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RE: Will Banks Be "Amazon-ed" By Cryptocurrencies?
It seems banks will be in a serious problem in the future because of cryptocurrencies...Anonymity, peer-to-peer transcations without of supervision of third party are main concern...If banks want to stay in monetary systems-they must evolve,and find other ways to protect their interests..Fiat is going to history,it is obvious
Very true. The banking establishment is under attack from all side. Mortgages are now available online. Organizations are able to get funded from crowdfunding campaigns instead of beholding themselves to the banksters. People are storing their money in the crypto world as opposed to a saving account. Alternatives to the banksters are popping up in terms of investing, borrowing, and lending. Even micro lending is taking a chunk out of their pockets.
Banks will come out with their own crypto currencies and will say "if you want to transact with us, use our crypto" - this is what Ripple will encapsulate.
I dont trust them The blockchain is a threat to them but I do not underestimate their ability to control things. They have the politicians in their pockets and spread the news as they see fit. It is a powerful 1-2 combination.