As far as I know, many banks have tried to adopt cryptocurrencies and many are still trying to do so. Unfortunately, the problem for the bank is that they cannot control the decentralized system. Decentralization is the complete opposite of what banks were made for. In other words, in my opinion, either banks will simply create their cryptocurrencies and will try to appear on the market like any other coin, or they will have to fight to survive in the financial market.
Not the big ones if I recall, they still think that crypto is a passing fad and it will be gone in a years, and that kind of thinking is loop for them every year. This was reminiscent of the starting of Internet, everyone thought that it's just a fad but here it is. They're most likely to create their own coin rather than adopt cryptocurrencies directly because they know that they might be able to more profits out of the former than the latter. 
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As far as I know, many banks have tried to adopt cryptocurrencies and many are still trying to do so. Unfortunately, the problem for the bank is that they cannot control the decentralized system. Decentralization is the complete opposite of what banks were made for. In other words, in my opinion, either banks will simply create their cryptocurrencies and will try to appear on the market like any other coin, or they will have to fight to survive in the financial market.
I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.
Their main business is on giving loans, I don't think that bitcoin could compete on that. They'll only be worried if people will not trust bank anymore on saving their money, and instead convert it to bitcoin to save and invest as their main source of funds for loan distribution will reduce.
which it is understandable that they would really be complying on whats been asked.
We've seen several Banks accept or adopt crypto or still in neutral but it wont take that long that they would be ending up on having the same perspective.
On many occasions I think we have seen that banks publicly stating that they will not support crypto adoption will only make them worry about the emerging economic problems. Obviously they look scared, but going forward we really don't know how this rule can be softened.
Banks have personal reasons why adoption is impossible and one of them may be because of their desire to own a fully centralized cryptocurrency. The adoption of crypto, especially bitcoin, will only make them lose their income in the form of investing in customer funds that they have been using, people prefer bitcoin which is very easy to make transaction and many other things.
Of course, it cannot be denied that the emergence of a decentralized cryptocurrency and especially its successful further development and distribution around the world is a big problem for the banking system. In any case, cryptocurrencies have already taken a decent part of their profits from banks, as more and more people keep their money not in banks, but in cryptocurrencies, which in many cases provide significantly more profit than banks offer. At the same time, it cannot be said that the banks are strongly concerned about their continued existence. I believe that banks have nothing to fear in this regard, since the banking system as a whole is under the direct protection of states. In addition, banks perform other functions of servicing the financial and economic activities of institutions and organizations of all forms of ownership, as well as the economy of the state as a whole, which cryptocurrency cannot perform. Therefore, as long as states exist, their banking system will exist. Banks have personal reasons why adoption is impossible and one of them may be because of their desire to own a fully centralized cryptocurrency. The adoption of crypto, especially bitcoin, will only make them lose their income in the form of investing in customer funds that they have been using, people prefer bitcoin which is very easy to make transaction and many other things.
it seems that banks don't care about the fear of Crypto, recently the bank equated Crypto with world banks, which resulted in Crypto being side by side with world banks for its progress.
with the result that they are partnering with what the world bank wants
with the result that they are partnering with what the world bank wants
Perhaps you are talking about CBCD's?
For me I don't equate them with crypto itself, because obviously it is back up by the government so it will be centralised and I doubt that it can be traded in an exchange. They could be just define as similar to fiat, in my opinion.
But as far as Banks being afraid of crypto, maybe, that's why they are like issuing bans on telling the public about the dangers of cryptos.
Oh yes.
Just ring your bank and ask them about a crypto purchase that you are going to undertake. See their reaction and you'll understand that they are fearful of the change.
I think though that a lot of bank employees are conditioned by the higher-ups to see cryptos as some sort of threat, and they just take it on blindly because they don't really understand the technology that is underlying bitcoin and other decentralized currencies. If more education is given to these people about this matter, their attitudes could seriously change.
Just ring your bank and ask them about a crypto purchase that you are going to undertake. See their reaction and you'll understand that they are fearful of the change.
I think though that a lot of bank employees are conditioned by the higher-ups to see cryptos as some sort of threat, and they just take it on blindly because they don't really understand the technology that is underlying bitcoin and other decentralized currencies. If more education is given to these people about this matter, their attitudes could seriously change.
Let's call the bank and ask them to sell Google shares. Or call the bank and ask them to invest your money from the card in SpaceX. What will you hear? That's right - banks are afraid of SpaceX and Google!
In fact, the bank is not obliged to trade cryptocurrencies and other assets, it has other goals, and the main resource is CURRENCIES, official currencies. This is how bitcoin will become the official currency - you call the bank and they will easily sell it to you, or you can easily exchange part of your fiat from your account to your cryptocurrency account from the banking application on your phone while walking.
Oh yes.
Just ring your bank and ask them about a crypto purchase that you are going to undertake. See their reaction and you'll understand that they are fearful of the change.
I think though that a lot of bank employees are conditioned by the higher-ups to see cryptos as some sort of threat, and they just take it on blindly because they don't really understand the technology that is underlying bitcoin and other decentralized currencies. If more education is given to these people about this matter, their attitudes could seriously change.
Just ring your bank and ask them about a crypto purchase that you are going to undertake. See their reaction and you'll understand that they are fearful of the change.
I think though that a lot of bank employees are conditioned by the higher-ups to see cryptos as some sort of threat, and they just take it on blindly because they don't really understand the technology that is underlying bitcoin and other decentralized currencies. If more education is given to these people about this matter, their attitudes could seriously change.
I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.
Their main business is on giving loans, I don't think that bitcoin could compete on that. They'll only be worried if people will not trust bank anymore on saving their money, and instead convert it to bitcoin to save and invest as their main source of funds for loan distribution will reduce.
I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.
By the way, I don’t think issues like this should be enough reason for them to be trying to be stopping a really good innovation like this. They should look for ways to handle those things they believe are the bad sides, instead of trying to put an end to Bitcoin. Moreover those things that they are using as an excuse has been happening right before Bitcoin starts to exist.
Are they are that in much concern about adoption of bitcoin or generally with crypto? I dont think so because anytime they could deal with it as long the government permitsBy the way, I don’t think issues like this should be enough reason for them to be trying to be stopping a really good innovation like this. They should look for ways to handle those things they believe are the bad sides, instead of trying to put an end to Bitcoin. Moreover those things that they are using as an excuse has been happening right before Bitcoin starts to exist.
and since these institutions are heavily regulated then its normal that they would really be following government orders and laws which we know that most of them are really against
on cryptos existence thats why they dont really bother out on what would or should be accepted.
I do get that banks are worried about issues such as bitcoin being used for the wrong reasons, but that’s not really the main thing; I think that the main thing that worries them a lot is the fact that they feel that bitcoin might be bad for their business, because a lot of people might start switching to making use of bitcoin and use it a lot than their banks which might affect the business that banks are doing.
By the way, I don’t think issues like this should be enough reason for them to be trying to be stopping a really good innovation like this. They should look for ways to handle those things they believe are the bad sides, instead of trying to put an end to Bitcoin. Moreover those things that they are using as an excuse has been happening right before Bitcoin starts to exist.
By the way, I don’t think issues like this should be enough reason for them to be trying to be stopping a really good innovation like this. They should look for ways to handle those things they believe are the bad sides, instead of trying to put an end to Bitcoin. Moreover those things that they are using as an excuse has been happening right before Bitcoin starts to exist.
Bank was control by the government. So the term bank are the government is the real fact in the crypto market. Government will not fear about the crypto or crypto market. Cryptosystem and crypto investors only fear about the government and government legalising and their loss on crypto currency.
That’s right, the government are the ones who are in control of everything that has to do with finance. That is why we have the central bank which is always in control of the whole banks that are operating in a country and makes their reports to the government. Every bank there is, is always licensed by the central bank, and they all report back to the central bank, while the central bank now acts as the eyes of the government.In a way, I will say that the government are also afraid of crypto, from what I see. When they see the level of freedom that cryptocurrency can give to the people, and how people can be able to override a lot of blockages that they,the government, might have placed by using Bitcoin , they would be afraid of allowing people to make use of it.
Not necessarily. Well, maybe some, but I guess there a handful reasons why certain banks show strong disapproval of crypto. Perhaps many of these banks have yet to really explore the basics of crypto and its potential. Or perhaps the highly unregulated characteristic of crypto truly bothers them. Or since banks, being financial institutions, are rather stringent, they seem to have a distaste of the anarchist, irreversible, pseudo-anonymous nature of crypto. But, make no mistake, many of them are already joining the community.
I think that banks are afraid of crypto adoption and quite extremely, I would say. Crypto is there to literally replace banks. Blockbuster facing the age of internet streaming videos , basically. At this point it is only a small matter of time until nobody wants to use banks anymore. Why even pay a fee for a third party to hold your money? That just seems like a stone age idea that has never gotten replaced-
This is a fairytale. Cryptocurrency now, and in the short term, will depend on fiat and the banking system. In any case, in order to use crypto, 99% of you need to withdraw it and convert it into currency, fiat currency. And only then can you use the derivative of the crypt for real use. Why should banks be afraid if the value of a crypt is estimated in fiat? Crypto is introduced to fiat to cover 99.9 of human needs. And this is all the% that banks receive, and they also control whether to let the exchange withdraw money to a bank card or not. "Black" cashing schemes - vryatli everyone will want to intersect with the criminal code and be held accountable. And if you use the cryptocurrency officially, then all the advantages of the cryptocurrency are immediately reset to zero ...
In a word - assess the reality, and you will understand that the "savior cryptocurrency" is more of a myth.
I think that banks are afraid of crypto adoption and quite extremely, I would say. Crypto is there to literally replace banks. Blockbuster facing the age of internet streaming videos , basically. At this point it is only a small matter of time until nobody wants to use banks anymore. Why even pay a fee for a third party to hold your money? That just seems like a stone age idea that has never gotten replaced-
I think some of the banks but not all banks. I bet there are many workers of banks or even managers or maybe higher than those positions that are investing or interested in crypto currencies. I saw one with my own eyes and then he openly talks about it and it makes him happy. He was okay with crypto currencies and studying a lot more.
When I was opening a bank account one time, the manager ask me where do I get my funds and I told him that it was somewhat related online and he ask me if it was from bitcoins or crypto as a whole and I said yes. He then never ask me further and decided to approve my application, it just shows that they recognize the crypto industry.
When I was opening a bank account one time, the manager ask me where do I get my funds and I told him that it was somewhat related online and he ask me if it was from bitcoins or crypto as a whole and I said yes. He then never ask me further and decided to approve my application, it just shows that they recognize the crypto industry.
Banks are profiting from crypto. If anything, they love crypto. Look at Coinbase FDIC insurance and CIrcle with their USDC. I would venture to guess that USDC is lined up to be the first CBDC. Interesting times we are living in.
They are adapting to the changing circumstances and nothing more, if it was up to them bitcoin will disappear yesterday, but now they understand that this is not possible for the moment and they are making the best out of a bad situation, they are hoping that if they buy enough time then they will find a solution to their problems, but this is not possible and bitcoin despite their desires is going to keep increasing in value and it will slowly take over part of the services they offer to their clients.crypto because of that reason which is something not surprising since they are highly regulated and its a common behavior or qualities that they do have.They arent afraid as long they do abide with the law
and if ever there would be some changes then they would just simply make out some adjustments or adaption whenever there's something new.
Banks are profiting from crypto. If anything, they love crypto. Look at Coinbase FDIC insurance and CIrcle with their USDC. I would venture to guess that USDC is lined up to be the first CBDC. Interesting times we are living in.
They are adapting to the changing circumstances and nothing more, if it was up to them bitcoin will disappear yesterday, but now they understand that this is not possible for the moment and they are making the best out of a bad situation, they are hoping that if they buy enough time then they will find a solution to their problems, but this is not possible and bitcoin despite their desires is going to keep increasing in value and it will slowly take over part of the services they offer to their clients. Personally I think that it is a bit of both. I think that they somewhat fear or don't like bitcoin and other cryptocurrencies, but I also think that they see a lot of financial opportunity for them. I mean as of right now you still need to exchange your bitcoin/cryptocurrency for fiat currency. So banks are still needed and it seems to me that they will be needed for quite some time.
I think most banks don't see much of a threat at the moment. I think it's more governments who fear/dislike crypto.
I think most banks don't see much of a threat at the moment. I think it's more governments who fear/dislike crypto.
Banks are the Government.
Repeat that 1000x over.
Then your training will be complete young grasshopper.
Personally I think that it is a bit of both. I think that they somewhat fear or don't like bitcoin and other cryptocurrencies, but I also think that they see a lot of financial opportunity for them. I mean as of right now you still need to exchange your bitcoin/cryptocurrency for fiat currency. So banks are still needed and it seems to me that they will be needed for quite some time.
I think most banks don't see much of a threat at the moment. I think it's more governments who fear/dislike crypto.
I think most banks don't see much of a threat at the moment. I think it's more governments who fear/dislike crypto.
Of very good reason cryptocurrency and CBDC are of different purpose. Cryptocurrency ethusiast understand that CBDC was for fighting cryptocurrency and not to support it. Cryptocurrency have been under critism. Government that have tried to stop the masses in their jurisdiction open up portal for CBDC to discourage the use of bitcoin and cryptocurrency, countries like China, Nigeria and more but El Salvador that has adopted bitcoin is yet to I think so.
Banks will create their own user base for CBDC and the crypto will remain the same even if the government appears to want to fight it at all costs. CBDC is expected to have a competition with crypto to determine who is actually better between the two, if we are crypto users then we will definitely be more loyal to whatever we already have from crypto, especially bitcoin with all its innovation.It is known that government do not like uncontrolled financial systems like cryptocurrencies and that makes them afraid to adopt them which we have heard many times about the stability of the existing economy. I know it's just one reason, but they have a thousand other reasons not to let the financial system get out of hand.
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