Banks are afraid that Bitcoin can take them out of the game

Bankers and industry leaders in Texas have recently discussed bitcoins and blockade technology. The main issue was the ability to involve banks in the use of cryptography, in order not to stay on the road of progress. However, some representatives of the banking industry expressed their strong concern that bitcoin could undermine the banking system and change the financial landscape.

Alex O'Brien, president of Bank of Commerce, published yesterday in the Amarillo Local News, commented on his position:

"I'm afraid of the banking industry. The bitcoin can bring the jars out of the game. "

But, despite the fact that O'Brien worries about the future of banking, he recalled that he really liked the concept of currency based on blockade.

"This is a really correct concept if we consider bitcoin as an international currency: there are no borders for it, and nobody controls it, which is also correct. I like this technology, and I hope we can find a way to participate in it. "

John Lowry, Chief Technical Officer of EnergyNet - Amarillo Oil and Gas Auction, said that in the case of bitcoins, banks should try to play ahead. He mentioned that if the banks do not have employees who will understand the cryptic currency, then the new technologies will leave them far behind.

Ultimately, the bankers came to the conclusion that digital automation can change the face of the industry. Convenience of digital currencies makes work on entering the data in the register one-time and potentially canceling a number of roles in banking activities.

The article reads: "As of 2014, the region has registered 6.6 thousand employees of the financial sector, according to the Texas Labor Commission. Lower levels may be canceled, or banks will not be recruiting staff for these positions, as today they are increasingly investing in Internet services. "