Far out, this article is just wrong. For the simple reason it is written by a banker who’s industry is being disrupted by a better technology.
To say nothing has happened in 10 years is very short-sighted, that time was basically a live ‘proof-of-concept’ given validation in 2017.
Cryptocurrencies are here to stay, and the developments in this space are moving alot faster than people can keep track of.
In the next 3–5 years transacting with digital currency will become the norm and just as easy to use as a visa debit card with contactless payment, which I might add already works — see TenX and Monaco for instance.
Consumer protection will come too, just because chargebacks aren’t currently available, doesn’t mean they won’t be. A digital currency is programmable, that means you can code the transaction to go through base on certain conditions being met i.e. product actually delivered, fit-for-purpose and even a warranty could be coded into the transaction.
To be honest, the author is a git, trying to protect his turf. Sorry mate I’m sure you are actually quite intelligent, but your motives are obvious and your argument is shallow and short-sighted. Time to review you business model.
I wish you well and hope you and the rest of the finance industry work out that innovation is long overdue.