Topic: Banks and Crypto (Read 92 times)
Bank are going to be yesterdays news only used by old grannies and anyone allergic to electricity. Thinking ahead, people are going to use bitcoin instead for safe transactions, and then other platforms like NEO when creating DAPPs.
Yes crypto has been a challenge for banks as crypto provides almost everything that bank provides like store of value/assets, transfer of money, local and global payments, so banks want to discourage the use of crypto which we have seen by implementing ban on sale and purchase of crypto by banks but i think sooner or later banks will also use and upgrade their systems using blockchain technology.
I think, they did it because crypto does not have any part that will take the responsibility if there something happens and they also prevent any activities of money laundering. Nobody knows, maybe someday the bank will support the crypto in the future.
Crypto is already in a world of its own, this is what I called the democratic currency(people's owned). However it may not be able to replacement the traditional bank due to its anonymity and high volatility but will certainly serve as an alternative source of payment which the banks have come to terms with and it is working
Whatever short history the crypto has, it has already proved it cannot be contained or destroyed. Either the banks and the authorities go along with the flow of crypto and make them friendlier to both the public and the bank, they would continue to exist otherwise people would start looking for alternatives.
The next standard of banks would be based on blockchain and no one can stop that from happening.
The next standard of banks would be based on blockchain and no one can stop that from happening.
Many people are worried about banks and their goals in crypto. Do banks want to destroy crypto because it causing troubles for them? Do banks want to take control upon crypto and make it part of their system? I think it's more simple. Banks see how popularity of cryptocurrencies grows. How fast it getting stronger. It's being mined, traded and invested. People use it for payments. And they just want to take part in it. You know, get a little piece of this crypto cake. In my view of future they will not take control or destroy crypto. Banks will just join this business and will provide easy access to the crypto for people who use their services. Let's talk about it...
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