Banking giant CEOs say blockchain will become global standard for banks in 5 years

Two CEOs from major global banking institutions have issued statements saying that blockchain technology will become a global standard for banks in five or six years. Ralph Hamers, CEO of ING Group, at the Money 2020 fintech conference in Amsterdam, said that banks are on their feet, developing their own solutions. He even added that it can be “forced” as the standard for global banking. Multinational Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) CEO Carlos Torres Vila said that blockchain technology holds a lot of promise, and that he thinks Hamer’s estimate of five or six years to establish the tech as a global standard is correct. BBVA has been collaborating with Spanish technology company Indra to develop the first global corporate loan project using blockchain technology.

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