Banking license is best way to rob a bank, says Andreas Antonopoulos as he questions fiat establishment

  • 02 July 2019, Tuesday, 06:30

Leaders across the crypto-ecosystem have been known to openly voice their opinion, often clearing the fog left by the mainstream media. With media attention getting stronger, crypto-technologists such as Andreas Antonopoulos have made more attention to shed light on the true aspects of the market. Antonopoulos recently featured in an interview to inform the general public about cryptocurrency’s role in filling the gaps left by fiat currency.

Antonopoulos’ dialogue circled around the existing restrictions placed by the government and financial institutions that cause cross-border payment-related complications. He connected this thought to the economic struggles faced by Argentina, Russia and Venezuela due to “bad loans.” He added,

“They (Government officials) walk away from this and then all of the repayment burden falls onto the next generation. In the end, no matter what a government does, it’s always the people who pay for it and not the people who are tax evading.”

Antonopoulos added,

“The best way to rob a bank is to have a banking license. Then you can rob the entire bank or country with complete immunity or impunity. It puts the intermediaries (banks) in a position where they can commit mega crimes that impacts millions of people.”

He identified the development of crypto as an opportunity to remove the middleman, and shared his belief of seeing a fiat currency in a museum 20 years from now. Antonopoulos also warned viewers about the possibility of getting blocked from using their own currency, if deemed appropriate by government agencies.

Antonopoulos’ concerns aren’t his alone. In fact, his thoughts were mirrored by Cardano’s Charles Hoskinson who had also blamed financial institutions for persuading politicians into not supporting crypto-adoption.

Source: ambcrypto.com