Bitcoin Will Take Place of Swift
JON Matonis, one of the creators of Bitcoin Foundation, stated that “Bitcoin will take the place of Swift – the system of global electronic transfer of funds between banks.”
As Bitcoin is used by every kind of blue and white collar employee, Matonis explained his opinions. Matonis, who worked in finance and cryptography through his career and let Bitcoin come to these days, also said: “Bitcoin is about the have an incredible explosion. Japan and Korea especially have a lot of interest in this. It is an investment tool with a system of money transfer. It’s suitable to take over SWIFT system for international money transfer and it has a valuable protocol. For the first time, people are making direct investments through a protocol like ‘http’ or ‘TCP’.”
Matonis, who underlined that the Bitcoin on 1 August 2017 is gaining a lot of interest from Asia, stated: “Just like Bitcoin, it hasn’t got any limited blocks and that’s why it’s having a lot of vogue.” According to the him, these new currencies are not very risky.
The news state that the ICO (Initial Coin Offerings) is the best way of financing. Matonis said: “It’s something really charmful for developing countries. It’s pure unlicensed capitalism.”
Matonis stated the Mastercard, Visa and other payment system companies who are going to start agreeing that this Bitcoin is something foreign. He mentioned that banks are insisting on this system, adding: “We are having baby steps about the usage of Blockchain technology. But I think the systems are gonna be changed by fresh players, not the banks.”