Remarkably, if we are Reuters are to be believed: ING is working on a bewaardienst for the cryptocurrency s. According to the press release, will see the bank’s opportunities regarding digital currencies.’
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The sources are unknown
In the notice, no specific resources listed. However, writes Reuters that the announcement made by ING. The bank has set up its own website or other channels, yet nothing to come out.
ING would continue to work to find a solution to get bitcoin is to be stored, but also other types of “digital assets”. What is the ING that exactly means is still unclear.
The project is of the ING is still in its infancy, and we don’t know if the product ever comes to market. Earlier, the Dutch banks are already working on a computer, but these attempts have never progressed further than the development or pilot phase. Consider, for example, Wallie-up of ABN Amro, and Rabobit from the Start.
The German Solarisbank is also working on a cryptomunten to keep it. That will let the bank know, in an official press release. In that sense, germany is a bit further up.
Is ING up with a working product, or it ends up in the bewaardienst in the design phase? That is, it is yet to be seen.
Not your keys, not your bitcoin
This is a remarkable development, one of which was against the principles of bitcoin is to in is. Bitcoin is designed to give people more independence and to give up. With bitcoin, you are the manager of your own money. You have to decide what to do with it.
You can, for example, bitcoin is managed with a hardware wallet. That is, it is a physical device that allows you to prove that you are the owner of your bitcoins. A hardware wallet provides you with access to your coins, in the form of the private keys.
But it will let you have your bitcoin for you by someone else to manage, for example, by an exchange, or a bank? If you do not have to be the owner of the keys. And that is where the expression comes from: not your keys, not your bitcoin.