Now IMHO one of the ways these startups can become commercially sustainable and avoid this downward pressure is if they can successfully leverage machine learning somehow. It’s this combination of technologies that I like most because guess what: machine learning likes big standardised data sets and ultimately I believe this is the main promise of ‘blockchain’.
IMHO (and this is not only my opinion) it will be Banking-as-a-Service or Banking-as-a-Platform. However you want to call it the setup stays the same. I want to illustrate this based on N26 and their existing partners Transferwise, Allianz and vaamo.