There is a logical explanation for this.
First, the volatility inherent in digital assets. The fact is that the main goal of every bank is to make a profit. The slightest fluctuation in the cryptocurrency market increases the risk of reducing all projected profits to zero. Today, cryptocurrency is showing a certain stability, but even despite these indicators, most financial institutions still prefer to provide traditional banking services for corporate clients, whose activities they understand.
Decentralized Cryptocurrency is not controlled or limited by anyone alone, there is no single administrator and regulator. Not a single financial, tax, government organization can influence the actions of participants in the payment system.
Ethereum is a multifunctional virtual platform on which blockchain-based applications (online services) are created. Applications work as "smart contracts (smart contracts)" that exclude third parties (intermediaries) in the transaction process. On their basis, it is possible to create a platform that will stimulate banks to lend against the security of cryptocurrency without fear of losses, and this, in turn, will interest the financial sector to place its assets in cryptocurrency?
In solving this problem, I took as an example the existing US financial system.
Assuming that Ethereum is the Dollar, and the smart contract is the Office of the Comptroller of the Currency of the United States (OCC), and ETH-WORLD tokens are the Securities of the US Treasury, we get a financial model of a new decentralized economic system based on cryptocurrency. I implemented all this in my project, in contrast to the existing Fiat, it completely lacks an external emission regulator and is managed by the smart contract program.
http://prosh.info/smart_eng.htmlBanks have been around for centuries now, they are juggernauts with huge and archaic data systems driving them. They are also a business that relies on an immaculate reputation of trust, if their brand gets associated with.. let's say an exchange wallet getting hacked then it could absolutely ruin them and no bank chief executive is going to tolerate that. They are a business that naturally adapts slowly so it should be unsurprising to anyone that it will take them a while to see the value of Bitcoin. Cryptocurrency is also a direct threat to their business model which can involve taking small transaction fees at certain stages, but eventually they will come around the cryptocurrency - especially when you see other giants like Paypal trying to take a slice of the action.