Citi's Chief Economist: Bitcoin a Complete Failure; Davos Elites Talk Bitcoin & Blockchain
The World Economic Forum discussion on financial services at Davos in Switzerland this week centered around popular financial technology, including Bitcoin and the blockchain.
While some of the Davos elite believed such intense focus on the emerging technology is premature, others believe the sector is swiftly growing and should be a consideration in the wake of the financial crisis which engulfed Davos discussions in prior years. Despite increased emphasis on rising payment technologies, the general feel for the global economy remained neutral to optimistic.
Quote
If you look at the amount of capital, oversight and approach to risk in the banking world today, I strongly believe that the banking system is a lot more solid than it was
said Andrea Orcel, president of UBS investment bank.Quote
Trying to get the appropriate risk-adjusted returns from banks given the state of the economy, regulation, markets, and the necessary transformation of both business models and cost structures is a challenge — and competition is rising
says Mr Orcel....
https://www.cryptocoinsnews.com/davos-elites-talk-bitcoin/