Banks adopting blockchain
Mr. Mark Carney of the Bank of England has opened the dialogue of cryptocurrencies in central banking. With England renewing their process of looking into a state funded cryptocurrency this shows that the world is slowly changing to and embrace cryptocurrency which will help to bring in a new source of investments for cryptocurrencies. By releasing a statement "there was no reason to believe that adopting a CBDC would negatively impact the UK economy, specifically private credit or total “liquidity provision”." There is hope that banks will slowly adopt to Cryptocurrencies and while it was established as a way to get away from banks and government control it wouldn't be the worse way to obtain new blood into the world of cryptocurriences.
Through this shift of banks allowing cryptocurriences not only to exist but are actually beginning to support them it will allow cryptocurriences to reach new groups of investors that have not heard about them yet. While also allowing people a way to invest in their own countries economy which can even open a new level of nationalism that would bring a influx of money for any countries economy.
Another example of countries and banks adapting to cryptocurriences is Argentina moving from Swift and replacing it with Bitcoin. "“The service allows you to reduce costs associated with international transfers as there are no international banks as intermediaries,” said Banco Masventas." This shows that banks can see a way that they can cut cost and move money faster through block chain while they only have to pay a smaller transaction fee to the miners which would be a fraction of what they are currently paying with a faster way to move money internationally.
https://www.ccn.com/argentinian-bank-drops-out-of-swift-favors-bitcoin-and-cryptocurrency/
The final part of evidence we have to see is that banks are warming up to is the about face the national Bank of Kenya. Their Central Bank Governor, Dr. Patrick Njoroge had in the past issued two public decrees against not only bitcoin but all cryptocurrencies as frauds and not to invest any money in these fields. However as time has gone on as public perception of cryptocurriences has changed Dr. Njoroge has changed his mind and said that they (the Bank of Kenya) will begin to start a process regulate Bitcoin and other cryptocurrencies.
It is these changes that will bring about a new group of cryptocurrency enthusiast and hopefully a new and brighter future for all cryptocurrencies.
@djimirji up!
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