Banks were also using people’s money to invest and lost all the money that the customers had trusted them with. In a nutshell, the banks lost the money that the customers deposited with them, leaving the customers no way of recovering them back.
Blockchain 101 — only if you ‘know nothing’!

In most part of the world, if you save a certain amount of money in the bank, in an event if something happens with the bank, the government will guarantee that you will still have their money. I know that in Europe the amount is EUR 100,000 if the bank is backed by the govt.

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