01-04-2022, 10:13 PM
Many people believe that cryptocurrency will "kill" banks, but it might also be a co
<!-- SC_OFF --><div class="md"><p>I just saw this <a href="https://www.newsbtc.com/news/company/could-crypto-adoption-represent-a-compliance-opportunity-for-banks/">article</a> and I was thinking about how banks and crypto can work together. </p> <p>Since the first merchants in history, banks have existed in some form. They became the religious ruling elite, which evolved into the privately owned and government-subsidized enterprises that we see now today. And as we all know, banks have monopolies over people's money.</p> <p>And they're doing a great job at it too. This is a record profit every year, paid for with your money. Banks have unlimited cash at their disposal. Nobody is a crypto expert, but everyone has money in a bank, and it's generating bank record profits quarter after quarter. </p> <p>Meanwhile, crypto is providing people with a new source of income. Banks despise this since it has a direct impact on their company, affects their enormous monopoly, and reduces their profit margins, among other things.</p> <p>Cryptocurrency and DeFi are not intended to destabilize existing banking, but rather to drive banks and established financial institutions to adapt and compete in an ever changing market. </p> <p>This can assist banks in escaping the dark ages, dismantling monopolies, and attaining financial independence and knowledge.</p> <p>The way I see it, Banks will never go out of business. Cryptocurrency has the potential to revolutionize the way banks work.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TimikaWestfield"> /u/TimikaWestfield </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvq7d5/many_people_believe_that_cryptocurrency_will_kill/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvq7d5/many_people_believe_that_cryptocurrency_will_kill/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I just saw this <a href="https://www.newsbtc.com/news/company/could-crypto-adoption-represent-a-compliance-opportunity-for-banks/">article</a> and I was thinking about how banks and crypto can work together. </p> <p>Since the first merchants in history, banks have existed in some form. They became the religious ruling elite, which evolved into the privately owned and government-subsidized enterprises that we see now today. And as we all know, banks have monopolies over people's money.</p> <p>And they're doing a great job at it too. This is a record profit every year, paid for with your money. Banks have unlimited cash at their disposal. Nobody is a crypto expert, but everyone has money in a bank, and it's generating bank record profits quarter after quarter. </p> <p>Meanwhile, crypto is providing people with a new source of income. Banks despise this since it has a direct impact on their company, affects their enormous monopoly, and reduces their profit margins, among other things.</p> <p>Cryptocurrency and DeFi are not intended to destabilize existing banking, but rather to drive banks and established financial institutions to adapt and compete in an ever changing market. </p> <p>This can assist banks in escaping the dark ages, dismantling monopolies, and attaining financial independence and knowledge.</p> <p>The way I see it, Banks will never go out of business. Cryptocurrency has the potential to revolutionize the way banks work.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/TimikaWestfield"> /u/TimikaWestfield </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvq7d5/many_people_believe_that_cryptocurrency_will_kill/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rvq7d5/many_people_believe_that_cryptocurrency_will_kill/">[comments]</a></span>Kind Regards R