Financial institutions have attempted to integrate digital asset technology for more than a decade with little to show for their efforts. As it stands today, the total value of blockchain-based finance comprises less than one percent of the $300 trillion global system.
The finance industry talks a good game about embracing blockchain, but the truth is much of the sector hopes crypto will prove to be a fleeting technical fad like Blu-Ray, so it can stick to business as usual. My colleagues and I at Franklin Templeton (a nearly 80-year-old, publicly traded financial institution) understand the sentiment.
