modernconsensus.com
EU banks must get speed up blockchain investment, warn Lagarde, Bain
European banks must speed up their investments in blockchain technology in order to recapture their own capital markets from American financial institutions, global consulting firm Bain & Company warned in a report released on September 3. A day later, International Monetary Fund (IMF) chief Christine Lagarde told the European Parliament’s Economic and Monetary Affairs Committee that with bank profits low and FinTech firms gobbling up investments, EU central banks must welcome new technologies—including digital currencies—in order to remain competitive.