Andreas Antonopoulos: banks should be worried about Facebook’s GlobalCoin

One of the world’s foremost experts on all thing Bitcoin and blockchain, Andreas Antonopoulos has predicted that the introduction of Facebook’s upcoming cryptocurrency, GlobalCoin will provide banks with stiff competition.

While responding to a viewer’s concern regarding GlobalCoin’s potential impact on Bitcoin, Antonopoulos jokingly states he’s sold all his Bitcoin to buy GlobalCoin. He goes on to state that GlobalCoin won’t be a threat to Bitcoin because fundamentally it isn’t a cryptocurrency. Centralized organizations like Facebook lack the five pillars (open, public, borderless, censorship-resistant, natural) needed for an open blockchain.

“Anything that’s created by a centralized organization that is subject to specific laws cannot achieve any of these…

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