Santander has ‘20 to 25 uses’ for the technology behind bitcoin — Oscar Williams-Grut…
Evan Hansen

I was curious about how seriously people take these kinds of savings estimates. I’ve read that $20B number cited uncritically at least 50 times over the past few days since that Santander report came out. So I asked Dan Davies over at Bull Market what he thought:

Basic answer — yes. I wouldn’t necessarily want to endorse a point-estimate of $20bn but it’s potentially a big number (remember we’re talking about systems which handle trillions a day)
Shared ledger would be as big a development for payments systems as MIDI was for electronic music, is the way I look at it. A simple single standard that “just works” cuts out a whole lot of work that’s currently done with spreadsheets and phone calls
You’d be amazed how many people are earning low six figure salaries for jobs which really ought to be done by a functional Excel import/export option