According to the head of the largest cryptocurrency exchange Binance Changpeng Zhao, in the near future, all companies will manage to do without banks due to digital coins.
Recall that a few days ago Ron Karpovich, an official representative of the biggest financial holding JPMorgan, in his interview to CNBC said that cryptocurrency start-ups won’t be able to run their businesses without banks. He believes that in any case, all market participants will have to use the banking sector to run a successful business. According to Karpovich, this is the reason why all cryptocurrency market participants should regard the banking sector as their partner and not a competitor.
In response to this CEO of Binance expressed his disagreement on his Twitter account. He claimed that thanks to cryptocurrencies many companies are already working fine without banks and that a similar fate awaits everyone.
Now, we can't agree. Many (not so small) businesses already don't use banks, and they work just fine.
JPM just don't get it, yet. (also a reason they are not a threat to #XRP)
— CZ Binance (@cz_binance) March 20, 2019
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