Can UK bank protocols protect Bitcoin users?
David Gilson over at CoinDesk tries to offer a balanced perspective on traditional banking and the safeguards they implement for security. These he contrasts with the safeguards Bitcoin lacks and suggests that some improvements could be made to the digital currency. First, he suggests that the UK’s financial institutions’ safeguards against fraud and retail disputes offer a level of security that Bitcoin does not. Next, he discusses savings accounts and how government guarantees protect against losses of up to 85,000 GBP per customer, per institution. So, if a bank goes bankrupt, the....
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