“What happened with the internet wasn’t that we had some great companies that made some great platforms. What happened with the internet was that you didn’t need anybody’s permission to launch an application, and so you could launch one and then let other people use it to launch another and another and another, and it created this tsunami of innovation that completely overwhelmed all of the possible competition so that they couldn’t compete — and this is going to happen to banking. They cannot compete against that. Because there’s no way you can do inside a company the amount of innovation of the entire world put together, all operating to serve their own special purpose without asking for anybody’s permission.”
-Andreas Antonopolous, in the YouTube video ‘The Five Pillars of Open Blockchains’, in 2019.
(read about Andreas Antonopolous on Wikipedia)