J. Christopher Flowers Says Majority of Bitcoin Startups Will Fail

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The bitcoin village is carefree for a digital banking to turn a banking of choice opposite a universe one day. However, it might not occur anytime soon. To start with, bitcoin has a prolonged approach to go both in terms of a adoption or a technical development. Even if it looks a bit farfetched, it will eventually get there.

An aged propagandize financial services investor, J. Christopher Flowers has a opposite take on it. According to him, a fintech series what we are saying around us in a new days is going to finish badly for many startups. While vocalization during a Super Return private equity conference hold in Berlin, he mentioned that many of a choice financial services startups are leveraging on a energy of bitcoin to offer their services to those who are not catered by a mainstream banking sector. This might lead to bad lending decisions that might lead to outrageous waste in a prolonged run due to defaults.

While J. Christopher Flowers puts a lot of trust in a determined required banking system, he seems to have wanting a fact that banks feel threatened by a expansion of bitcoin industry. The banking attention is perplexing to

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