There is no stopping this train.
People need to stop believing the FUD. There is something revolutionary that is taking place. It is starting to overwhelm one of the most powerful forces on this planet, the banksters.
Cryptocurrency is not going away. Blockchain is 100 times more powerful and disruptive than the Internet was in the 1990s. This is a recipe that is going to smack the banksters right in the face.
The attacks of the last couple months reflect how the banksters view this. If it was not a threat, they would simply ignore it.
What is astonishing is that a bankster would openly admit the threat. Yet this is exactly what one of the most senior executives at Deutsche Bank did.
Marcus Schenck believes that bank accounts could disappear in as little as 5 years, most likely within 15 years.
This is a bankster that is admitting the digital wallets that contain cryptocurrency are likely to destroy a major aspect of their business.
Bitcoin and other cryptocurrency wallets are already widespread, but many believe their usage could spread even more rapidly in the future as cryptocurrencies themselves are more widely used.
This eliminates the need for a third party like a bank. People also will be able to use this for more direct payments. This is another big challenge for banks.
As more individuals and institutions handle payments direct, the job of moving hundreds of billions of dollars around is removed.
Finally, at least in the United States, this could post a huge problem for banks because of the fractional reserve system. If people are keeping their money in a digital wallet and not in the bank, it is not able to lend 9x multiple on that money.
The banksters will attack, complain, and try to adapt yet it will all be for naught. At the end of the day, they are losing control over money. This is starting to spread across the board. Each new account that is opened upon the STEEM blockchain is another wallet that can hold cryptocurrency. This will keep growing month after month, not only on this blockchain but on Bitcoin, Litecoin, Ethereum, and many others.
One thing is for certain, the banksters are going to be in trouble when there are a few hundred million wallets out there.
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