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Is Accepting Bitcoin a Reasonable Choice for Banks?

Jan 03, 2018

The buzz around the cryptocurrencies remains and we understand the mixed feeling about it. Many people still think it is just a bubble, whereas others believe that Bitcoin is the new fiat. Unfortunately, nobody can predict all perspectives for sure and all we have is a forecast and assumptions.

The rapid growth of the Bitcoin rate and dozens of successful ICOs made many entrepreneurs change their minds about this phenomenon . One of the latest news is the BNP Paribas bank expressing the official position of its governing board. They think that cryptocurrencies cannot be as reliable as the traditional currencies. They suppose that in crisis, traditional financial system is much more predictable and there is a stable scheme of bailing out. At the same time, cryptocurrencies are decentralized and sometimes it is anadvantage. Bitcoin now is a great value that proves digital currencies’ viability. It is an economic phenomenon, which can be the biggest miracle and a challenge for all the traditional economy at the same time.

Even though many banking facilities are suspicious about Bitcoin, the others have a proactive position on adding cryptocurrency services to their scope. Moreover, the CEO of the Citigroup Bank, one of the most respectable businessmen in the world, claims that some governments are ready to create their own currencies to meet the demands of evolving innovations. Not only the Citigroup speaks positively about the Bitcoin, but also other major banks in countries like China, Russia, Japan and others. They already suppose that blockchain technology and cryptocurrencies can solve many problems with trans-border transactions, fund operations and even client services.

Most Wall-Street experts are still opposing the cryptocurrency technology but development and growth of the Bitcoin cannot be denied. This is why professional traders, brokers, investors and entrepreneurs have to keep their hand on a pulse. Do not miss out the latest news updated from Offshorelicense Ltd experts. Keep your Bitcoins safe and do not hesitate to use our services when thinking of creating a new crypto-exchange or a Bitcoin bank.

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