THELOGICALINDIAN - Just as old technologies accord way to newer ones so charge be the case for the banking industry According to bitcoin apostle Barry Silbert acquittal casework like Western Union and MoneyGram could anon see their annihilation as the agenda bill industry grows
This abnormality has been witnessed in the music industry, which saw the cease of Tower Records, and the photography world, wherein the about-face to agenda architecture led to the bankruptcy of blur aggregation Kodak. Silbert predicts that it will additionally be a “slow death” for acceptable acquittal companies, as boilerplate accepting of bitcoin grows.
“You should be able to move money and amount anon and it should basically be free,” Silbert said in the Inside Bitcoins appointment in New York City. He predicts that startups absorption on developing acquittal methods application the cryptocurrency or leveraging the use of blockchain technology ability be able to accomplish it advanced in the game.
A few months back, actor and British allocution appearance host Russell Brand alike went on to advance that bitcoin ability be a acute allotment of the avant-garde banking revolution. Without accepting advanced of himself though, Silbert acclaimed that there are still all-important factors to accede afore bitcoin becomes broadly accepted.
Silbert mentioned that absolute acquittal companies still accept the adventitious to aggrandize their casework to adapt for a apparent about-face to bitcoin transactions, as these are about added ambrosial to both merchants and consumers due to their low costs.
For now, he says that the capital use of bitcoin is as a abstract advance but he went on to say that a few companies are absorption added on the acquittal aspect. He additionally accent ChangeTip, which is acceptance users to accord tips to their admired bands or musicians on SoundCloud, and Coinbase.
