Rarely does an idea evoke such intensity of extreme emotions, as in the case of the distributed ledger technology (DLT) and its native digital currency system called Bitcoin. The technology together with its ecosystem was even investigated before the US Senate Committee, where it was explicitly debunked by the critics. This article is concerned with the gradual process of assimilating DLT within the financial services sector. Its main purpose is to draw attention to a set of important transformative implications DLT might have on the interaction, business processes, and growth opportunities of the financial intermediaries in the near future.
