Are Investment Banks Jittery About Blockchain?
Unlike any other industry, which gets affected by recession, top US banks, except Lehman Brothers, have always remained amongst the top despite multiple recessions impacting everybody else. The reason is simple – banks have primarily made money in capital markets by being sole intermediaries – something no one else has license to. For instance: top 10 Investment Banks alone charge nearly USD100 billion in annual fee income (Indian data is not entirely available: Link).
Source: Financial Times League Table
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Author: Vijay Kumar | Published on October 17, 2018