Conventional Banks Intentionally Impede Crypto Companies

[slavaan]

This is really sad and annoying! According to a new report, many of all those huge corporate banks are deliberately hindering crypto companies in conducting regular banking businesses that are necessary!

https://all-stocks.net/report-conventional-banking-giants-deny-access-to-crypto-and-blockchain-firms/

This just shows how banks see decentralized monetary systems as a threat and how they want to limit their growth while taking over with their own platforms and systems. I don't think they can win this battle though, and ultimately digital currencies will become mainstream.
 

[Absentt]

Their last act of defiance if u ask me! Of course they feel threatened by cryptocurrencies, as it is something they have no (direct) control over whatsoever. Cryptos becoming the means of trade and commerce of the future is a FACT, so personally I don't see a point in resisting, the better option is to adapt (with a little improv and overcoming on the side, Grylls pun intended)! The major "banking giants" as the article above has put it, wouldn't be major if not for elegant insight, investment and hard work, so why are they acting (a bit stupd) like this now? Could it be that they're finally scared and are panicking? Could it be that they've realized something about cryptos that we haven't? Are they influenced by some secret world conquering organization and are just mere pawns? I don't know! But I believe time will tell!

[skillex]

They are really annoying. They always hinder to accept services from digital currencies.Here in PH never did I see the bitcoin wallets been directly link to any atm banks. Maybe because they cant take taxes or money from using it obviously.

[polor12]

But this should been expected right...since no major corp has a real hold on crypto, major bank companies tried to but failed...so whats the next thing they should do..for those who back up crypto a long obstacle is ahead..

[williamshennie9]

Of course they will - cryptos disrupt normal business operations. Companies do this when they are threatened, so it is a sign they view crypto as a serious threat to them, which is good for the crypto market

[nuuuitsjdragon]

14 hours ago, slavaan said:

This is really sad and annoying! According to a new report, many of all those huge corporate banks are deliberately hindering crypto companies in conducting regular banking businesses that are necessary!

https://all-stocks.net/report-conventional-banking-giants-deny-access-to-crypto-and-blockchain-firms/

This just shows how banks see decentralized monetary systems as a threat and how they want to limit their growth while taking over with their own platforms and systems. I don't think they can win this battle though, and ultimately digital currencies will become mainstream.
 

Can we have a discussion/debate for once whereby both camps of users realise there's a different use-case for both crypto/fiat and I believe they must survive alongside one another, providing either security/transparency for its Crypto users; speed/convenience for traditional fiat/visa users.

There's only but a limit to how many transactions can be done a second, entirely because of the way Cryptocurrencies work - by having features like privacy or systems which don't require any trust. The more speed you desire & tx(s)/second the more some of these features have to be sacrificed. 

By that logic I feel there's no purpose behind chasing the features that VISA already has, like speed, international support and ease of usage. Moreover, their entire ecosystem is much better put in place to support these crazy amounts of tx(s). In summary, past a certain point where no. of transactions are at least acceptable - Cryptocurrencies should really work on what sets them apart from the traditional crowd instead of trying to be yet another "VISA". 

[Kate]

To be honest they can actually win the battle since they are the main cooperate through which transaction happen through.