>is starting to no longer be competitive with the establishment the establishment has scale of billions of users and decades or even centuries over which it ha

>is starting to no longer be competitive with the establishment the establishment has scale of billions of users and decades or even centuries over which it has evolved its machinery. Doing something "on a computer/over internet" allowed to beat a lot of incumbents in less technical areas, while in this case the incumbent - the fintech - is itself one of the first adopters of the various "on a computer/over internet" tech. So just doing it "on a blockchain" may be not enough. Especially given that, like negative feedback in control systems, the blockchain has that limiting control loop of "higher demand and wider adoption -> higher transaction fees" which naturally results in curbing of the demand/adoption. I.e. economy of scale works in the opposite direction on blockchain.