Crypto advocacy group: US community banks should adopt blockchain technology and encryption services to avoid being swallowed up by large banks

According to a report by Golden Finance, Cody Carbone, the new CEO of the Digital Chamber, a cryptocurrency advocacy organization, recently warned that the number of community banks in the United States has sharply decreased from around 10000 in the mid-1990s to 4046. He pointed out on social media that these banks could have built competitive barriers through innovative real-time payment systems, encrypted asset custody, and stablecoin channels, but missed the opportunity due to slow actions and ultimately became targets of mergers and acquisitions. As the main blockchain industry association in the United States, the Digital Chamber of Commerce is currently promoting legislation related to stablecoins and market structures to establish a clear regulatory framework. Carbone believes that if community banks can quickly adopt blockchain technology and encrypted services, they can not only avoid being swallowed up by large banks, but also regain advantages in the field of financial innovation. Analysis indicates that although large banks are gradually upgrading their digital services, small and medium-sized institutions lacking effective digital strategies are facing a survival crisis.