Thought Leader: An Innovator of Industry

As published on InnovationsOfTheWorld.com and featured in Innovate Blockchain

“ATTITUDES ARE CHANGING WITHIN BANKING LEADERSHIP TEAMS, AND I’M ENCOURAGED TO SEE THE NUMBER OF BANKS NOW INVESTING AND PARTNERING WITH TECHNOLOGISTS TO EVOLVE OUR INDUSTRY.”

Wade Peery, 世界赌博十大网站 Chief Innovations Officer

INFLECTION POINTS AND NEW POSSIBILITIES

As a career banker with over 30 years’ experience, I’ve seen a fair amount of change along the way. 回想起来, 主要拐点, no matter how disruptive to traditional banking methods have been positive in terms of making the banking experience better for everyone. The adoption of the Internet, evolution of the smartphone, and thoughtful application development all extended banking products and services to people who were otherwise outside of the banking system, improving access and inclusion.

I believe Blockchain and Web 3.0, 虽然在早期阶段, will spur the largest and most disruptive round of innovation in the history of the financial services industry. 真相将取代信任, eliminating friction along with layers of intermediaries that slow down our systems and add unnecessary cost. Authentic ownership for real-world assets will be tokenized, recorded, and transferred on blockchain. Money will be programmable allowing for real-time, accurate execution of the most complex transactions. We will take control of our personal data, shop in the Metaverse, and the list goes on…

在我看来, the future looks a lot like the past with new technologies presenting new possibilities. Having witnessed the unbundling of banking services and the accompanying exodus of retail customers from banks to fintechs during the last wave of tech innovation, I’m determined to put my years of experience to work instead of a being a passive bystander.

The most critical foundational challenge for the banking industry is the need to develop a method of tokenizing deposits within the existing regulatory and risk framework. 通过这样做, our banking system can continue to function as designed without a Central Bank Digital Currency and without the inherent risk presented by stablecoins.

区块链和web3.0 learning curve is steep for bankers, but it’s very exciting to see interest rapidly building. Attitudes are changing within banking leadership teams, and I’m encouraged to see the number of banks now investing and partnering with technologists to evolve our industry.

As all disruptive events go, the victory will go to those who lean in, learn, and lead. Banks are well positioned to evolve and innovate using these new technologies and if done well, recapture business that was lost in the last innovation wave.

The inflection points are obvious, and the time is now to engage and help shape the future of banking.