Westpac Chief Hails Bitcoin as “Potentially Disruptive” Technology


The chief of one of the leading Australian banks recently called Bitcoin a “potentially disruptive” technology.

Brian Hartzer, who took over as the CEO of Westpac Group in February, believes that the digital currency technologies could possibly disrupt the traditional banking systems in the long term. He acknowledged the endless possibilities blockchain — Bitcoin’s underlying technology — could offer to revolutionize the financial services but, at the same time, expressed concerns over the “limitations and challenges” with it.

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“The development of the blockchain [will] certainly [have] a very interesting and potentially disruptive impact on financial services,” Hartzer told the Australian Financial Review.

“But nobody really knows yet where it is going to go to [and] there are a number of limitations and challenges with it.”

He added: These include limits on the number

Read more ... source: TheBitcoinNews