Will banks use privacy coins ?

[Gurujebs]

Now, on the contrary, we see an attack by states on coins with a high level of anonymity and confidentiality. Some states are simply banning them, while others are gradually making their circulation more difficult. Therefore, the risk for owners of such coins is constantly growing. And since banks are practically part of the state system, it is absolutely impossible for the banking system to use such coins.

Obviously, they are losing sovereign power and slavery they are used to the people and that is why they are busy trying to enforce law agency to ban privacy coins. Even Okex exchange will soon offload some truck of privacy coins due to regulations and I pity what is happening next because privacy is going to oblivious state where will no longer able to do anything privacy around us and how to manage finance without anyone intruding.

I thought they said privacy is a right and it's in constitution, it becoming the opposite of what they say or perhaps because crypto doesn't have a constitutional right yet and that's why they are abusing the privilege and we can't talk just like the way mixers are been hunt down despite been hosted on clearnet space. I spit on these government.

[TopT3ns]

Now, on the contrary, we see an attack by states on coins with a high level of anonymity and confidentiality. Some states are simply banning them, while others are gradually making their circulation more difficult. Therefore, the risk for owners of such coins is constantly growing. And since banks are practically part of the state system, it is absolutely impossible for the banking system to use such coins.

Obviously, they are losing sovereign power and slavery they are used to the people and that is why they are busy trying to enforce law agency to ban privacy coins. Even Okex exchange will soon offload some truck of privacy coins due to regulations and I pity what is happening next because privacy is going to oblivious state where will no longer able to do anything privacy around us and how to manage finance without anyone intruding.

I thought they said privacy is a right and it's in constitution, it becoming the opposite of what they say or perhaps because crypto doesn't have a constitutional right yet and that's why they are abusing the privilege and we can't talk just like the way mixers are been hunt down despite been hosted on clearnet space. I spit on these government.

Basically, the government should not have the opportunity to regulate the movement of cryptocurrency use, but currently, as technology develops, the use of cryptocurrency is increasingly increasing until finally the government is trying to regulate its movement, plus getting support from whales who can move cryptocurrency price movements on exchanges, so that all the government's statements about cryptocurrency seem to have a serious impact.

[DrBeer]

It's silly to deny that banks, not infrequently, do very bad things.
I can't speak for all banks in the world, but two examples are enough for me:
- In my country, Ukraine, the banking sector was restructured in 2014 -2018. The reason is banal - high corruption, illegal schemes, and other things that the corrupt government has created. At first, the banks and their "patrons" tried to "solve the issue" at the highest level, but were rejected. It came to sabotage of the banking sector, which could have a very negative impact on the whole country. An example is the forced nationalization of the major bank PrivatBank. Its owner, after the schemes of embezzlement of millions of dollars from the state were revealed, began to threaten that "tomorrow he would stop the work of the bank", which meant millions of pension accounts and tens of millions of accounts of citizens. In the morning, the bank was handed over to the state, and the owner was put on trial.
- Switzerland, after dialogs with FinCEN (Financial Crimes Enforcement Network), decided not to bring the situation to a conflict and started to fulfill their demands. This was a smart move, otherwise we would have heard about the closure of many Swiss banks.

Unfortunately that doesn't happen only in your country. In my country, Spain, the situation is very similar or simply the same. Many banks (Santander, Banesto and others) have sold products to clients as investments that over time have proven to be scams. And what happened? Nothing... At most, some really cheap fine and some small sentence that hasn't even sent anyone to prison. Even so, the banks continue with their bad practices, with governments and political parties as accomplices, because they know that they go unpunished and that they will always find some legal way to not really pay for the crime they have committed.

I also believe, although I do not have recent data, that these practices are carried out in all banks in the world.

Unfortunately, we have to admit that banks, as elements of the global banking and financial system, have a very strong lobby, are deeply and strongly corrupt, and the state very often finds another “touching story” about how it is impossible to punish a bank because.. and here is a whole series options - from “they are not to blame” to “what are you talking about? If we deprive them of their license and bankrupt them, the entire banking system of the country will collapse.”
 
But it all depends on the government and its goals. for example, in my country, banks that accept money from the public as deposits have a choice - to become a member of the “deposit guarantee fund” or not. This means that the bank is ready to take certain steps, open its data to auditors, and comply with certain steps. As a result, investors receive a minimum guarantee of the return of their funds. At the same time, depositors also have the right, when choosing a bank for a deposit, to request from it a document confirming the status of a participant in this fund. And if the bank does not, the depositor most likely will not make a deposit in this bank.

[summonerrk]

I am thinking about this.
Step 1 - banks discover blockchain - Checked.
Step 2 - banks integrate blockchain internally - Checked.
Step 3 - customers will have digital wallets from banks -  Not there yet.
Step 4 - banks integrate privacy coins internally.
Step 5 - customers will have privacy coins in their digital wallets from banks

To be honest, I still did not understand why to use private cryptocurrencies inside the bank. How will they distinguish these internal transactions? and why would they hide information from themselves? And private cryptocurrencies like monero and zkash are outlawed in many places. Yes, and even if private cryptocurrencies are used, sooner or later they will be banned everywhere, because they are used only for illegal business.

[DrBeer]

I am thinking about this.
Step 1 - banks discover blockchain - Checked.
Step 2 - banks integrate blockchain internally - Checked.
Step 3 - customers will have digital wallets from banks -  Not there yet.
Step 4 - banks integrate privacy coins internally.
Step 5 - customers will have privacy coins in their digital wallets from banks

I'll make an assumption - but these statements are somewhat misleading. Let me explain !

Step 1: Banks are opening up blockchain. Verified.
- Banks use part of the technology but not a blockchain of general use like bitcoin or etherium.

Step 2 - banks integrate blockchain internally - verified.
- See above - only for limited purposes, and within private blockchains.
 
Step 3 - customers will get digital wallets from banks - not yet.
- They won't. More precisely, they will not get a cryptocurrency wallet in the classical form, for example on the bitcoin blockchain. They can get either a CBDC or an address for deposit/storage of cryptocurrency as some kind of asset or surrogate, but not money.


Step 4- Banks will integrate confidential coins internally.
- No. This is against the regulations of all central banks. There will be no anonymous transactions within the state run banking sector. No more than the CBDC will allow. Now the entire financial system is actually fighting the alternative and anonymous financial system that cryptocurrencies have become. And the state always wins, as it creates laws.....

Step 5- Customers will get confidential coins in their digital wallets from banks.
- To summarize the above - understand that this item will not happen either.

[yohananaomi]

If banks do not follow the current trend, then this business will be doomed to failure. They have no other choice. Although the banking system today is taking an active part in helping the government control the cryptocurrency market and users.

Everyone should adapt to this period where developments continue to renew themselves, so banks should also do that, but it must be adjusted to the situation of each country, where regulations can be different.Although it is true, as you say, banks have no choice but to continue to adapt to developments.
Once again, ultimately everything is determined by the government, which actually regulates banking, whether it wants to do it or not, because policy cannot be defeated by the development of renewable technology.

[IvugeoEvolutionCoin]

If banks do not follow the current trend, then this business will be doomed to failure. They have no other choice. Although the banking system today is taking an active part in helping the government control the cryptocurrency market and users.

Everyone should adapt to this period where developments continue to renew themselves, so banks should also do that, but it must be adjusted to the situation of each country, where regulations can be different.Although it is true, as you say, banks have no choice but to continue to adapt to developments.
Once again, ultimately everything is determined by the government, which actually regulates banking, whether it wants to do it or not, because policy cannot be defeated by the development of renewable technology.

However, I am sure that banks will not develop into the world of cryptocurrency because the circulation of money in banks is very private and not everyone knows the circulation of money that is already in the bank. The banks will still use local currency and do not want to take the slightest risk; in fact, it seems like the government is trying to control cryptocurrency circulation.