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RE: Wharton Dean: Dimon Mindset Is Wrong, Cryptos Mean "The End Of Money As We've Known It"

in #bitcoin7 years ago

You made some great points there. I agree that Dimon's outlook is not correct, working inbetween corporates, start-ups and ICOs, I have been many people gain a huge interest in cryptocurrencies. While larger companies naturally gravitate towards blockchain (it is a safer option as it is here to stay regardless of what happens to cryptos, although I think cryptos are here to stay too).

It's very clear that people see the benefits of decentralisation and want to utilise them, which is exactly what is needed to bring about mass adoption.

As well as that, blockchain is really growing in tech oriented countries and blockchain associations are being launched in multiple areas. Thanks for the interesting post!

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I also agree that dimons outlook isn't correct.

There is nothing else for Dimon to say.

He cant favor decentralization since it is going to clean his clock. Blockchain eliminates the need for third party verification systems. This means that banks are seriously reduced in size since most of what they do is exactly that. Once blockchain performs that task, what need is there for most banking?

Even being the market maker in many markets isnt going to be required since decentralized exchanges can be programmed to handle that.

I agree with you there, although I think that won't happen for a while (a few years). It will also be hard because many banks and governments will fight it, but I do agree that blockchain eliminates their need.