Quote from: Babylon on April 20, 2019, 06:47:28 AM

They are against the cryptocurrency because they know that the people are now losing interest in banks because they are not satisfy anymore to the interest and also to the offers of the banks while the cryptocurrencies are offering a higher interest for their money in terms of profit making by just investing in a decentralized cryptocurrency like bitcoin.

Yes. People are seeking for ways to avoid banks, due to their high fees and low interest rates. Not to mention, Banks are centralized financial institutions which are backed by the government, making them fully compliant with regulations. This means, that Banks can freeze an individual's account or do whatever they desire with it. With decentralized cryptocurrencies such as Bitcoin and Ethereum, this is no longer possible as the system is free and open to anyone around the world without a central authority.

That's why, Banks have been against crypto from their very beginnings. Despite this, Banks seem more inclined to using Blockchain technology for their own benefit, rather than adopting an already-established cryptocurrency like Bitcoin or Ethereum. But if crypto continues to exist, you'll see that Banks will be opposed to their development.

Nonetheless, it's hoped that as crypto becomes more regulated and governments take a friendly stance towards them, Banks would part their separate ways by relying on a private Blockchain network built by themselves. It could be either Ripple, IBM's World Wire Network, or another Blockchain payments framework. Just my thoughts Grin