Blockchain won’t kill banks: Bitcoin pioneer

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Blockchain – a record that underpins a cryptocurrency bitcoin – is doubtful to kill banks notwithstanding warnings from tip attention executives, a chair of a bitcoin non-profit classification told CNBC on Monday.

Last week, Andrey Sharov, a clamp boss during Russia’s Sberbank, pronounced banks would disappear by 2026 due to a rising use of blockchain technology.

“In 10 years, there will be no banks, I’m afraid,” according to a interpretation of Sharov’s comments by a Coinfox bitcoin news website.

But Brock Pierce, a authority of a Bitcoin Foundation, pronounced that while a adoption of blockchain will strike tools of a bank, it will eventually emanate opportunity.

“There are certain aspects of their business that are going to be negatively impacted, though there are also going to be other business units that are going to be definitely impacted and new business units that get combined that competence not even exist today,” Pierce told CNBC in an talk on Monday.

“And a tools of a attention that are being many negatively impacted are a ones where a bank is not providing most in a approach of value, where they

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