There’s no need to panic. Yet.

That’s what Westpac Group CEO Brian Hartzer has to say when asked about bitcoin and blockchainduring a briefing in Sydney on Monday,Australian Financial Review reported.

Hartzer said these technologies can be “potentially quite powerful from an efficiency point of view,” but it is still “a bit too soon to panic about it.”

“The development of the blockchain [will] certainly [have] a very interesting and potentially disruptive impact on financial services,” the Westpac boss said, according to the report.