Bitcoin Suisse Founder: European Banks Will Soon Offer Bitcoin Wallets

Bitcoin Suisse Founder: European Banks Will Soon Offer Bitcoin Wallets

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Bitcoin Suisse founder, Niklas Nikolajsen, has said that European bank accounts will eventually be offering bitcoin wallets.

In an interview with at the Fintech Conference Finance 2.0, Nikolajsen explained that while European banks will soon be providing bitcoin wallets he didn’t specify which banks these would be, only that it would ‘not be an exotic bank.’

While digital currencies such as bitcoin are faster and cheaper than traditional banking methods, it seems that the notion that banks will be providing bitcoin wallets anytime soon is unrealistic. Nikolajsen seems to think, though, that the change to the banking system will take place by the end of 2016.

The Issue of Private Keys

One of the issues highlighted has to do with private keys. Those who have access to their private key can freely spend the bitcoins linked to that particular account.

However, if banks do eventually end up providing bitcoin wallets to their customers, they will be required to hand over the control of those particular private keys.

It remains to be seen whether or not this would be the case, which in

Read more ... source: TheBitcoinNews

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