>The obvious example is blockchain, which would be insurmountably less efficient than banks if not for the fact that banks are so bureaucratic, heavily regulate

>The obvious example is blockchain, which would be insurmountably less efficient than banks if not for the fact that banks are so bureaucratic, heavily regulated and risk averse. But if banks start losing real customers to blockchain they'll respond. Hopefully by addressing their own failings rather than having blockchain regulated out of existence, but either way the result will be for blockchain to fade after they do. That's assuming it is technically possible for them to be cheaper and faster and easier to use without blockchain technology. My non-expert understanding is that it's not possible. Also, from what I understand a key reason financial institutions are so interested in the blockchain is it helps greatly with the trust and settlement problems that at present take so much work and expense.