One of the ways the traditional finance keeps front running crypto is by continuing to innovate on their own part. The idea of being able to pay someone as easily as sending a text message is one of the most alluring parts of the crypto story but you no longer need crypto to do that. You can pay someone just as easily with Zelle or Venmo and if you screw it up by accident, get locked out, or are hacked there’s an institution there to help you. That naturally sounds better to most people and it also allows you to transact with a stable U.S. dollar as opposed to a wildly fluctuating cryptocurrency.

The only thing they can’t really front run is Bitcoin since it has some monetary characteristics that make it unique thanks to the Proof of Work. But otherwise I expect fintech to continue advancing and building all the promised benefits of crypto into their existing systems. 

I expect a bank-based payment platform divorced from phone numbers in the way that Signal no longer uses phone numbers to emerge soon.

Writer, podcaster, and commentator on foreign affairs and politics. Runs /dropglobalnews

Clanker Broadcasting Service /cbs

JP Morgan Chase may be the first, they've had a stablecoin since 2019. But big institutions move slowly.