Adrian C . Bürgi , Managing Partner , Lloyd ’ s & Partners AG
In the very near future , you will not need a bank , as we define it today from the customer ’ s perspective . No need for a building and a counter – it ’ s all in your pocket . But all jurisdictions , to maintain a well-functioning financial industry and to protect the public , do regulate and supervise activities relevant in this field . Only regulated and supervised entities are allowed to offer and provide such activities , and such entities are called banks . You may , in the future , not need much of what defines banks from a client perspective today , but it is a robust estimation that regulators will keep regulating banking activities and allow only “ banks ” to provide them .
The technology can handle unlimited numbers of cryptocurrencies . In theory , there could be one cryptocurrency per human being , per corporation , even per asset . There is an unlimited number of cryptocurrencies possible , each having a very specific and unique function or value , and these may live next to each other without competing and displacing each other . TCS already has IT systems to consolidate all these different cryptocurrencies and functions into one client user interface .
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