Bitcoin and the banking sector do not go well together - it is a known fact. But as the importance of bitcoin in the current global economy increases, it is becoming hard for the banks to ignore the digital currency completely. Last week WB21, a digital bank announced that it will soon start accepting Bitcoin deposits. By doing so, WB21 became the first banking institution in the world to make ...
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The banks were never charmed about Bitcoin for multiple reasons. For starters, when the digital currency was first introduced following the collapse of the US banking system, it was hailed as the killer of the traditional banking sector. As time passed, the digital currency gained enough traction to actually threaten the traditional banking industry with its easy and fast transactions at literally...
These days, there is a lot of debate on whether or not banks should collaborate with Fintech and Bitcoin players to bring more innovation to the financial sector. Resisting this seemingly inevitable shift will cost several billion AUD in revenues for Australian banks, according to a recent report. Also read: Rusty Russell Proposes Generic Addresses for Bitcoin Wallets Banks Need To Collaborate...