The efficiencies in a blockchain run deep and we should easily see its appeal to the traditional financial institutions and systems. "Watch what they do and ignore what they say" is the motto here because there can be no doubt the banks are investing heavily in blockchain, or have plans to, despite what they tell us. Observations illustrate that beyond the benefits of massive crypto price increases and blockchain startup business opportunities, the growing crypto industry also demonstrates great manpower efficiency gains over traditional financial systems. More for less is the equation, and that is a formula the banks know well.
Blockdata research tells us that 55 out of the top 100 banks have exposure to Crypto & Blockchain company investments, either directly or through subsidiaries. Barclays, Citigroup, Goldman Sachs, and JPMorgan are among the top names with exposure on the list. Though the focus for many of the banks is on crypto custodial services, it is part of a greater trend of investment in the crypto & blockchain startup business sector. Blockchain startup investment volumes are already 2 x this year over 2020.
For the banks, the top points of interest in blockchain and crypto are obviously its adoption and demand acceleration, the resulting soaring profits for blockchain interested startups, & regulatory advancements. All clear signs of industry growth. Another key takeaway being noted through observation of the big crypto exchanges is that the manpower factor in producing such returns is a fraction of the traditional approach of banks. The whole formula looking very appealing to everyone in the know.
Cryptocurrency and blockchain technologies continue to reveal opportunities through efficiency & growth. Banks, like everyone else, will not ignore blockchain&39s obvious growth in demand, and platform improvements on yesterday&39s systems. The Bank&39s participation in crypto is guaranteed to follow the demand of their customers, helping to evolve their business models and efficiencies.