I agree. Some people think that cryptocurrency would completely get rid of banks, but I think that once bitcoin other cryptocurrencies go mainstream, they will actually be integrated into the banking system.
Traditional investment instruments that banks offer would simply be redenominated in bitcoin or whatnot. They may offer loans in BTC, deposits in BTC, or even use bitcoin as an asset that they hold in reserves in the future.
We're still quite far away from this phase though, but institutions are already catching up.
Though, I feel like in the future decentralised cryptos will be embraced by the community more than the centralised counterparts, which I feel like is the opposite of what Garlinghouse is trying to push.
Banks will not miss the benefits. BTC is big money and of course big people will want to bend this currency as well. Traditional investment instruments that banks offer would simply be redenominated in bitcoin or whatnot. They may offer loans in BTC, deposits in BTC, or even use bitcoin as an asset that they hold in reserves in the future.
We're still quite far away from this phase though, but institutions are already catching up.
Though, I feel like in the future decentralised cryptos will be embraced by the community more than the centralised counterparts, which I feel like is the opposite of what Garlinghouse is trying to push.
