies like Facebook get involved in the space, for better or worse.

Fortunately, it doesn’t seem like blockchain is lost on many within the finance space. According to a report from CoinTelegraph, those attending the World Economic Forum (WEF) in Davos, Switzerland, are commenting on this very matter.

One commenter they report on is Riccardo Spagni, the once lead maintainer at privacy coin Monero. Essentially, he says that events like these show that “old school” policies and companies that focus on those policies will eventually “end up losing” and that “new finance” will soon “replace old finance.”

Of course, one could argue this in pretty much any industry, though one such as technology moves incredibly fast in comparison to many others, which is why it’s so vital here. In fact, recently, LinkedIn released a report of 2020’s “hard skills” that companies are looking for. Blockchain was the number one skill. Who knows where that will lead developers over the next few years.

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