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Bitcoin Will Destroy Banks, ‘Question of When, Not If’, Says Mauldin Economics Investment Expert

  • Yuri Molchan
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    An investment strategist of Mauldin Economics states that Bitcoin indeed bears a serious threat for banks, saying that BTC will ultimately pushing them out of business

Bitcoin Will Destroy Banks, ‘Question of When, Not If’, Says Mauldin Economics Investment Expert
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Contents

Talks of whether Bitcoin is going to leave bankers without their jobs have been discussed for several years already. Many have already taken this for a fact and are now talking about how soon it will happen.

As 2018 showed, many former banking top managers feel completely at ease working for blockchain companies and the other way round.

Some of the most popular figures in the crypto industry who are forecasting Bitcoin’s ultimate victory over banks are Tim Draper, Tom Lee from Fundstrat, Mike Novogratz, inexhaustible John McAfee, Anthony Pompliano.

Now, a figure known slightly less than those above, but still an expert in investment strategies, has joined this pro-Bitcoin camp – Jared Dillian, an investment strategist from Mauldin Economics.

BTC will kill banks, a ‘question of when not if’

Dillian states that some technological hurdles are left but anyway Bitcoin will destroy banks. It is just a matter of time, he says. He has only been studying BTC for a couple of weeks, though.

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The community disagrees

In the comment thread, though, there are people disagreeing that Bitcoin is a perfect medium of exchange. One user says that BTC is not scalable enough (basically, going deeper into what Dillian said about the hurdles).

Others suggest that Ethereum is a much better alternative to Bitcoin.

Ethereum is a much better alternative to Bitcoin Twitter
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
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China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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