FREE TRIAL

Deploy a Free VPS Server Worldwide. No Credit Card Required.

Start Free Trial
  • +357 2425 0808
  • Login
  • English

Home

Blog

Bitcoin Suisse founder: European banks w...

Bitcoin Suisse founder: European banks will soon start to offer Bitcoin accounts

Bitcoin Suisse founder: European banks will soon start to offer Bitcoin accounts

NetShop ISP

NetShop ISP · Blog Author

Sep 21, 2016 · Uncategorized

Bitcoin Suisse founder Niklas Nikolajsen said it is only a matter of time before European banks will be offering bitcoin accounts.

Although digital currencies are faster and cheaper than traditional banking methods, the possibility that the banks will offer bitcoin wallets soon was thought to be unrealistic.

In an interview with finews.ch at the Fintech Conference Finance 2.0, Nikolajsen predicted the change to happen by the end of 2016. However, he did not specify which European banks would offer bitcoin wallets first. The only thing he mentioned is that it would “not be an exotic bank.”

One of the biggest issues regarding such change would be to handle private keys. Those who have access to their private key can spend bitcoins associated to that account. If banks were offering bitcoin wallets to their customers, they would be required to give up the control of those particular keys. If that is the case, such move would raise a number of security issues.

The central bank of UK, however, has a different idea on blockchain revolution. Andrew Hauser, executive director for banking, payments and financial resilience of the Bank of England, said “there is no likelihood of such an extreme revolution occurring any time soon.”

“Much more work is needed across a whole range of issues, including: speed and scaleability; confidentiality protections; developing common protocols; integrating cash and securities movements; and establishing regulatory and legal norms,” explained Hauser, according to Fortune.

Categories

Backup
6
Business Continuity
4
Cloud Hosting
10
Colocation
4
Company Updates
1
Cryptocurrencies
1
Data Centers
12
Dedicated Servers
4
Disaster Recovery
3
Forex
25
Gaming
1
iGaming
33
Industry News
32
Interviews
10
Joomla
9
Magento
5
Managed Services
1
Operating Systems
1
Press Releases
65
Product News
6
Resellers
1
Security
25
Software & Apps
1
Streaming
1
Tech Startups
12
Tutorials
61
Uncategorized
389
Vps Hosting
11
Web Design & Development
3
Web Hosting
44
Webinars
1
Wordpress
14

Free VPS Trial

No Credit Card Required.

Recent Posts

How To Enable Remote Connections to SQL Server

How To Enable Remote Connections to SQL Server

27 March, 2023

How To Fix Error Failed to download metadata for repo in CentOS 8

How To Fix Error Failed to download metadata for repo in CentOS 8

23 March, 2023

How can Forex Brokers be Protected from DDoS Attacks

How can Forex Brokers be Protected from DDoS Attacks

20 March, 2023

NetShop ISP Bronze Sponsors for the University of Cyprus at Harvard WorldMUN 2023

NetShop ISP Bronze Sponsors for the University of Cyprus at Harvard WorldMUN 2023

15 March, 2023

Top 5 Cloud Computing Trends in 2023

Top 5 Cloud Computing Trends in 2023

13 March, 2023

#letushostyou

Award Winning Hosting Provider established in 2004.

Best iGaming Service ProviderISO Certified

120 Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca 6031, Cyprus

Products

Bare Metal Servers

Customized Servers

Virtual / Cloud Servers

Forex VPS

Storage VPS

cPanel Web Hosting

Reseller Web Hosting

Colocation

Addons

Premium DNS

Email Hosting

Cloud Backup

DDoS Protection

Licenses

SSL Certificates

Domain Names

Premium SLAs

About Us

Data Center Locations

Looking Glass

Our Company

Contact Us

Careers in Cyprus

Become a Partner

Awards

Certifications

© 2023 S.S. NetShop Internet Services Ltd. All rights reserved.  Terms & Conditions  |  Privacy Policy
CY Reg. Number: HE 217340 | EU VAT Number: CY10217340J

Visa
Mastercard
PayPal
Bitcoin
Tether
Ethereum
Litecoin
Wise
Revolut
Wire Transfer