Quote from: alyssa85 on October 06, 2019, 12:59:07 PM

Quote from: Yatsan on October 06, 2019, 12:48:30 PM

Blockchain would help the financial system in industrial revolution but banks would not let cryptocurrency take over them and so the government. Decentralized system is scary where the core of the society is speculation and theory. Blockchain should be adopted in a well manner, where there will be halfway for purpose and efficiency rather than just speed of transactions. Japan are trying to provide an international network for cryptocurrency like SWIFT that is used by banks to avoid frauds but Japan stated that it is still unclear how the network would work and so proposing and testing are still on process. Blockchain will level up the ongoing revolution as it is applicable on various fields not only in terms of financial and security.

I don't think banks really care. They make their money by charging interest on lending.

But development crypto will continue not only to become a currency, it could be that in future blockchain and crypto technology will be able to get rid of bank loan system. Therefore, many banks do not approve of crypto, because they are also worried that people will not keep their money in bank and keep in mind that banks do not live on loans but on savings of customers who are playing.

Quote from: alyssa85 on October 06, 2019, 12:59:07 PM

Blockchain doesn't interfere with that at all, instead it makes the movement of money cheaper.

It's governments who don't like blockchain (because it usurps the govt's function of being the sole issuer of money).

In my opinion the government does not need to worry about that, if they cannot print money but they still have full authority in managing digital money. Well like a centralized crypto, they still have regulations and are supervised.