Israeli P.M says, Bitcoin can Replace the Banks

Nishanth Shetty

Nishanth Shetty

December 15, 2017 6:54 am

Israeli P.M says, Bitcoin can Replace the Banks | Coindelite News
2384 Total Views

Bitcoin News

Israeli Prime Minister (PM) Benjamin Netanyahu said that the process of traditional banks will eventually become outdated and can be replaced by Bitcoin. he described on the basis of the trustless nature of the Blockchain Technology and on Bitcoin’s growth, according to this year.

Netanyahu described confidentially that the banks will eventually become outdated and can be replaced.

The Question and the Answer:

“Is the fate of banks that they will eventually disappear? Yes. The answer is yes. Does it need to happen tomorrow? And do we need to do it through Bitcoin?”

The Prime Minister also spoke regarding the part of the banks, describing that they were created to exist to ensure that the transactions between two parties and valid and safe. Banks not to mention governments, continue to control how money is spent and continue to benefit from that control, at the cost of the transacting parties.

Blockchain, the backing up technology of the cryptocurrency, makes it possible for people to transact directly. The decentralized technology itself, instead of the centralized institution, makes sure whether the transaction between the people is valid and safe.

Netanyahu described the Bitcoin:

“The truth behind what I just said is what’s propelling Bitcoin upwards.”

Anyhow, the prime minister also mentioned the doubt in the ability of Bitcoin to continue growing at such an astonishing rate.

“There’s nothing like this, that will continue rising at this rate, it can’t happen.”

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Japan’s Financial Regulator will be Conducting Inspections on 15 Unregistered Crypto Exchanges

The Unregistered Crypto Exchanges to get inspected by Japan’s Financial Regulator According to the reports, Japan’s Financial Services Agency (FSA) announced that it is conducting on-site inspections of 15 cryptocurrency exchanges that are currently awaiting registration in the aftermath of the Coincheck hack. Japan-based crypto exchange Coincheck was hacked on …

US Government will not Pass Bitcoin Regulations Soon

White House Official said Crypto Regulation is not for soon One of the White House officials told that the US government would not be passing any Bitcoin Regulations. Rob Joyce, who is a special assistant to the president and White House cybersecurity coordinator, said during an interview with CNBC that …

Ellen DeGeneres explains What is Bitcoin and How Does it Work?

What is Bitcoin and how does it work, Ellen DeGeneres Described Well, TV host Ellen DeGeneres took herself to explain to her audience what cryptocurrency is. Ellen described that bitcoin is like a stock market where people can make money off of it, but said that she’d “rather own a …

-->

Pin It on Pinterest

Shares
Share This