Having a cryptobanks defeat the purpose of having a decentralized system of payments/transactions as cryptocurrencies (like bitcoin) does not rely on third-party institutions. But we cannot deny that shifting to a digitalized form of payment may be the future if the whole-world will adopt to this kind of change. If that happens, expect the government to regulate and impose taxation.
Before cryptobanks become future, cryptomarket should:
1. Be regulated by governments and international organizations;
2. Choose which cryptocurrency will be used as a way of payment;
3. Update the technology and provide safety of system.
So, if these problem will be fixed, maybe cryptobanks will become our future
The only way that I see cryptocurrencies as a way of payment is when its price stabilizes and becomes less-volatile. If the price continues to be volatile, it may brinng financial imbalance and harm to the country and may result to inflation. Not to mention, they need to address the issue of scarcity as bitcoin only has 21 million at the moment.
Before cryptobanks become future, cryptomarket should:
1. Be regulated by governments and international organizations;
2. Choose which cryptocurrency will be used as a way of payment;
3. Update the technology and provide safety of system.
So, if these problem will be fixed, maybe cryptobanks will become our future
The only way that I see cryptocurrencies as a way of payment is when its price stabilizes and becomes less-volatile. If the price continues to be volatile, it may brinng financial imbalance and harm to the country and may result to inflation. Not to mention, they need to address the issue of scarcity as bitcoin only has 21 million at the moment.