The Deloitte report, conducted mostly by banking executives, showed that the majority believe cryptocurrencies such as bitcoin and other virtual assets could replace Fiat currencies such as the US dollar in the next 5-10 years. Executives described it as a “seismic” shift, referring to the radical changes it would produce in the economy.
“We found several findings that show seismic change in the financial services sector in connection with the development of blockchain-based digital assets,” consultants at audit firm Deloitte said in October, in addition to the report found by 76% of financial experts.They believe BTC and its crypto assets could potentially replace fiat.
Up to 81 percent in the group of financial experts believe that blockchain technology has broad scalability potential and is already widespread. Moreover, 73 percent believed that organizations would lose their chance of a competitive advantage if they did not use blockchain and crypto assets. In October, 80 percent of financial experts believed their respective sectors would benefit from blockchain, digital assets and cryptocurrency solutions in the form of creating new revenue streams.
Source: Deloitte Insights
“The foundation of the banking system is fundamentally outdated, and players in the financial services sector must review and develop innovative ways to create economic growth in the future of money, “said Linda Pavchuk, global leader at digital assets, crypto and blockchain Group Deloitte. He is also Deloitte’s global leader in cloud financial services and leads the Global Cloud Financial Services Alliance’s relationship with AWS.
Crypto Rising season
Kriptorynka’s capitalization reached $ 2.1 trillion after its very long decline. In July, crypto market capitalization rose to $ 2.1 trillion in August, up from $ 1.1 trillion in just one month. Bitcoin (BTC) has finally grown, breaking the mark above $ 50,000
