Morgan Stanley has brought blockchain back to earth, calling it a “double-edged sword” because while it helps banks reduce clutter, profits could fall or shift to new players.
In its 31-page report, “Global Insight: Blockchain in Banking: Disruptive Threat or Tool?”, the company predicts blockchain’s “widespread potential to disrupt financial intermediaries” but says there are “several misconceptions”, and identifies ten hurdles to “overcome to make blockchain a reality in banking”. (The ten hurdles are nothing new – governance, regulatory issues etc.)
