Bank “IN Crypto MODE”
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It is well known to many the scope and insight that cryptocurrencies have achieved in all countries of the world, with some exceptions that are not worth mentioning.
But in this case I will talk a little about my country Venezuela which for many years ago adapted very well to cryptocurrencies, I know that one of the reasons was and is, the type of government that we have had for more than 20 years in In this country, I am not going to talk about politics even though I have a lot of knowledge in the mismanagement of government accounting and public policies.
Venezuela throughout 2019 was in the ranking with about USD 305.93 million dollars that were marketed through a popular P2P platform, one of the causes of these high numbers could be due to the fact that BTC is being used as a natural bridge for sending and receiving remittances, this high cryptocurrency movement is not hidden from the eyes of the government and the banks.
The Venezuelan government created a Superintendency of Cryptoactives (Sunacrip), which recently told representatives of the main banks in the country to combat the possible laundering of money through the exchange of bitcoins for bolivars through some exchange to be more specific, LocalBitcoin.
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Something that surprised me, a few days after that instruction by (Sunacrip), was the news that a bank known as Western Discount Bank (BOD) reported the new specialized service in the cryptocurrency operations segment for users from the country.
The innovative service of specialized attention in the segment of operations with cryptocurrencies “BOD MODO Crypto” in some way they are expanding the commercial offer to support their clients in their banking efforts. The BOD designed, as a first step in the development of its crypto vision, a specialized customer service for cryptoactive operators,
The service for which the bank bets on this opportunity points to an increasingly dynamic scheme in terms of operability, where customers will be able to refer people with whom they carry out frequent transactions in the different exchange houses.
Some of the advantages it offers are to create a community of its own for BOD operations in addition to carrying out tight transfers in the behavior of its cryptocurrency operations, just as the exchange according to them will allow unlimited transactions, exclusively between BOD-BOD clients.
We are in the midst of a financial change innovation and adaptation of financial services, I am not talking about minor changes., The banks have been with a website for years and offering online banking services the time has done its job and the change is coming Now it is a step that somehow already the owners of the bank realized, if they do not adapt they lose and we all know that the banks never lose or at least that they try never to lose a penny.
Of course we are seeing changes in two ways, banks are adapting to new technologies to be able to deal with cryptocurrencies.
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I am quite surprised by the news.
On the one hand I am glad that the financial institutions are being modernized, on the other, I have an old distrust when government agencies ignore and create things like these, they can be used to monitor the funds, but not so much to monitor the laundering of money, as to be able to subdue people.
In that you are absolutely right and as we well know that bank has extreme relations with many government officials in that regard I think it is not safe for anyone in Venzuela
Governments all over the world never allow cryptos to replace fiats as the traditional banks are governed by the powerful people whose interests are in the centralization of money and power.
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I'm not sure if I agree with you @akdx.
Fiat is doomed and I would assume that majority of bankers are aware of it. I would rather expect central banks to create their own currencies build on blockchain, which would replace FIAT.
Printing and redistributing such a resources would be also so much easier and cheaper.
It is great that the banks in your country are accepting cryptocurrency, I wish the banks in my country will do the same.
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https://twitter.com/lanzjoseg/status/1232860261360513026
An unavoidable change, a bus in which we all have to ride to advance (the use and knowledge of cryptomonas), thank you for sharing this interesting information in which you have a great domain. A hug and my support in #toptres. professor @lanzjoseg
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Gracias mi estimada Sacra.
Wow, this is amazing!
I didn't know about this new modality of BOD.
I will investigate more about it. I had an account in that bank, I will have to reactivate it.
Thanks for sharing.
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Gracias amigo.
Dear @lanzjoseg
Interesting choice of topic buddy. It seem that countries affected mostly by inflation are first to adapt to blockchain and crypto.
Just like you said: change is coming
Banks do actually lose and quite often they go bankrupt (mostly because many banks tend to invest in risky assets). The problem is that banks are always being bailed out :/
Solid read. Upvoted already,
Yours, Piotr
Hi @crypto.piotr, I'm sorry for the late reply.
You are right if the banks can lose, however I do not explain well. I wanted to refer to the shareholders or owners of the banks they don't lose, the ones who actually lose are the savers who have their money in the banks. Since the banks invest the money of the savers.
Saludos.
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