I think the real question is can #bitcoin push banks to clean up its act?!

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Banks are already feeling pressure from the rise of decentralized finance (DeFi) and digital assets like Bitcoin. The increasing popularity of DeFi platforms such as MakerDAO, Compound, and dYdX has provided an alternative to traditional banking services that offer higher interest rates and lower fees. In addition, the growing number of institutional investors who are entering the crypto space is also putting pressure on banks to adapt or lose out on potential revenue streams. Therefore, it's safe to say that Bitcoin has already started pushing banks to clean up their act by offering a more efficient and cost-effective alternative.

I think the real question is: Can #Bitcoin completely replace the banking industry? It’d be really clean if it didn’t exist! 🧡

I don't think so. Banks will adapt.

Nah banks will adopt it

It’s wishful thinking! 🧡

It’s wishful thinking! 🧡

When you talk replacing the financial system, that's DeFi and exists primarily on Ethereum. That's why some people see Ethereum as the finance layer and Bitcoin as the value layer.

There are people trying to build DeFi on Bitcoin now too. In time who knows.

Possibly as a protection against the CBDC?

Or as a world reserve currency - perhaps acting like gold in the days of the gold standard?

We all don't know, but one thing is certain, it will be extremely exciting.

But yes you are right. Some Banks in Europe already adopted it. Germany as an example. Austria probably in 2024 - more to come.

I won't tell names of the companies 😌