The Truth you didn’t know
Big banks love innovation—until it threatens their power.
In particular, they are quick to promote mobile apps, AI chatbots, and biometric security. But what about mentioning blockchain in their portfolios?
Blockchain doesn’t need banks and that is exactly what scares them.
In this article, we will uncover how blockchain challenges banks and why they hope you stay uninformed.
Blockchain removes the Middleman (including the Fees)
Banks profit by acting as the middlemen of trust. They charge fees to move money, verify identities, approve loans, and hold your assets. Conversely, blockchain applies its own way with no third parties, hidden fees or with any kind of delays. If you
💡 want to send money overseas instantly and at low cost? Blockchain technology enables fast, secure, and affordable international money transfers with no delays and no high fees.
💡 need to prove ownership without hiring a lawyer? Smart contracts make it fast, secure, and legally binding and therefore; no middleman is required.
💭Think back to your last bank fee.
What if you could do the same transaction faster, cheaper, and on your own terms?
Comparison of Traditional Banking vs Blockchain
The below table provides a good comparison between the traditional banking and blockchain.
| Features | Traditional Banking | Blockchain |
| 💸 transaction speed | 🐢 1–5 business days | ⚡ seconds to minutes |
| 💵 transaction fees | 💰 $20–$50 (international) + hidden charges | 🪙 a few cents or less |
| 🌐 accessibility | 🕒 office hours + intermediaries | 🌍 24/7, borderless |
| 🧾 transparency | 🔒 opaque internal systems | 🔍 public ledger (fully transparent) |
| 🔐 security | 🧱 centralized, vulnerable to breaches | 🛡️ decentralized + encrypted |
| 🧠 control | 👨⚖️ bank-managed assets | 🧍♂️ self-custody |
| 🌎 cross-border payments | ⏳ slow + expensive | ✈️ instant + cheap |
| 📜 smart contracts | 📑 manual legal processes | ⚙️ auto-executing agreements |
📉 According to Deloitte’s 2023 report, 80% of financial institutions are exploring blockchain technology. But most are not disclosing this in the public. Why? Because blockchain puts you in control.
🔐 Banks Fear Losing Control, Not Technology
Let’s be clear: Banks aren’t afraid of blockchain because it’s “too new” or “too complex.” Correspondingly, they are afraid of losing their grip on the global flow of money.
Right now, the banks decide the following parameters independently;
❓Who gets approved?
❓What you pay?
❓How you access your money?
But blockchain inverts this system, involving key parameters that you don’t need to control your funds, take permission or save and trade globally.
In actual, banks aren’t protecting you from blockchain—they’re protecting themselves from it.
Hidden Secrets of Banks
On the other side, banks are secretly investing in the blockchain. So, why do banks secretly invest in blockchain?
While public skepticism remains high, major banks are quietly investing heavily in blockchain technology. JPMorgan has launched its own digital coin, Goldman Sachs is running a crypto trading desk, and HSBC is testing blockchain for global trade. Although they know how blockchain works— but they just don’t want to lose control over how it works.
Certainly, the blockchain is not about speculation or hype. It is about knowing how technology in shifting power from institutions to individuals. Like the internet transformed media, and e-commerce rewrote retail—blockchain is changing finance. Moreover; blockchain is not trying to replace banks. It is giving you a choice to
- hold your own money.
- move it without permission.
- be part of a transparent and open system.
