Alexander Lebedev, owner of the British Evening Standard and The Independent, and the Russian newspaper Novaya Gazeta spoke glamorously about the possibility of revolutionary changes in cryptocurrency and smart contract financing.

In a short 1,800-word article published in The Independent on October 13, the billionaire predicted that blockchain technology would disrupt what he described as a parasitic global banking oligopoly, claiming that “blockchain technologies and smart contracts would make huge resources unnecessary. most in the financial sector. ”

While he believes that “the current explosive growth of DeFi platforms is driven by a rapid influx of liquidity” and “can not continue indefinitely,” he says:

“The technology embedded in this infrastructure offers enormous potential for rebuilding the global financial system.”
Lebedev said that smart contracts give clients access to financial services “without the involvement of an intermediary in the form of the bank itself, thereby preventing” greedy bankers “from stealing customers’ money.

Lebedev also said he invested $ 100,000 in the Estonian autumn protocol as a “trial experiment” and was surprised by the rapid return. Now he wants to create his own “independent decentralized financial system.”

The platform will aim to offer “a full range of traditional banking services”, including “currency exchange, deposits, credit, settlement and cash [and] domestic and international transfers.”

The former banker noted that global regulators are increasingly turning to cryptocurrencies, citing recent moves by lawmakers in Germany, China, Switzerland and the United States to identify stable coins and security tokens.

The next step will be to “digitize” real estate, including industrial premises, real estate, goods and services, and store them in distributed ledgers.
One of the reasons he believes in the cryptocurrency potential is that Lebedev in its current form claims that the global financial system “drives the world economy into a catastrophe.”

Lebedev devoted 25 years to banking and in 1995 bought Russia’s third largest private bank, the National Reserve Bank. He claims to have noticed a shift in the modern banking practices of his rivals towards “client money.” Lebedev added that since the 1990s, thousands of Russian “bankers” have embezzled “more than $ 100 million from customers’ money.”

He said that “billions of people are completely deprived of banking services” due to their limited access to financial resources, and explained their financial isolation by saying that the banking class has nothing to steal from them.

“We may be on the brink of a real revolution in the international financial system and the end of the bank.”

Source: CoinTelegraph