The article discusses the inevitable rise of Bitcoin custody services by banks, specifically citing Germany's 2020 decision to allow this. It underscores the essential role banks play in the economy, particularly in facilitating loans and providing customer support. While there may be a generational shift toward decentralized finance, the need for trusted, centralized banking solutions remains prevalent in society. The article emphasizes that the progression toward this new landscape will not happen overnight, but it is certain that banks will adapt to manage cryptocurrencies successfully.
It’s just a question of when? Germany cleared banks to custody and handle Bitcoin and Bitcoin accounts for customers starting 2020. Who will be the first?
Banks don’t exist just to hold your money for you and process payments. They make loans...allowing entrepreneurs to engage in endeavors they otherwise would not be able to finance.
People like having someone to call for customer support. It’s why people have a Google or Facebook account and don’t run their own SMTP server.
This is going to be a generational thing. It’s not going to happen overnight... But I do know the world is like today, and I do know the reasons.
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