It seems like big banks directly or indirectly control the biggest media sources that are aggressively spreading negative rumors about digital coins. No longer will rumors continue to negatively affect cryptocurrency prices. In fact, one of the most recent scandals involving money laundering in Deutsche Bank makes the case for crypto even stronger.
Cryptocurrency Will Destroy Banks: Big Banks Practice Money Laundering
Police recently raided Deutsche Bank for practicing money laundering activities dating back to the Panama Papers. The German lender helped its clients set up offshore accounts to keep their cash there illegally. The recent incident proves that even arguably reputable banks are not sinless. However, the mainstream media did not dare to talk negative things about large financial institutions. Now, it will get harder for bankers to control the mainstream media.
Cryptocurrency Will Destroy Banks: Why Cryptocurrency Will Make Banks Obsolete
The banking system is old and rusty. People are tired of middlemen “stealing” from the majority. Despite all of the negativity in the media these days, it is clear that cryptocurrency will take over once again. This time, the exposure will be even more significant.
In January 2019, the global financial ecosystem Bakkt will begin its operations. Because the institution is planning to offer Bitcoin Daily Futures, the new cryptocurrency hype is inevitable. With hype will come the reward. Thus, no matter how resistant and aggressive banks get, it will be difficult to stop the digital tech revolution.
Cryptocurrency Will Destroy Banks: Digital Coins Will Be Used for Payments
Today, people view Bitcoin, Ethereum, and Ripple as financial assets. There is presently not enough financial infrastructure to maintain payments via digital coins. However, the game is about to change. During the past several months of the severe Crypto Winter, applications like Sylo managed to gain momentum and introduce easy-to-use payment solutions to the crowd. With quality applications like this, U.S. regulators will be more willing to accept FinTech alternatives offered by the decentralized world. The change in the crypto field is inevitable. It is just a matter of time.