The future of man's finances rests with cryptocurrencies in a world where fiat money is in constant decline in value and complete inflationary.
At the time of the emergence of Bitcoin created and designed by Nakamoto, man should be the center of economic activities carried out between two parties, free from state control and directly peer-to-peer payments. The man would be his own Bank and would make transactions quickly, dynamically and securely. These same transactions should be of a cheap nature (thus capturing more people for its adoption) decentralized and in full control of the user.
Years passed and the same type of payment was tampered with, involving unforeseen parties to operate Bitcoin and giving rise to a new system of 'bank money' as banks and even governments (in the case of El Salvador) began to approve the asset. as legal tender.
Banks versus Bitcoin Cash/Cryptocurrencies
One of the most ridiculous things in this whole process is that banks at first did not accept transactions involving digital currencies and even blocked or restricted access to their services to customers who dared to pay for cryptocurrencies using their instruments (credit card or Visa debit) and even reached to the extreme of freezing customer funds just because they interact with the use of Bitcoin Cash or other types of cryptocurrencies.
To the great surprise and surprise of many, in recent times these banking organizations have started to emerge as big supporters of cryptocurrencies and others even hold this type of asset.
But why is adoption fast?!
Well, it's a bit obvious that these financial institutions have started to adopt, or even accept that their clients acquire these assets as part of their business strategy. Exactly, business strategy, after all, when its customers were banned or restricted from using banking instruments to acquire this type of asset, they used other means to acquire them, whether in a peer-to-peer brokerage or even buying in people that you have them quickly and easily.
The banks felt that their main capital injectors were migrating to a more decentralized payment system that does not require human intervention, found themselves on the verge of losing their customers, so the most logical thing was to accept and control the situation. Also, a new world monetary order has opened up in the crypto world and not to accept this would be to accept economic suicide.
Banks can't deny the evolution of currencies, but embrace the new wave and maybe even buy a good number of cryptocurrencies that will turn into the future of economy!
But it is feasible Banks hold cryptocurrencies
In an increasingly cryptographic world where billions of dollars are being invested almost every day it would be stupid not to accept the rapid expansion of decentralized currencies. There is a new financial order and this is the cryptocurrency industry.
In the past it would be easy to ignore this type of currency, but nowadays it is considered stupid to not embrace and accept that cryptocurrency is money.
Therefore, we can ensure that banks, although it is not the purpose of cryptocurrencies, they must accept their use (by customers) and thus keep their range of customers assured. But beware, they cannot and should not dictate its operation or control how much their customers invest in these assets.
But should Bitcoin Cash and other decentralized currencies have a connection with banks
In my opinion, I think Bitcoin Cash was created for the people to give back financial freedom long ago stolen. This freedom ensures that everyone should have the right to choose where to put their money and never a state imposition that does this as a way to ensure that everyone pays taxes.
But is this necessary?!
Of course not. The Man is free and he should be the one to decide where to put his value, that is, choose how to store money in a fast, dynamic and secure way, and when he wants to use it to pay very low fees.
Banks should not even get involved in this type of negotiation but allow their client to also acquire investments in this type of economy, after all the world has evolved and this new economy is getting stronger.
The only connection of banks with cryptocurrencies should be to give permission to their customer to interact with this world, making it easier for them to use their banking instruments in these transactions, after all, the same customer has the right to invest wherever they want.
Bitcoin Cash was not created for the banking system
It is necessary to remember that Bitcoin Cash was not created for banking use, but for human use, from people to people, where man would be his own Bank.
But, with the growth of the cryptocurrency industry, banks will come on the verge of getting involved in this wave, but not as mere users but wanting to give their word on the matter. This meddling by financial institutions does nothing good for this medium, taking away from the whole purpose of creating cryptocurrencies.
Bitcoin Cash was created with the purpose of being a new form of decentralized digital money, Digital Cash accepted by everyone and benefiting everyone.
Banks have restrictions and don't allow all customers to access all their services, while Bitcoin Cash is for everyone and created by the people.
Final considerations
Bitcoin Cash is for the people and its main foundation is to ensure that everyone is free to choose where best to put the money to work for the people, it was made by the people and for the people, who are the main beneficiaries of this decentralized technological innovation.
Everyone can use it without restrictions and it can be national or even international, it has no borders and it is easy, fast and completely safe to use.
While banks are financial institutions that are not for the whole world, they have restrictions and the customer can no longer have access at any time, they are regulated by the state and are strictly controlled. Now they are opening up more to technological innovations such as cryptocurrencies, but make no mistake, they still don't accept it in its entirety, but you have to explore options that your customers are betting on and thus ensure the flow of bank liquidity in your transactions.
Bitcoin Cash is for the people whereas banks are not!
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Hello my friend,
Your article correctly touches on various points of the future economy. I think that private banking, as we know it today, will disappear.
Centralized public banking will use the blockchain in an effort not to lose control. Rather, they will seek to maximize control.
It is up to us to bet on options that totally free us like BCH.