Why Crypto Currencies Matter, and why Banks are scared of them.

If there was any question about why Crypto Currencies could change the world, check out what’s been happening in China.

Between AliPay and WeChat, large percentages of the population are able to shop, send money back and forth, live and exist, without ever involving a bank. Quote : “Western bankers and credit-card executives who travel to China keep returning with the same anxiety: Payments can happen cheaply and easily without them.”.

This is scary to the banks, where only $97.25 of every $100 charged goes to the merchant.. the rest is absorbed by banks, card networks, and payment processors.

 

The more we use crypto, the less banks earn, the more they fight.

Great article found here : https://www.bloomberg.com/graphics/2018-payment-systems-china-usa/ — worth reading.

 

 

Posted in Bitcoin News, PointOfCoin News.

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