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Big Banks Take another Look at Bitcoin and Ripple

Big Banks Take another Look at Bitcoin and Ripple

April 3, 2018 9:00 am,

Big Banks Take another Look at Bitcoin and Ripple

While an increasing number of industry managers link the cryptocurrency movement as founders, consultants, and investors, there are fairly a few banking industry leaders very clear on what they deliberate about Bitcoin.

It is at stretches like these, with Bitcoin demanding to hold at the $7,500 provision and the general cryptocurrency market cap at its 2018 lows – that some investors recall Jamie Dimon’s words and question their asset choices.

One could claim, though, that cryptocurrency is in competition with banks, particularly Ripple. Negative explanations from high profile bankers come obviously given that context.

Gouran, yet, detects that banks are opening to accommodate Bitcoin dealings: “I would go as far as to say that banks are nearly inspiring the use of Bitcoin, by proposing futures on Bitcoin, and letting transfers to and from connections (with bank accounts, not with credit cards). “

Ripple too is currently measured as a chance for banks rather than a risk: “I trust Ripple proposals a feasible blockchain solution and a huge amount of utility to banks”, said Darren Marble, Chief Management Officer of CrowdfundX, expressed Forbes.

“As such, I do not trust that big banks will essentially crush either Ripple or Bitcoin for that matter. Though banks are vigorously participating in and working to grow blockchain-based solutions, it’s going to take a bit extra time for banks to come around to the hint of depending on a cryptocurrency and for the industry to become more recognized. I trust banks are keeping a close eye on Ripple. This isn’t going to happen overnight.”

In spite of the growing implementation of the technology behind Bitcoin and Ripple by the banking industry, it does not establish a straight link to the price of the two digital currencies.