How banks are trying squelch Bitcoin’s momentum
http://venturebeat.com/2015/12/20/how-banks-are-trying-squelch-bitcoins-momentum/
Quote
There is no question that Bitcoin is causing a lot of worry and hand-wringing in the banking sector — and in national governments uncertain of how to regulate it. It is, after all, a highly disruptive technology — one of very few alternatives the world has seen in centuries to creating and handling money securely and efficiently outside of the government and the bank.
Bitcoin’s implementation effectively creates decentralized trust, which is the main asset banks sell, and it challenges the money minting monopoly of national governments.
Regulators and players in the banking sector at first ignored Bitcoin. Many predicted its demise sooner rather than later. However, that has not happened yet. Instead, as time has gone by, it has become apparent that Bitcoin poses a danger to the status quo of money.
...
Bitcoin’s implementation effectively creates decentralized trust, which is the main asset banks sell, and it challenges the money minting monopoly of national governments.
Regulators and players in the banking sector at first ignored Bitcoin. Many predicted its demise sooner rather than later. However, that has not happened yet. Instead, as time has gone by, it has become apparent that Bitcoin poses a danger to the status quo of money.
...