Shahrokhi, senior product manager in the financial industry, and previously the co-founder and CEO of Virtual Next, has a few suggestions as to why banks should adopt cryptocurrency wallets.
With the current surge in cryptocurrencies’ value, they are quickly becoming a new global market for assets and banks are being left in the dust.
BANKS WILL STAY RELEVANT
“Cryptocurrencies such as Bitcoin might become more popular than government-backed currencies one day,” says Shahrokhi.
Read more here: http://bitcoinist.com/4-reasons-banks-provide-bitcoin-wallets/
The thing with third parties holding your crypto wallet for you is that they control the keys of the wallet. By that definition you actually don't own your cryptos for banks can freeze your wallet when ever they want.
But that said, I actually agree that bitcoins and other cryptos should have more user friendly wallets. They should at least simplify the whole block Jain thing so that ordinary people would be able to use bitcoin.
You're right. I've been studying Bitcoin's users, a lot of them are good people and there are a lot of scammers. If banks start adopting wallets I believe it would encourage legitimacy, and more money would be put into fighting scammers.
I take a little different view. In my opinion, a bank is a business which is going to make more 'money' any way it can, legal or otherwise, think derivatives for a moment. With banks being allowed to hold wallets to me sounds like the same thing that happened in the 1930's when they simply opened up people's safety deposit boxes, took their gold, and gave them a piece of paper with a signature. Of course the price paid was much lower than what the banks made later. Never trust a bank, become your own central bank! And ask yourself, do banks really need to stay "relevant"?