Have you ever thought about why you should have to pay fees to keep your hard earned cash in a bank?….
Banks are some of the wealthiest companies in the world and it has only been up until recently that most big banks in Australia have stopped charging customers transaction fee’s to withdraw their own money from an ATM. Secondly, banks accumulate a wealth of data on customers spending habits. This data can be very valuable information for advertising companies and governments to create customer profiling and effectively produce more data trends as Barclays started doing in 2013 (Jones, 2013, The Guardian).
But what if there was a way of cutting out the middle man?
As society becomes more and more virtual, demand to be able to pay for goods and services with virtual currencies in a decentralised way has resulted in the invention of cryptocurrencies, ruling out the need…
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