My taughts:
There is little danger to the economy from banks serving as custodians and transfer agents for cryptocurrencies. Nor do I think that investment firms that make investments in cryptocurrencies for their clients is a risk to the economy
Please share yours🙏🙏
How can banks be transfer agents of Cryptos? Won't it defy the very essence of crypto itself? Crypto means when you need no custodian or intermediary, moreover what will the purpose of bank be? Instead banks might function as exchanges to help people buy sell different Cryptocurrency because this thing would definitely need any intermediary. Also bitcoin cannot be dangerous for any Economy, but yes it's implications on the economy as a whole will be very interesting to see as we have never been part of a system without any intermediary.There is little danger to the economy from banks serving as custodians and transfer agents for cryptocurrencies. Nor do I think that investment firms that make investments in cryptocurrencies for their clients is a risk to the economy
Please share yours🙏🙏
I am not sure if he meant it the way he said it but indeed if banks are supposed to work as custodians for decentralized cryptocurrencies we don't really need any cryptocurrencies in the first place!
The goal is to put a bank in everyone's pocket such that they can manage their own financial affairs freely and independently and privately. What needs to improve is security and usability on the level of the individual user though.