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Are Cryptocurrencies And Blockchain Technologies The Next 'Industrial Revolution'?
We can bypass large segments of the banking system thereby reducing our costs greatly.
Money can be transferred quickly, without currency exchange fees and in total safety.
Microtransactions without associated fees is perfect for small shops and donations.
Most important aspects of the banking system will remain unaffected, meaning the general population will continue to use banks.
Big banks and corporations have a huge interest in prohibiting this and will use masses of resources and influential relationships against it.
Many of the functions performed by banks and the broader regulated financial system are essential for consumer protection and prevention of crime. Most people and businesses are willing to pay a small premium (a few %) for these protections.