Most Americans have bank accounts — reliable places to store money that are federally insured, carefully regulated, and generally better than coffee cans full of cash . But some 5 million households don’t have bank accounts. So every two years, the Federal Deposit Insurance Corporation conducts a survey to find out why. Is it a trust thing? A distance thing? A fees-and-service-charges thing? Last November, for the first time, the FDIC reported the results of a new question it added to the survey: Do you use a cryptocurrency like bitcoin instead of a bank? From the start, the dream for crypto has always been “be your own bank.” I’m being a little simplistic there, but bitcoin, ether, and their digital cousins were supposed to be a smarter flavor of money.
Tag Archives: Blockchain
The digital revolution has finally reached its climax as cryptocurrency, once a fringe phenomenon, bursts into mainstream prominence. Born from the ashes of the financial crisis and fueled by blockchain’s promise of transparency and security, this decentralized digital currency captures investors’ imagination worldwide. Understanding Blockchain Technology You need not concern yourself with the intricacies of […]