Bitcoin, Crypto currency, Blockchain

The situation on Wednesday: Bitcoin and the fight against banks

Bitcoin was started to bring some rise in the dusty financial system. Dfor this was that more than The collapse of Lehman Brothers, lack of confidence in the banking system and the Bursting of the real estate bubble was the ideal breeding ground for a decentralized crypto-currency. Now, almost nine years later, the situation looks somewhat different. Bitcoin, banks and the search for decentralization.

It seems that currently everywhere, bridges are built. You all are owed to the attempt to hook up as often as “traditional” designated Finanzysystem with the “new” crypto-Ecosystem. Since the idea of decentralization, as it connects with the idea of a centralized control of currencies, and not together. The situation on Wednesday.

The new Bitcoin-bridges

Bitwala made last week in a vortex in the crypto-Community. With your Bitwala Card and the associated Bank account, you were able to convince the Launch of its action 30,000 customers in advance. They can use your account therefore in order to switch between crypto currencies and Fiat currencies, without the need for detours via third-party go.

A similar project is currently working on Swiss soil. Here it is, the company SEBA, the overall collection of 103 million euros. The goal here is to offer a very similar as in the case of Bitwala: payment transfers Cryptocurrencies to connect with Fiat.

So both cars the gap between crypto and Fiat and take the roundabout way to convince the regulatory authorities of your projects. However, the dimensions are not irritating to a long time.

Goldman Sachs & Ripple: payment space transform

Also, banking giant Goldman Sachs recognizes you, those signs of the times: As a supporter of the Veem-platform to want to abolish here is nothing Less than the SWIFT Standard. With 80,000 businesses in a total of 96 countries, the project has a broad base of customers, with the announcements of the established payment transfer the fight. So you are Far from alone.

Because the keywords “SWIFT-Standard abolish” and the concomitant Transformation of the global payment space is expected to ring the bell for some connoisseurs of crypto-scene something. It is those well-known “Bankencoin”, Ripples XRP, which has posted this project on the flags. With the recent launch of xRapid this goal seems to be in something more tangible, close moved.

Supporters were on a Galleon figure, Brad garlinghouse many. But there are also some who turn away and decentralised(re)of n Alternatives. Above all, Ripple co-founder Jed McCaleb, who is currently in the process to sell a majority of his collected XRP.

StellarX: The decentralized competition

The JedMcCaleb it is also involved at the time to call Stellar. With StellarX, the new GUI of the project, gets a Ripple at the moment high-profile competition from distributed side. With this project, the Stellar Community creates not only a Use Case for the platform of their own crypto currency. Because if you look closely, you can see here also a kind of liberation against the dependence of Bitcoin and Ripple on the other.

It creates StellarX, the project enforce, chances are at least good, compared with the centralized competition from Ripple to enforce.

Decentralization vs. centralization

This is (still) the current situation in the Bitcoin Ecosystem. On the one hand, we have centralized companies that try to make those Bitcoin-bridges. There are Big players like Goldman Sachs, or Ripple, try the SWIFT Standard to be abolished and to revolutionize the “international payments”.

On the other hand, we have approaches, the (track at least appears to be) the basic idea of decentralization. No question, these projects are not guided by the purest idealism. But they are, at least in the sense of a decentralization of the global financial system, much closer to the idea behind Satoshi Nakamoto Bitcoin.

Leave a Comment