
At a time when you can buy financial products in post offices and mail boxes may be delivered at you local grocery store, there is no need for banks as we know them.
We at RigoBlock believe Blockchain technology will be at the backbone of financial markets infrastructure, gradually substituting current centralized architectures towards different forms of decentralized architectures.
Many times Blockchain technology has been flagged as the new Internet. Now we want to get deeper into the topic of adoption of technologies and why research and development are a vital fuel for innovative startups.
In a way Blockchain technology has already started disrupting the traditional venture capital funding model with the advent of digital tokens.
We believe everything related to transfers of money will be affected, and one after the other, all activities of investment banking will be implemented.
We believe Blockchain technology will empower the financial system of tomorrow, the change is inevitable. We might sound overly optimistic as the financial institutions and central banks will be reluctant to adopt the technology.

It will probably take a few years for the technology to be an even better substitute to current centralized architectures and to get people accessing the new tools: both the use of a Blockchain browser is different, and the idea of putting money in a decentralized exchange system is something that will grow just gradually as it will face psychological barriers from individuals.
An example apparently unrelated: in 1976 Fiat presents the first electric car with 80 km autonomy, moved by nichel-zynch batteries in the rear axis, able to reach 70km/h, and with batteries which would recharge during braking.

Yet the technology went undeveloped until a single human named Elon Musk pursued his goal of creating a completely electric car and self-funded the project.
We believe Blockchain is radically different from the auto industry as, while producing a car requires a production chain, public blockchains already provide the ideal environment to plug-in a new application and operate. Even regulation will become less binding in the years to come, and national regulators will monitor more the software of a new generation bank. The cryptocurrency market, just by itself, is already worth around 100 Billion US Dollar.
An example of the application of Blockchain to the banking industry are decentralized exchanges: some, like the RigoBlock Exchange, already exist. Of course they are still under heavy development and undergoing private or semi-private testing phases.
The biggest obstacle is not in building a decentralized exchange, but getting the liquidity and convince people to trade on decentralized exchanges.
There are a few challenges at the moment which very much depend on the state of Blockchain technology:
- execution confirmation speed is around 40 seconds, which is not ideal for high frequency trading;
- user interaction with blockchain applications requires a different user experience with new tools;
- the technology is so new no common standards exist and applications are not so capable of communicating with each other at the moment.
That said, you have to expect that, within the next 12 months, many different forms of decentralized exchanges will start operations on the main public blockchains.
In relation to point 1. we believe within 5 years execution speed will be comparable to current centralized servers.
In relations to point 2. we still do not know how the technology will be adopted and what tools will become mainstream, hence it’s an open question.
On point 3. we believe within 2 years blockchain will communicate with each other, creating a so-called “internet of blockchains”.
We are almost at the end of this article, and you might be asking yourself what this all has to do with the title of this article. It actually comes from our radically different view on reality and how society is going to be in 10 years.
The application of Blockchain technology will make the current bank branch obsolete, as it now clear that software will rule most of banking operations and branches will perform only those clerical tasks which can be executed by supermarket desks as well. The title is also a provocation to stimulate thinking about the pace of disruption we are to testify during the next few years.
The best news for all is that these new forms of exchanges of money will not come from established Wall Street firms, as their decision-making processes make them unfit to seriously experiment with this brand new way of moving money.
On the contrary, emerging startups are the ideal environment to experiment. We pride ourselves to apply a brutally serverless approach, as our long term view is that blockchain technology and the use of smart contract engines will completely substitute current centralized platform architectures.

