So they are going to destroy themselves by commenting that cryptos will become adopted in main stream? We may not need anyone like trusted third party for making transactions.
But even if they comment it or not this decade is going to be next level adoption of cryptos,more services will grow up and also the regulations from different corners.
Topic: Banks are bullish on crypto - page 2. (Read 279 times)
Banks are not bullish on crypto, Banks are regulated by the governments & non-government currencies such as Bitcoin, Ethereum, XRP etc are threat to their power. Since crypotocurrency market is showing huge growths despite some ups & down, seeing this tremendous growths banks are changing their stance because they came to understand they can not stop or control digital currencies. That is why they are coming up with the centralized stable coin which can be easily regulated, monitored & pegged to fiat currency. That is why governments stopped further development of Facebooks Libra project & due to increased scrutiny from government regulators some of Libras partners such as Visa, eBay, MasterCard and PayPal abandoned the project.
Bitcoin's first application was born. Banks initially hated Bitcoin, but now they like it because banks know if they continue to no longer accept blockchain. In the future, they will definitely be abandoned by the times. The emergence of the economic crisis and the role of banks, so I think banks will never like Bitcoin. We should read more books, such as currency wars. This allows us to better understand the history of currency development.
Always make statement with bank position become bad impact for bitcoin where many investor said bank have been bullish on crypto, keep mind how to get deposit and buy bitcoin without get bank support when we make deposit cash money to bitcoin local exchange account, without bank we can't invest and get profit at bitcoin and altcoin investment, we need give positive value for bank keep support and connected with exchange bitcoin account.
Of course they are bullish on private, centralized blockchains. They always have been. They are against permissionless currencies that crypto is all about. I haven't seen them changing their policy on that.
I think its a confusing sentiments about banks saying that they are bullish on crypto,at first the banks treated cryptocurrency as a competitor particularly the decentralized cryptocurrencies, i can recall before that most of their ranks are hostile towards cryptocurrency particularly bitcoin and calling it a scam,bubble,fraud etc. but i'm not disregard the fact that some of cryptocurrencies has a bank partner or client particularly the ripple(XRP), for that matter i might say that it was just a misquoted line saying"Banks are Bullish on crypto" that was my opinion.
Banks can never be bullish on decentralized crypto like bitcoin that is eliminating middle men. Banks can only support centralized crypto like xrp that favours them. Same for blockchain, I think banks are doing good with there current infrastructure they will go for only private blockchains if required in future.
that is true some of them are supporting it but it does not mean the majority are, only a bank that its country supports cryptocurrency thinks it this way.
for the majority, cryptocurrency is a threat for them because we can use it freely without the needs of third party interference and they do not have full control over it.
for the majority, cryptocurrency is a threat for them because we can use it freely without the needs of third party interference and they do not have full control over it.
Banks are bullish on crypto? I don't think so, I think banks will only have interest in Central Bank coins which are centralized cirrencies, 2020 will be the year of central bank digital coins, bitcoin halving is the only next thing I'm looking forward to this year
aren't they are bullish on the blockchain to be developed as the core for their platforms in the future? If they are seeing crypto will be very bullish and the requirements that crypto must be fully regulated to make it happen. There is a lot of parties that are still contradicting the existence of the cryptocurrency.
I can't say if banks are bullish on crypto as there are only a few banks are saying like that but almost all of the banks are still considering crypto as a threat.
Just hope they will change their mind about crypto ASAP.
I can't say if banks are bullish on crypto as there are only a few banks are saying like that but almost all of the banks are still considering crypto as a threat.
Just hope they will change their mind about crypto ASAP.
At the start of the decade, banks were some of the biggest skeptics about cryptocurrencies. However, as we near the start of the 2020s, banks seem to be heading into a more mature understanding of the cryptoassets that many of us know and covet. Banks are bullish on crypto, and it could change everything.
Previous rendezvous’
Some of the biggest banks in the world initially outed themselves as cryptocurrency skeptics. In 2017, Jamie Dimon, CEO of JPMorgan Chase, said that Bitcoin was a “fraud” and that any employee found to be trading it would be fired for being “stupid”. Even as late as April 2018, Deutsche Bank called for a regulatory crackdown on cryptocurrencies, arguing that assets like Bitcoin can lead to an increase in fraud and cybercrime.
Both Dimon and Deutsche Bank have had a change of heart since then. Dimon announced that he now recognizes blockchain’s potential influence on the future of global financial systems, and JPMorgan have released their own blockchain, Quorum.
Deutsche Bank released their Imagine 2030 report, which outlines predictions from top bank officials for the decade ahead. In this report, Deutsche Bank officials make the case for mass adoption of top cryptoassets, like Bitcoin, by 2030.
https://www.youtube.com/watch?v=WjzgQpTRSTg&t=10s
What’s in the report?
The Imagine 2030 report states that digital assets “have not managed to take off as a means of payment despite their well-known benefits, such as security, speed, minimal transaction fees, ease of storage and relevance in the digital era.” They go on to outline how this can be overcome, as regulatory hurdles from banks, financial service providers, and governments are eliminated by the common goal to get cryptocurrency to go mainstream.
According to the report, led by Jim Reid, Head of Fundamental Credit Strategy and Thematic Research, “If one of the GAFA [Google, Apple, Facebook and Amazon] (or their Chinese counterparts BATX [Baidu, Alibaba, Tencent and Xiaomi]) for example are able to overcome regulatory hurdles… this would broaden the appeal of cryptocurrencies, hasten their adoption, and give them the potential to eventually replace cash,”
https://www.youtube.com/watch?v=0DNkFaBOZ5g
The current global financial system is broken. There’s no denying that. According to the Imagine 2030 report, the system is “fragile” because of “decades of low labor costs” and inflation. Over the next 10 years, things will likely change - the current fiat system is unsustainable for working and middle class people, and “demand for alternative currencies, from gold to crypto, could take off.”
https://twitter.com/jespow/status/1128029728437260289
According to Deutsche Bank, there are three main obstacles that will need to be overcome in order for crypto to go mainstream:
- Cryptocurrencies will need to “become legitimate in the eyes of governments and regulators.''
- The second hurdle would be to bring “stability to the price, and bring[ing] advantages to both merchants and consumers.” Cryptoassets are volatile, so naturally this would be outlined in the report.
- The third hurdle must “allow for global reach in the payment market,” so, ““alliances must be forged with key stakeholders – mobile apps such as Apple Pay, Google Pay, card providers such as Visa and Mastercard, and retailers, such as Amazon and Walmart.”
However, Deutsche Bank also admits that these “solutions” open up new issues, that could lead to cyberattacks, other digital security concerns, and “basing a robust financial system entirely on electricity consumption,” (cryptoassets aren’t exactly environmentally friendly - check this out.)
The report goes onto cite growing privacy concerns as a reason that cryptoassets could become the “21st-century cash”. “Nearly two thirds of consumers prefer dematerialised to cash payments and a third are concerned by anonymity. These are the two things that cryptocurrencies do best,” the report states. Although there are coins that are total privacy coins, Bitcoin and Ethereum (the two largest coins by market cap), don’t fall into that category.
Banks are bullish on crypto, so now’s the time to get into the market. Whether you want to buy Deutsche Bank stocks or Bitcoin, get your foot in the door with the world’s largest social trading platform, eToro.
Mass adoption in the 2020s?
Banks are bullish on crypto, and that’s good for the industry. As we close off the decade, we’re still nowhere near mass adoption. However, with many banks, governments, and regulatory bodies seemingly warming up to the idea of cryptoassets, we could be in for a very good run in the 2020s. Deutsche Bank’s Imagine 2030 report is really only a small taste of what’s to come.
https://forums.nakamotonews.network/t/banks-are-bullish-on-crypto/2228
Previous rendezvous’
Some of the biggest banks in the world initially outed themselves as cryptocurrency skeptics. In 2017, Jamie Dimon, CEO of JPMorgan Chase, said that Bitcoin was a “fraud” and that any employee found to be trading it would be fired for being “stupid”. Even as late as April 2018, Deutsche Bank called for a regulatory crackdown on cryptocurrencies, arguing that assets like Bitcoin can lead to an increase in fraud and cybercrime.
Both Dimon and Deutsche Bank have had a change of heart since then. Dimon announced that he now recognizes blockchain’s potential influence on the future of global financial systems, and JPMorgan have released their own blockchain, Quorum.
Deutsche Bank released their Imagine 2030 report, which outlines predictions from top bank officials for the decade ahead. In this report, Deutsche Bank officials make the case for mass adoption of top cryptoassets, like Bitcoin, by 2030.
https://www.youtube.com/watch?v=WjzgQpTRSTg&t=10s
What’s in the report?
The Imagine 2030 report states that digital assets “have not managed to take off as a means of payment despite their well-known benefits, such as security, speed, minimal transaction fees, ease of storage and relevance in the digital era.” They go on to outline how this can be overcome, as regulatory hurdles from banks, financial service providers, and governments are eliminated by the common goal to get cryptocurrency to go mainstream.
According to the report, led by Jim Reid, Head of Fundamental Credit Strategy and Thematic Research, “If one of the GAFA [Google, Apple, Facebook and Amazon] (or their Chinese counterparts BATX [Baidu, Alibaba, Tencent and Xiaomi]) for example are able to overcome regulatory hurdles… this would broaden the appeal of cryptocurrencies, hasten their adoption, and give them the potential to eventually replace cash,”
https://www.youtube.com/watch?v=0DNkFaBOZ5g
The current global financial system is broken. There’s no denying that. According to the Imagine 2030 report, the system is “fragile” because of “decades of low labor costs” and inflation. Over the next 10 years, things will likely change - the current fiat system is unsustainable for working and middle class people, and “demand for alternative currencies, from gold to crypto, could take off.”
https://twitter.com/jespow/status/1128029728437260289
According to Deutsche Bank, there are three main obstacles that will need to be overcome in order for crypto to go mainstream:
- Cryptocurrencies will need to “become legitimate in the eyes of governments and regulators.''
- The second hurdle would be to bring “stability to the price, and bring[ing] advantages to both merchants and consumers.” Cryptoassets are volatile, so naturally this would be outlined in the report.
- The third hurdle must “allow for global reach in the payment market,” so, ““alliances must be forged with key stakeholders – mobile apps such as Apple Pay, Google Pay, card providers such as Visa and Mastercard, and retailers, such as Amazon and Walmart.”
However, Deutsche Bank also admits that these “solutions” open up new issues, that could lead to cyberattacks, other digital security concerns, and “basing a robust financial system entirely on electricity consumption,” (cryptoassets aren’t exactly environmentally friendly - check this out.)
The report goes onto cite growing privacy concerns as a reason that cryptoassets could become the “21st-century cash”. “Nearly two thirds of consumers prefer dematerialised to cash payments and a third are concerned by anonymity. These are the two things that cryptocurrencies do best,” the report states. Although there are coins that are total privacy coins, Bitcoin and Ethereum (the two largest coins by market cap), don’t fall into that category.
Banks are bullish on crypto, so now’s the time to get into the market. Whether you want to buy Deutsche Bank stocks or Bitcoin, get your foot in the door with the world’s largest social trading platform, eToro.
Mass adoption in the 2020s?
Banks are bullish on crypto, and that’s good for the industry. As we close off the decade, we’re still nowhere near mass adoption. However, with many banks, governments, and regulatory bodies seemingly warming up to the idea of cryptoassets, we could be in for a very good run in the 2020s. Deutsche Bank’s Imagine 2030 report is really only a small taste of what’s to come.
https://forums.nakamotonews.network/t/banks-are-bullish-on-crypto/2228
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