Do we even need banks anymore?

The cash initiative aims to enshrine the availability of cash and the Swiss franc as Switzerland's currency in the constitution. At the same time, more and more digital substitute currencies, known as stablecoins, are emerging globally, and central banks around the world are experimenting with digital cash based on blockchain technology. In this interview, Dr Tobias Trütsch from the Center for Financial Services Innovation at the University of St. Gallen explains which current technological trends are shaping the financial sector and whether banks will still be needed in the future.