5 Reasons why the “internet of money” will crush centralized finance

The idea of a fully decentralized financial system still sounds like a utopia. Or maybe not anymore, according to Spain’s second largest bank, BBVA. The institution seems to be ready to embrace financial disruption and believes that “the current system where financial institutions record individuals’ accounts in a centralized fashion and the banks’ reserves are stored by the central bank” could be replaced by “a fully decentralized financial system.” The Spanish bank, result of a merge between Banco Bilbao Vizcaya and Argentaria in 1999, released a report titled Blockchain Technology: The Ultimate Disruption in the Financial System, analyzing the creation…Read more …