Blockchain technology will “utterly shake up” the entire banking industry, according to ex-Barclays boss Antony Jenkins. The former chief executive of Barclays, who is now a partner at law firm DLA Piper, said that blockchain, which has been around for about two years, could be used by banks and other financial Mr Jenkins also spoke about the risk to branches and employees from the rise of online and mobile banking, as well as the dangers of “aging computer systems”.
Blockchain technology will “utterly shake up” the entire banking industry, according to ex-Barclays boss Antony Jenkins. Speaking to the Institute of Chartered Accountants in England and Wales, Mr Jenkins said the banking industry would be facing “extraordinary changes” as blockchain allows investors to “match borrowers and savers”, rendering the need for maturity transformation obsolete. Mr Jenkins also spoke about the risk to branches and employees from the rise of online and mobile banking, as well as the dangers of “aging computer systems”.