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Canadian Psychologist Media Commentator Discusses Ways for Bitcoin to Rectify Major Banking Issues

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Following the news release that Macquarie Bank, the 5th largest bank in Australia, intends to move to a digital-only banking system by November next year, Canadian clinical psychologist Jordan Peterson suggests how Bitcoin solves its core Banking issues.

Australia is at a breakneck speed to eliminate physical cash even as another bank announced scraping cheques, cash, and phone payments.

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With this strategy, all citizens who need to be digitally prepared will be excluded from financial transactions or be forced to get themselves ready.

Given this, Dr. Jordan B. Peterson sparks a debate on the matter, proclaiming Bitcoin over banks.

Quick Takes

  • Australia’s 5th largest bank will, by November 2024, begin its transition to digital-only banking. Following this, the bank plans to start phasing out cheque, cash, and phone payment services as among its offerings.
  • Given this latest development, the Canadian clinical psychologist suggested that it is probably time for customers to scrap banks and hinted that Bitcoin could fix the problem.
  • According to Dr. Peterson, Bitcoin is the flagship of crypto and was initially created to disrupt the conventional financial system.
  • As a result, he made suggestions that customers should forget about the traditional banking system and move over to Bitcoin adoption.
  • Moreover, this move exposes one of the core challenges that cryptos like Bitcoin aim to rectify by allowing customers more control over their money. The belief is that financial institutions should have little control over customer’s money.
  • However, this suggestion is criticized widely since it excludes some customer groups.

What’s Happening In Crypto Today?

At the time of this writing, Bitcoin is trading at $27,184.89, with an increase in market cap by 2.21% and an increase in trading volume by 54.20%.

On the side of Ethereum, it is selling at $1,650.50, with an increase in market cap by 1.07% and an increase in trading volume by 63.71%.

  • USD Coin is currently trading at $1.00, with a drop in market cap by 0.03% and an increase in trading volume by 51.15%.
  • On the side of Cardano, its current price is at $0.2538, with an increase in market cap by 1.51% and an increase in trading volume by 29.63%.
  • Meanwhile, Dogecoin is presently trading at $0.06252, with an increase in market cap by 0.40% and an increase in trading volume by 30.34%.
  • Toncoin, on the other hand, is selling at $2.42, with a drop in market cap by 1.30% and a drop in trading volume by 41.36%.
  • The price of Solana at this time is at $19.60, with an increase in market cap by 2.74% and an increase in trading volume by 62.09%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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