Moody's Warns Banks To Keep Up As Blockchain Use Grows

Law360, London (April 16, 2018, 3:58 PM BST) -- The growth of blockchain could slash bank revenues and put traditional lenders under pressure if they fail to adapt to a changing marketplace, Moody's Investor Services said in a report on Monday that explores the impact of the technology on transfer fees.

Although the application of blockchain is still in its early days, the credit ratings agency said the technology could transform the ways banks carry out cross-border transactions by stripping out some of the steps involved. This means banks would be able to clear and settle...
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