UPCOMING EVENT

Let's Meet during iFX EXPO International 2024 in Limassol, Cyprus (18-20 June)

Book a Meeting
  • +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 · Archive

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.

Press Releases
74

Free VPS Trial

No Credit Card Required.

Recent Posts

MT5 Access Server for Forex Brokers: Virtual vs. Dedicated

MT5 Access Server for Forex Brokers: Virtual vs. Dedicated

14 June, 2024

How To Extend Root Partition using Home Partition space in CentOS

How To Extend Root Partition using Home Partition space in CentOS

30 May, 2024

NetShop ISP to Attend iFX EXPO International 2024 and Announce Global Infrastructure Expansion

NetShop ISP to Attend iFX EXPO International 2024 and Announce Global Infrastructure Expansion

23 May, 2024

TNFX Broker Partners with NetShop ISP to Offer Low-Latency Forex VPS to Traders

TNFX Broker Partners with NetShop ISP to Offer Low-Latency Forex VPS to Traders

14 May, 2024

How to Install Nginx, MySQL, PHP on Ubuntu 22.04 (LEMP)

How to Install Nginx, MySQL, PHP on Ubuntu 22.04 (LEMP)

10 May, 2024

#letushostyou

Award Winning Hosting Provider established in 2004.

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

© 2024 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
Revolut
Wire Transfer