Rolling out the Red Carpet…

One by one, big banks are opening cryptocurrency trading desks, adding blockchain based assets to their trading resumes. With Bitcoin in the top 30 world currencies based on supply, trending, and getting the nonstop mainstream coverage it deserves, it is no wonder why the general public wants in. Banks are beholden to their clients and if their clients want to hold and trade crypto, then that is exactly what will happen. The question now is to what degree banks will enter the market and how much responsibility are they willing to shoulder. From lending , brokering and market-making to custody and derivatives, U.S. banks entering crypto will have their hands full all the while complying with the federal and state level financial and trading laws.

While banks are being outdated, the vast majority of the public is not yet ready or technologically inclined to be able to responsibly hold their own tokens or coins. If the goal of Bitcoin and cryptocurrency is mass adoption, then a middle ground must be reached.

Banks coming on board could be very convenient. Imagine trading directly from your bank account. Logging into Bank of America through your My Ether Wallet like one does on IDEX, for example, could be a very real and near possibility. Although the future is bright, the path is fraught with financial peril. Before any of these predictions come to pass, a secure crypto custody framework is needed.

There will come a point between idealism and realism. For adoption and acceptance, those two points need to come together in a cohesive manner. The world needs blockchain technology and in order to fully access this new power, governments, banks, and the masses must step up to the plate, educate themselves and realize that compromise is necessary and financial evolution is at hand.