Standard & Poor’s does not see blockchain technology having any near-term impact on assessments of bank stability, but the ratings agency acknowledges that it could deal a significant blow to traditional business models over the longer term. In a report seen by CNBC, S&P said that the technology has the potential to destabilise existing business models, noting the huge sums of money being invested by banks across the entire business value chain.
However, widespread market adoption beyond niches applications remains a long way off it said.
„As a result, we do not see blockchain as a rating driver in the near term or even perhaps in the long term,” the report states. „But we consider that, depending on the technology’s eventual application and whether it takes hold in the financial industry, it could have a substantial impact on institutions’ business models.”
Nonetheless S&P is keeping a close eye on developments, saying it could „consider rating changes if its widespread implementation occurs faster than we currently expect, resulting in an extensive impact on financial institutions’ operating models”.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”