There was a time when the Bitcoin was invisible and almost absent of the topics of discussion. At the time, it was not an original idea ; a digital currency used by thieves and smugglers of drugs through the dark web. Today, this same small pushy just push the models already established. The Bitcoin, Ethereum, the ICO and the technology Blockcahin are almost on everyone’s lips. In addition, the Bitcoin is now a legitimate threat to traditional banks.
Banks are in the crosshairs of the Bitcoin
The rise of Bitcoin, as well as the adoption and acceptance of the general public have led banks and financial regulatory authorities to become very suspicious. In fact, this crypto-currency puts into question the monetary system of the banks, especially central banks supported by governments. Also, most recently, Japan and the United States have made more or less rigorous in the control of this decentralized currency. In fact, organizations are centralized and powerful as the banks, the governments, financial regulators and the tech giants are spending a lot of money to find out how to use and control this technological innovation.
A decentralized nature which makes fear
Banks have existed for hundreds of years ; this is the essential element. The Bitcoin, supported by a solid platform as the technology Blockchain, it is presented as a ghost who is incredibly difficult to control because of its decentralized nature. The power and control of money are removed from the traditional institutions. Indeed, individuals may now participate in any trust for the direct exchange and peer-to-peer with strangers. They no longer have need of a central institution for vouching for the other party. This is the greatest fear of traditional financial institutions.
Source : Cointelegraph