Opinions

The Federal Reserve and other central banks deciding whether to compete with private cryptocurrencies should heed the financial stability risks, such as expanding the economic power of governments and altering longstanding payments models.

Banks face increasing competition from fintechs, third-party lenders and large technology companies as customer demands evolve, says Mastercard's Fabrizio Burlando.

he regulatory establishment in the U.S. and Europe, the DeFi market has too much momentum, contends blockchain investor Giamo Arcaro.

We’ve seen many companies embrace faster and easier payments systems, says Citizens' Matt Richardson.

While accounts payable systems are adjusting to decentralized work, it's unrealistic to expect a complete migration overnight, says Proactis' Michael Ereli.

The single-use element of virtual cards deters hacking, says Nvoicepay's Kristin Cardinali.

It's not just new transaction rails, but the speed of innovation has increased, says Hangar 75's Ian Wilding.

There's a wide range of uses for decentralized finance and related blockchain tech, says Wirex's Yves Renno.

User experience and efficiency matter. Consumers aren't going to do something more difficult just for the technology, says Computop's Jed Danbury.

As competition becomes more about countering fintechs than beating other banks, alternative payment methods and broader services will be key, says Icon Solutions' Simon Wilson.