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Bill Winters, CEO of Standard Chartered
, foresees a future in which nearly all global transactions are conducted on a digital blockchain ledger, he told a crowd in Hong Kong on Monday, as crypto adoption amongst mainstream banking and finance institutions grows.
“Our belief, which I think is shared by the leadership of Hong Kong, is that pretty much all transactions will settle on blockchains eventually, and that all money will be digital,” the UK-based multinational bank’s CEO said during a panel at Hong Kong FinTech Week.
“Think about what that means: a complete rewiring of the financial system,” he said, adding that experimentation is required to determine what that rewiring looks like.
