Alfonso-Gómez-themetaeconomist

Traditional banking calls to the crypto world

26 November 2022

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Can blockchain technology be a catalyst to create value in finance 2.0? One of the most important task of transition to digital finance 2.0 is that it has to be applied with all appropriate safeguards. To build a more advanced society in economic and social terms the great challenge is to advance as fast as the industry does and transfer this knowledge to a range of different departments across the bank, from technological and operational development to the legal and risk teams, in order to work in the same direction and with a clear vision at the service of customers. New business models are continuously emerging and operating with automatic liquidity for their assets, which are often distributed globally. This new space should be able to positively impact society and improve the coverage of our needs, thereby increasing the productivity and security of the system.

Let's try to ask our question with the recent words by Alfonso Gómez, CEO of BBVA Switzerland Gómez spoke at the Fifth Blockchain and Digital Asset Forum hosted by online publication El Confidencial and he stresses that "as a bank, our role as depositary and custodian of digital assets is the cornerstone of trust in this system. Our mission should mean playing an absolutely critical role in providing our customers with an assured source of liquidity that ensures fully fledged convergence between a traditional and digital world, now and in the future." He also points out that "we believe in blockchain technology as a source of liquidity and efficiency in the system. When digital assets are divisible, it generates a democratization not only in terms of access to technology, but also as a form of access to a fairer society."

SOURCE: https://www.bbva.com/en/traditional-banking-in-the-crypto-world-a-pathway-to-enhanced-trust/

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