Interviewer: Thank you for joining us, Sebastian. Congratulations on your new book, Blockchain & Banks. What inspired you to write this book?

Sebastian Celea: Thank you! The inspiration came from my fascination with how blockchain technology has completely reshaped the financial landscape. We’ve seen banks operating with the same foundational models for decades, but blockchain has forced a paradigm shift. I wanted to capture that transformation and provide insights into what the future might hold for traditional banks and the broader financial ecosystem.

Blockchain & Banks

Interviewer: Blockchain is often associated with cryptocurrencies like Bitcoin. How does your book explore blockchain beyond just crypto?

Sebastian Celea: Great question. While cryptocurrencies are the most popular application of blockchain, the technology goes far beyond that. In the book, I dive into its potential for smart contracts, fraud prevention, cross-border payments, and even asset tokenization. I discuss real-world case studies where banks are using blockchain to reduce costs, improve transparency, and enhance customer experiences.

Interviewer: You mentioned smart contracts. Could you explain how they are changing the way banks operate?

Sebastian Celea: Absolutely. Smart contracts are self-executing contracts with the terms directly written into code. They automatically execute transactions when certain conditions are met, eliminating the need for intermediaries. This has huge implications for banking processes like loans, mortgages, and insurance. Not only does it reduce paperwork and human error, but it also speeds up processes significantly and enhances transparency.

Interviewer: Many people are concerned about the security of blockchain. What’s your take on that?

Sebastian Celea: Security is actually one of blockchain’s biggest strengths. Transactions on a blockchain are immutable and cryptographically secured, which makes hacking incredibly difficult. That said, no system is perfect. In the book, I discuss some challenges like cybersecurity risks and regulatory concerns, emphasizing the need for banks to adopt best practices for securing digital assets.

Interviewer: Speaking of regulation, how do you see regulatory frameworks evolving to accommodate blockchain and digital currencies?

Sebastian Celea: This is a critical point. Governments around the world are scrambling to create regulatory frameworks that balance innovation with consumer protection. In Blockchain & Banks, I explore the tension between decentralization and regulation, highlighting countries that are leading the way in creating crypto-friendly environments. I believe that collaboration between regulators and financial institutions is key to unlocking the full potential of blockchain.

Interviewer: You also touch on decentralized finance (DeFi) in the book. How do you see it impacting traditional banking?

Sebastian Celea: DeFi is a disruptive force that’s hard for traditional banks to ignore. It allows people to access financial services without needing a central authority, which challenges the very foundation of traditional banking. I believe that rather than fighting DeFi, banks should find ways to collaborate with or integrate aspects of it. This hybrid approach could offer customers the best of both worlds—security from traditional banks and innovation from DeFi platforms.

Interviewer: What do you hope readers take away from your book?

Sebastian Celea: I hope readers gain a better understanding of how blockchain is not just a buzzword but a transformative force in finance. More importantly, I want them to see that banks and blockchain can coexist and even thrive together. The future of finance will be a blend of traditional systems and decentralized technologies, and we’re just getting started on that journey.

Interviewer: Do you believe blockchain will replace banks entirely in the future?

Sebastian Celea: I don’t think blockchain will completely replace banks, but it will certainly redefine their role. Banks that embrace innovation and adapt to the new digital landscape will survive—and even thrive. Those that resist change, however, risk becoming obsolete. The key lies in striking a balance between tradition and innovation.

Interviewer: Finally, what’s next for you as an author?

Sebastian Celea: I’m always exploring emerging trends in technology and finance. While I haven’t decided on my next book yet, I’m sure it will continue to focus on disruptive technologies shaping the future. For now, I’m excited to see how readers engage with Blockchain & Banks.

Interviewer: Thank you for your time, Sebastian. We look forward to reading more of your work.

Sebastian Celea: Thank you! It’s been a pleasure.