In any event crypto is jno threat to the main street banks.
The risk is the government or govt sponsored hackers ( China, Russia) nobbling the crypto system
_Meant as consideration not in a rude manner to your comment?_
I agree with the second part, in as much as they will aim to quietly destabilise other countries using tools like currency. However imagine if we did all use one currency (Europe/US/China/India, not just within the EU) the benefit of tweaking a foreign national currency goes away and hence the desire to screw with the currency, not a bad things. However the restraint due to those countries wishing to maintain either the vanity or control of their own systems for functional purposes will be the drag on this happening? Bitcoin could do this.
I would be happy to put a bet (bottle of scotch etc given TM is not registered for gambling) that twenty years from now (one generation) that it will be in transparent use.
1. I use ApplePay without a thought as it is more convenient. The banks do not have control over this yet it folds back to a credit card they control.
2. I use Paypal without concern. Same above, it is just another payment mechanism but it still folds back ton existing wallet/account. I am not young so is it a perspective/experience thing?
3. I am not young and the younger generations have already embraced the above but think it old school.
4. With their perspective the young will embrace frictionless things more quickly than us. I order electric bits for computers from Alibaba without a thought. I use paypal to protect me. I trust it more than a credit card in this situation.
5. No exchange rate charge experience with BC and PP, creditcard?
So BC is actually two or more things being fudged into a marketing phrase.
1. BC as it first came out is a method for securing the transaction and proof of currency.
2. BC as it is being discussed in the papers now is conflated with having a BC based bank account that one of these new companies will hold for you. (I would ask if they are regulated and if your money is protected in UK Law?)
I bet the next generation (16 now and beginning to use a bank account and currency in the conventional sense of loans, credit, standing payments etc) would not flinch if offered a Barclays BC account. It would be used through a credit/debit card and ApplePay etc.
I think it will become a daily thing in 5 years. After all Mr Musk tweets about it so it must be real. Cars replaced Horses, who saw that coming?