Many at times, the crypto community is tempted to think those crypto critics associated with global finance lack adequate knowledge about crypto. However, one popular crypto analyst believes this isn’t the case. Some are also with the view that there are two different groups in the banking industry; those that don’t know and are interested to learn, and those that know but aren’t interested to learn.

Some previous utterances from the CEO of JP Morgan, Jamie Dimon and a billionaire investor, Warren Buffet, suggest to the public that, people affiliated with the traditional financial system lack in-depth knowledge about crypto. Dimon made an infamous statement about Bitcoin in September 2017, calling it “fraud”; without giving any reason. Buffet also referred to it as a “rat poison squared”.

Some crypto enthusiasts believe they made these utterances because they were misinformed about crypto. These attacks could be due to fear of Bitcoin replacing the institutions they uphold obsolete, or it could be a genuine criticism.

Nic Carter, a crypto market analyst and partner at Castle Island Ventures, has opined that, the banking industry is well informed than what the crypto community thinks. In a tweet, Carter described his own interactions with bankers, saying these bankers have actually done their homework on crypto. He claims those he crossed paths with on daily basis are actually well informed and usually provide reasonable criticism. Carter added that, it’s a mistake to think that their rejection of crypto is as a result of ignorance.

Notwithstanding, others still believe that this popular conception about bankers is true. Dan Tapiero, a bitcoin proponent and founder of DTAP Capital, claims (https://mobile.twitter.com/DTAPCAP/status/1200299576911179777) the banker critiques of crypto or decentralized finance that he’s heard, attracts no merit.

Tapiero’s claims also had support from the founder of Swiss crypto think tank, 2B4CH, Yves Bennaim. He describes Carter’s interactions with the bankers as being in a crypto context. He however argues that, the bankers he has spoken to in crypto context are mostly interested but almost completely ignorant. He also described those he interacted with in non-crypto context as very ignorant and not interested at all.

It would be inappropriate to think that none of these bankers have ever read on crypto and decentralized finance. Nonetheless, it’s also clear that there exists a wide gap in knowledge on them, in the banking sector.

Featured image courtesy of Shutterstock