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Banks love blockchain because they get to continue to maintain the ledger of transactions by running the software on their own computers. But Bitcoin creates competition for the banks in the form of anyone with a computer and an internet connection.
I have to admit that I also have this kind of feeling that the blockchain technology is more important and that one day we might be living without Bitcoin but the blockchain can go on. Well, that article is an eye-opener especially coming from the Wall Street side of the financial world. The best reason why the banking and finance sectors are adamant about Bitcoin is because this would soon be creating a fierce competitor for the services these banks are offering. Why would you be friendly with someone that is about to wrestle control on your throne? Let Jamie answer that question.
