Binance Crypto exchange opened for business in fall of 2017. Binance is an international multi-language cryptocurrency exchange. The service raised 15 million dollars in a July 2017 Initial Coin Offering for its ERC20 BNB token. They have offices in Taiwan and now Malta (beautiful small island in the Mediterranean) which is crypto friendly. After 8 months of operation, Binance, made more money the 1st quarter of 2018, than the 148 year old Deutsche Bank of Germany (the largest Germany Bank if you include all of its derivative holdings). Here is what is happening quickly in the international finance market.
Banks are close to extinction. The Fiat paper money system has run its course. The global banking empire is experiencing a massive "Brain Drain" with key talent fleeing banks and going to work for crypto currency corporations and or crypto start ups. Explain to me how Binance, with 100 employees out performed Deutsche Bank with over 100,000 employees? There is no way banks can compete with the speed, efficiency and costs of crypto currencies. Remember, history was made on April 21st when $99 million dollars was transferred in seconds for a cost of just $0.44 cents using Litecoin. Try doing this at any global banking center. You can't, period. The banking system is dead. Get out of it now.
I do not feel safe depositing money at any bank and becoming an instant unsecured creditor to that bank. One of these days, we will go to sleep on a Friday night and come Monday morning the banks will not be open. Sorry, the news will say, we are closed due to a cyber security attack. Funds are not accessible until further notice. This scenario can not happen with crypto currencies. With cryptos, you own and control your digital money. There is no 3rd party between you and your money. You are not holding a debt note that is someone else liability. Cryptos can be used anywhere in the world at the speed of the internet.
image from: cryptoobase.com
reference articles; https://www.ccn.com/binance-surpassed-germanys-biggest-bank-deutsche-in-profitability/
https://www.tecnologia.press/en/2018/04/22/someone-moved-99-million-dollars-in-litecoin-with-a-cost-of-just-0-40-cents/id=rusbell/