Topic: Banks afraid of cryptocurrency? (Read 842 times)
Maybe they feel threatened about the growing of crypto currency,so that they start planning on how to welcome crypto currency in the banking business,
Definitely. Banks are afraid that people would redirect their assets from bank to cryptocurrency, which believed that the crypto will weaken the real currency.
crypto will replace banks,
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decentralized voting will replace governments
Support UNIFY World Revolution
We are aming to eliminate corrupt governments and unify the world under one decentralized voting system.
Find more on http://unifyworldrevolution.com/
donate BTC: 1Aj6phPendS29XRaJGH6HJDouwo9pbgyya
donate ETH: 0x42202762f42499543748bbb221e8337452070d0f
Most "big banks" are involved in many ways in cryptos lol.
I really don't think they're afraid of it.
I really don't think they're afraid of it.
I think banks are not that afraid of cryptocurrency. First is that banks is one of the major part of society. Thus, they cannot be just diminished instantly. Also, this cryptocurrency will not replace the banks but will be just one of the major competitors of them. The ease that was given by cryptocurrency might be considered by customers. But I think eventually, banks will be threatened by these due to the increase of customers who used it. Also the innovation and advancement of technology that was offered by cryptocurrencies would be one thing to consider. Nonetheless, we are never sure of what might happen in the future so we should just prepare ourselves to the changes that might happen in our society.
I suppose that banks participate in cryptocurrency trading unofficially in some way. Bankers can't allow anyone else to control the market of currencies. Although it would be great if banks couldn't undertake nothing dangerous to world of cryptocurrencies.
I think in a couple of years banks will find out that cryptocurrency is a strong competitor for them
Ceos of U.S.banks are likely "very afraid"of cryptocurrency,according to a wealth advisor.Cryptocurrencies could present investors with a viable alternative given the uncertainty from banking's luck of transparency.
I think they are afraid - it all comes down to control. The Govenor of the Bank of England has already shown his cards on this - without regulation he and the banks have no control.
banks are afraid of cryptocurrecy as they are afraid that people will not save money in their bank accounts as they will get less money for their operations so they refuse people from using their bank accounts to buy cryptocurrency form credit card as well.
The ones adapting blockchain and others will survive.
Check the concepts of Challenger Banks in UK.
Also you can what is PSD2 Banking.
All the best
Aytunc
Developeo
Check the concepts of Challenger Banks in UK.
Also you can what is PSD2 Banking.
All the best
Aytunc
Developeo
Of course they are afraid. Look up patents by the banking and financial institutions. They are trying to patent ideas as fast as possible to help keep skin in the game.
They can't take the patent for someone else's invention. Blockchain and Bitcoin belongs to Satoshi Nakamoto and therefore the banks can't take any patent for them. That is one of the reasons why they are supporting some of the main rivals of Bitcoin, such as Ripple.
Banks, by their nature, are always looking for ways to reduce their exposure to risk by balancing the profit from the provision of loans and investments on behalf of their clients. The bitcoin system in its present form should seem so insignificant in comparison with the usual operations of the bank, which, probably, is not worth contemplating.
Gareth McLeod, co-founder of the Canadian company Tinkercoin, managed to convince the bank to engage in joint business.
"Banks are conservative institutions," says McLeod. "From their point of view, they will get very little from working with Bitcoin businesses, while they may lose a lot. Even the biggest bitcoins of the company will bring only a few hundred thousand dollars in revenue to the bank, which is a pittance for him. "
Gareth McLeod, co-founder of the Canadian company Tinkercoin, managed to convince the bank to engage in joint business.
"Banks are conservative institutions," says McLeod. "From their point of view, they will get very little from working with Bitcoin businesses, while they may lose a lot. Even the biggest bitcoins of the company will bring only a few hundred thousand dollars in revenue to the bank, which is a pittance for him. "
Of course they are afraid. Look up patents by the banking and financial institutions. They are trying to patent ideas as fast as possible to help keep skin in the game.
Banks will always exist.
But crypto will change the game a lot. And hopefully put more power into individuals' hands instead of conglomerates
But crypto will change the game a lot. And hopefully put more power into individuals' hands instead of conglomerates
Does that mean, that banks will lose their power?
If banks are afraid of crypto then they will probably adapt to the new market trend so their power won't vanish in the dark. Does that mean, that banks will lose their power?
Slowly but surely. Everything takes time. Which is why the banks feel threatened. More and more companies are buying crypto in case their systems get hacked etc. It's all part of risk management.
Does that mean, that banks will lose their power?
Yes, banks are afraid of cryptocurrencies. Banks together with the government in other counties declare war on cryptocurrencies. They want to take down crypto world or maybe they want to have control in cryptocurrencies. 
Banks, like big brother, are afraid to lose control over people.
Banks currently feel threatened by the presence of cryptocurrency, and even the loss of many customers. Therefore the government took action to issue a policy for the use of cryptocurrency. But in the near future I think the Bank will not lose its power, maybe the next 5 years or even more than 5 years later.
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