THELOGICALINDIAN - Bankers and industry leaders in the Texas batter accept afresh been discussing what to do about blockchain technology and bitcoin They are analytical how they can get banks complex in leveraging cryptocurrencies because they do not appetite to be larboard in the dust However some of them are additionally scaredfor the cyberbanking industry In their eyes bitcoin has the ability to attenuate the cyberbanking arrangement and adapt the banking mural
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In an Amarillo Local Account article published yesterday, Bank of 
Commerce President Alex O’Brien commented on bitcoin. “I’m afraid for the cyberbanking industry because I anticipate that Bitcoin and Litecoin, the concepts abaft them and the way the blockchain works, is article that could beating banks out of the game.”
But alike admitting O’Brien is afraid about the approaching of banking, he mentioned he absolutely brand the abstraction of blockchain-based currencies.
To Fear or Not to Fear Bitcoin; Average Nerds on the Street Versus Bankers
Another broker at the Amarillo National Bank does not anchorage the aforementioned fears. He recognizes the approaching abeyant of agenda currency, though. Vice admiral Stewart Dodson of Amarillo Nation Bank said the dark, adumbral roots of bitcoin will be a bridle for future adoption. He said bitcoin’s accomplished use to facilitate aphotic web transactions accept attenuated the currency’s appeal. Now it will anchorage that stigma forever.
Even admitting Dodson sees bitcoin as tainted, he accepted a “digital currency” will eventually be adopted by the mainstream. He mentioned assorted acquittal apps like Venmo and Applepay could win the race, alike admitting they are not cryptocurrency-based platforms.
Jon Laur, arch technology administrator for EnergyNet — an Amarillo-based oil and gas bargain and closed bid transaction account additionally chimed in on the discussion. He said banks charge to get advanced of the game. He mentioned that if banks do not accept addition on the amount who knows added about cryptocurrency than “your boilerplate alarmist on the street,” they will be larboard behind.
Future of the Banking Industry
In the final analysis, the bankers assured agenda automation could change the face of the industry. The accessibility of agenda currencies makes jobs expendable, and could alter some cyberbanking roles. The article detailed, “In a arena with 6,600 banking area advisers as of 2014, according to the Texas Workforce Commission, lower-level positions could be alone or artlessly not added as banks advance added in Internet services.”
Do you anticipate the banks will accept bitcoin, or are some of these bankers appropriate in assertive bitcoin will displace them? Let us apperceive in the comments below.
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