https://blogs.thomsonreuters.com/financial-risk/know-your-customer/kyc-aml-landscape-2017/
Fines for K.Y.C breaches in the last 18 months for the worlds biggest banks is around 10 billion U.S.
This is a great article for the people that wonder why blockchain will take over.
Blockchain isnt a disruptor its an enabler.
Governments love regulations and control, especially over the finance sector.
And banks hate fraud, so its a match made in heaven.
For would-be investors its pertinent to note that the ethereum block chain is up to 40 times quicker than bitcoin block.
If youre wondering how this translates to revenue have a quick browse of each states public service bill.
You can delete any job that involves paper pushing ( Lands and titles, births deaths etc )
Any outsourcing to record storing to third parties such as recall or iron mountain, gone!
It may not be this horse, but the race has started.
Feel free to comment or correct
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