Asheesh Birla, a board member at blockchain company Ripple, argues that blockchain technology is driving the ‘unbundling’ of banks. Comparing this to the internet’s impact on newspapers, Birla believes that traditional banking institutions are experiencing a similar transformation. As previously witnessed with newspapers splitting into various specialized sections like classified ads, recipes, opinion pieces, job listings, and more, Birla sees blockchain technology fostering the emergence of niche financial services like stablecoins as a form of specialized banking. This prediction aligns with Bloomberg Opinion columnist Matt Levine’s assessment that these digital currencies are creating new avenues for limited-scope banking.