Bankers Lie About Disruption, Don’t Understand Technology
A lot of people have lost confidence in bankers throughout the years. It seems those concerns are more than valid, as banks have no interest in being a serious brand, and they remain blind to the coming changes. Very little has changed within the banking industry over the past handful of decades, and some serious questions need to be answered. From the....
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Sometimes it is hard to understand just how little finance institutions actually understand blockchain technology. While blockchain is certainly not a panacea for financial institutions, it’s pretty close. And SWIFT is certainly no match. In a recent article featured on the website American Banker, the ability for blockchain tech to render an antiquated settlement and messaging technology called SWIFT was discussed. Apparently the mere mention of blockchain displacing SWIFT was shocking to bankers. That is just how ready for, forgive me for dropping this word, disruption these groups are.....
An understanding of what bitcoin is, how it works and its various features and benefits have, in the bitcoin space, traditionally been viewed as a key component of mainstream adoption. How can the general public be expected to switch from things like PayPal, fiat, Visa etc., if they don’t understand how what they are switching to works? There is some common sense in this view. Individuals who lack an understanding of cryptocurrency are more often than not intimidated by its seeming complexity, and this puts them off using it to transact. The conclusions of a recent study, however, go....
I walked up to a businessman friend a few days ago and asked him point blank: “Do you know what bitcoin is?” He stared at me and blinked twice. He really didn’t need to reply, his facial expression was a dead giveaway. He didn’t have a clue. Here lies the problem, when many of us Filipinos, rich and poor alike, are struggling to get out of the so-called rat race of eat-sleep-work-pay-bills, we do not have any inkling of the advances in finance, investments and technology that could help us in our quest to financial freedom. Blame it on the banks for never introducing us to such concepts....
Central authorities and major financial institutions responded to the emergence of Bitcoin by targeting the development of its underlying technology in attempt to distract the real value of the digital currency. Experts have criticized the desperate attempts of banks in adopting the technology, describing that blockchain is a euphemism for people that don’t understand Bitcoin. Since 2015, banks have poured hundreds of millions of dollars in capital and a significant share of their resources for the development of private blockchain networks. In an awkward series of events, the blockchain....
Xapo CEO and founder Wences Casares explains the history of money in a Big Think video about Bitcoin. His explanation of the history of money is below. “Bitcoin is a new digital currency that is perhaps the best form of money that we have ever seen. It’s important because most of us don’t understand money very well and perhaps the concept that is harder for us to understand is that money is and has always been a ledger. …the best way to understand money is to understand the history of money.