Blockchain Will Empower Banks, Not Destroy Them
Bitcoiners champion how blockchain technology could undermine the financial system and effectively destroy banks. Bitcoiners mention how banks are going the way of the buffalo and blockchain inspired technology – or simply Bitcoin – will revolutionize the way the world does, basically, everything. Bitcoin, they say, will allow individuals to become their own banks. But, what if the opposite is happening? Many people on the opposite side of the aisle believe that blockchain technology will cut overhead so much that the record profits big banks have made in recent years will look small.....
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The debate over Bitcoin’s future relationship with the banking system has come a long way in the last year. In 2014, the discussion was speculative for the most part, as major banks had not yet weighed in on the digital currency. However, in the first half of 2015, banks began taking more interest in Bitcoin. More specifically, several banks have been....
On the Nasdaq website, Martin Tillier asks, "Could Bitcoin Destroy the Global Banking System?"Tillier imagines a possible "Kodak moment" for the whole banking industry. In the early days of mobile phones, only a few enthusiasts dared to imagine that camera-equipped phones could ever threaten established camera manufacturers, but Kodak was forced to declare bankruptcy only a few years later, in 2012. Tillier's answer is that yes, Bitcoin could seriously hurt the banking system. The reason is very simple:"Banks are so used to taking a cut every time money changes hands that they cannot....
Blockchain technology proponents are staking claims in Africa, paying special attention to banks. Six African banking institutions are making sure financial tech doesn’t disrupt their businesses by working together to connect their systems with distributed ledgers. Absa & Barclays Africa Testing Multiple Platforms Across the South African Region. One....
The distributors of evil have arisen from the fires of hell and seek to destroy all in their path.
Venture capitals may like the ideas of other public chains like R3 but they will later realize that Bitcoin is the real thing after the Blockchain bubble bursts, says angel investor in Bitcoin and Ethereum startups, Chandler Guo. He said in his interview with ether.camp at the Clare Hall of the University of Cambridge: “We’ve come to revolutionize them, not to be in cooperation with them. So we don’t like them. They are a big company, banking idea. We come here to use Bitcoin to destroy their system, not to follow them.” He also suggested that the price of Bitcoin could reach $10,000 or....