Former Barclays Bank CEO changes attitude, encourages Bitcoin blockchain development

Anthony Jenkins, former CEO of Barclays Bank, predicts that financial technology or Internet finance will greatly disrupt the traditional banking system and the entire banking industry in the next decade. He asserts that the number of banking institutions and financial institutions related to banking business will decrease by 20% in the next decade.

Anthony Jenkins , chairman of Barclays, the second-largest bank in the UK, said: "I believe in the transformative power of technology. This power is unstoppable and will have a huge impact on the way we live and work."

     In addition, he also pointed out that the current financial service system of the banking industry is not healthy. "I predict that in the next ten years, we will see some super Internet financial companies, which will play an important role in the financial services sector."

     Anthony Jenkins also gave a speech titled “The Super Moment for Future Finance” at Chatham House, an independent policy institute in London. He said :

We see that the banking industry today is facing tremendous pressure. It is difficult for them to keep up with the same technological updates as their newest competitor, the Internet finance industry. This will lead to huge challenges to their future profitability. The number of traditional bank branches people work in may drop by at least 20%.

     According to Reuters , Barclays Bank has closed 280 branches in the UK and laid off 66,000 employees worldwide.

Anthony Jenkins also said that a simple technological revolution will improve social life. He gave the example that the rapid development of emerging companies will lead to the bankruptcy of more and more companies like Nokia or Kodak.

     In recent times, Barclays Bank has also made great progress in the field of new technology research, specifically by joining the Blockchain Business Consortium Alliance, which includes 30 world-renowned investment banks and financial institutions, and will jointly explore the possibility of applying blockchain technology in traditional financial markets.

     Anthony Jenkins has not made a clear statement on Bitcoin blockchain technology before . However, as a Bitcoin skeptic, he once said that Bitcoin is a waste of time. Now, he has changed his attitude and is more actively encouraging the development of Bitcoin blockchain technology.