Encryption technologies such as Bitcoin will replace traditional banking when the basic conditions for capital users are mature

On May 25, cryptocurrency analyst Willy Woo tweeted complaints about the drawbacks of traditional payments and called on people to buy Bitcoin . He said that he encountered obstacles in dealing with the company’s business, such as the invoicing problem, PayPal required KYC, and the processing process was long; Willy Woo said the bank ’s cross-border payment business was frustrated and called for the purchase of Bitcoin. However, Willy Woo also mentioned that Bitcoin currently does not solve many cross-border payment problems. But when the capital, user base, and liquidity are large enough, Bitcoin and the stronger encryption technology ecosystem (including stablecoin and Layer 2) will make the banking industry look like pigeon post and messenger.

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