Famous Book Writer: BTC Can Disrupt Banking Systems
The author of the book called Mastering Bitcoin, Andreas M Antonopoulos, has spoken about the recent stuff involving Bitcoin. He said Bitcoin can disrupt the central banks and big financial institutions. He said a lot of centralized systems are not safe and secure and cryptocurrencies can help them to improve.
Antonopoulos also added Bitcoin is being used by people in order to escape from governments. He labeled governments that they are stealing the people’s money. He stated:
“…it’s not values that makes it useful it’s utility that makes it valuable. So it’s the other way around so Bitcoin will increase in value if it’s useful and it doesn’t need to increase in value in order to be useful that’s confusing cause and effect”
He also said only 4 billion of people in the world have an access to the banks, and there is a huge gap needs to be filled and Bitcoin could help them to fill the void. Antonopoulos stated people are becoming increasingly pissed off by governments and central banks, and that might favour in case of Bitcoin.
The also stated lack of identity proof, access to banking facilities and distrust in the financial system is proving problems for central institutions. He said people also facing several restrictions, which is not great for them.
He finished with his words with saying:
“So even though the numbers are somewhere between two and a half billion and four billion people who have zero access to banking so cash based entirely, there’s also another two billion people who have access to banking but that access is severely restricted so they have access to perhaps one currency with very few choices they can’t change currencies…”
“so it’s not really their money so all of this great sum of people who are either unbanked completely or under banked is one of the things that I think we may be able to solve with Bitcoin and other cryptocurrencies in the long run”