Finance and banking has seen its fair share of innovation over the centuries, and Bitcoin and its blockchain technology are already making a new chapter in this history. To get a better sense of how the industry views this innovation, I interviewed the head of Technology Risk for the Wealth Investment Management portion of Wells Fargo Bank, Jimmie Lenz.
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A Bank Insider Speaks
Besides just being an interesting guy to have a drink with and chat philosophy, Jimmie’s background and experiences give him the unique perspective of how senior leadership in banking and financial institutions view Bitcoin and blockchain technology. He has been at the forefront of some of the biggest innovations in finance over the last few decades, and is no stranger to thinking in deep ways on how to make fintech useful.
Despite there being some big players talking about blockchain these days, from central banks, to investment banks, to consulting firms setting up their own blockchain teams, the innovations that make a difference will likely come from customer preferences.
Like a lot of other things in finance,