In recent years first layer of cryptocurrency ecosystem was completed without interference from big banks and investment funds. Large number of excellent projects was funded in bitcoin mostly by crowd.
Every day the cryptocurrency ecosystem has grown and become more self-sufficient. Many contact points with fiat currency ecosystem was made. Their purpose was to provide mutual capital inflows and outflows which allowed further cryptocurrency ecosystem growth.
Occasionally central banks have reacted mostly about regulation and capital control. But all this was remained undetected under big banks radar as competition or business opportunity. Finally, the cryptocurrency was discovered by big banks which caused their capital market explosion.
it's more then clear that further Blockchain/Fintech and Banking convergence is inevitable.
At he moment there are several convergence projects (with or without big banks interference) around very innovative blockchain platforms:
1. Ripple - Real time international settlement system that is connected with many correspondent banks and (originating and beneficiary) commercial banks. Compared with existing SWIFT network Ripple allows faster transaction speed, lower transaction fees and lower settlement risk and big benefit for all stakeholders.
2. Factom and their Harmony product intended for mortgage business over blockchain.
3. Bitpay - Bitcoin prepaid VISA Card that allows worldwide USD/local currency payments.
4. Symbiont - peer to peer lending blockchain platform for syndicated loan market.
There are also numerous gateways and exchanges between two ecosystems. All this projects will give additional stimulus for cryptocurrency ecosystem growth.
But who will dominate? Who will lead? Who will benefit most?
Answer is clear and simple: Cryptocurrency ecosystem including their blockchain development teams, project managements, communities and investors.
There are some signals that convergence blockchain project are strongly supported by big players.
2018 is set to be a game-changing year for banking. As the PSD2 - European Union Payment Service Directive 2 becomes implemented, bank monopoly on their customer’s account information and payment services is about to disappear.
That open the doors for Blockchain/Fintech projects growth over existing banking system.
Yes, many banks will also makes big profits. But every new project will reduce their participation and influence.
I will quote @outerground reply on my comment about SONM <-> GOLEM blockchain supercomputer competition:
Every new project seems to better mesh existing technology than the previous iteration. Evolving like an alien virus.
Regards