The Banking Sector Hates Bitcoin, yet They Want Blockchain

The Banks don’t want to acknowledge the existence of bitcoin, but they are all eagerly waiting in a line to implement the Bitcoin technology. Do the banks realize that there would have been no blockchain without the bitcoin? The endless opportunities these banks are seeing, where they can potentially save millions of dollars every year by using a much faster, economical and secure alternative to existing infrastructure is being made possible by the very digital currencies they are trying to ignore.

The growth of Bitcoin as an alternative currency has been a very uncomfortable development for the mainstream banking and financial sector. Even though the use of bitcoin is still limited, mainly due to slow adoption rate, its advantages against the present monetary system is well known among the people. It has been ages since a disruptive technology made inroads to the well-established financial system, which has so far been ruled by banks. They have been acting as the gatekeepers of the financial system, sometimes making decisions for the individuals about how they should save or spend the money.

Enter bitcoin and people now have an option which they never believed could exist. The democratization of the economy, where the individuals have

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