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Of course they would. Everyone has to use banks now for electronic payment and crypto disrupts that.
by swiley 5y ago
Of course they would. Everyone has to use banks now for electronic payment and crypto disrupts that.
- smt88 5y agoThis article has nothing to do with banks discouraging crypto use. It's just about how existing regulations related to risk are applied to banks' crypto holdings.
- hanniabu 5y agoI think the point is that if the decentralized economies are used then there's no need for centralized entities like banks. Aka don't need to regulate the banks holdings if they don't act centrally.
- smt88 5y agoEvery example from history suggests that decentralization never erases middlemen. How many people self-host crypto wallets? Why does Coinbase exist? As long as things are being held, transferred, and sold, banks can build the expected financial abstractions on top of them and take a cut. There is nothing about crypto that will kill any big bank.
- xboxnolifes 5y agoIt may not kill banks, but it makes alternatives possible. I want decentralization for the same reason I try to avoid vendor lock-in. If the vendor I choose starts to go against my needs, I can choose a different vendor. If all vendors go against my needs, I can self-host. I cannot currently self-host online transactions. I have no idea how the future of cryptocurrency will play out, but I'm interested in watching.