ANZ Bank Executive Says Crypto Can’t Be Ignored Because Of ‘weight Of Money

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The exec­u­tive of ANZ bank shared his stance on the cryp­to indus­try and said that the cryp­to indus­try can’t be ignored because of the huge mon­ey inflow. 

On Thurs­day the “State of Play” forum was held by “Blockchain Aus­tralia”. In the forum, Nigel Dob­son- ANZ’s bank­ing ser­vices port­fo­lio lead- appeared and talked about the growth of the cryp­to indus­try over the tra­di­tion­al finan­cial mar­ket. In the forum event, there were rep­re­sen­ta­tives from the NAB offer­ing and Mas­ter­Card giant pay­ment firm also. 

Accord­ing to Dob­son, the growth of the cryp­to indus­try in the last 1 and half years is tremen­dous. And this growth of this indus­try makes it on the radar of the Banks. 

Fur­ther, Dob­son said that the cryp­to indus­try can no longer be ignored because there is a huge mon­ey inflow. 

“There’s this sort of weight of mon­ey that you just sim­ply at some point can’t ignore right?”

Dob­son tar­get­ed Defi plat­forms (rival of the tra­di­tion­al bank­ing sys­tem). Fur­ther, he added on the growth of the DeFi industry:

“… And you know, in the DeFi world that we’ve been watch­ing for a while or even in just the cur­ren­cy space, it’s just the weight of mon­ey and the qual­i­ty of mon­ey that’s mov­ing into these venues that makes us think, well, what is hap­pen­ing here?”

Dob­son also admit­ted that it is a part of Change­ment and rev­o­lu­tion of the tra­di­tion­al finan­cial market. 

“When you look under the hood on that, we’ve con­clud­ed that this is a major pro­to­col shift for finan­cial mar­ket infrastructure,” 

Dob­son appre­ci­at­ed blockchain tech­nol­o­gy and said that it is bet­ter in terms of secu­ri­ty, trust and also decen­tral­ized. But it can be used in a bet­ter way to get bet­ter outcomes.

Dob­son is a high­ly expe­ri­enced banker, who has 30 years of expe­ri­ence in the bank­ing indus­try and relat­ed ser­vices. In the past, he worked at Bar­clays, Citibank and ANZ  as a senior banker.

Read also: Red­dit will con­vert kar­ma points into dig­i­tal currency



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