Mainstream adoption through institutional adaptation

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Just in there is a growing movement for institutional change in Australia. Commonwealth Bank has announced their adoption of crypto currencies as an asset class you will be able to hold, buy and sell through them.

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I am excited about this because the ball has been rolling but now it is starting to snowball.

We all know that when Venezuela adapted and legalized Bitcoin as a tender constitutionally it wouldn't be long before it becomes a mainstay in the big banks game.

If you can't beat it, join it.

That is now going to be the new motto for everyone in the financial institution.

This would mean regulations and laws to suit this new wealth creating asset. Crypto currency is the new norm guys. I have seen lots of you write about it and I am in the same boat as you. I don't write about it since I have only seen all the news in foreign lands outside of Australia.

But no more. We are going to reap. Aussies here are going to be joining us.

My one concern are the majority who think that crypto currencies are the way to privacy. I say yes and no. If you hold your keys close and have not done KYC then yes you are very private as long as no one else knows you have keys.

If however you are wanting to make crypto mainstream you will have to follow the laws and regulations and see that KYC and your keys are now easily found out because blockchain technology is permanent and transactions can be found.

Yes, of course you have the other privacy block chains like Monero. Early adaptors of those coins are smiling since they have a way of not having to get their private transactions tracked.

If however you find that you do accidentally expose your public key, there is such a thing as estimated earnings that can be applied to you if you are caught out. The only solution in that regard would have to prove your transactions do not match the estimates given to you.

But all in all this is a very positive outlook for everyone that is wanting for crypto to go to the moon.

Posted Using LeoFinance Beta



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