RATE Group | Bitcoin Can’t Racially Profile You, Unlike Your Banking Provider
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Bitcoin Can’t Racially Profile You, Unlike Your Banking Provider

09 Jan Bitcoin Can’t Racially Profile You, Unlike Your Banking Provider

Posted at 20:43h in Bitcoin News by

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It seems that not a day goes by without a news story highlighting the shortcomings of the current banking system. In a world with alternatives growing in viability daily, incidents, like the following, serve as a powerful incentive to pay attention to Bitcoin.

The latest example of the power banks have over individuals comes from Canada and sees a 12 year old girl handcuffed. Her crime? Trying to set up a current account.

Bitcoin Can’t Make Mistakes, Bankers Can

According to a news report in CBC.ca, an indigenous Canadian man and his granddaughter were handcuffed during what they thought would be a routine trip to the bank. The incident serves as yet another reminder of both the shortcomings on the banking industry and the new possibilities opened by decentralised financial technologies like Bitcoin.

Maxwell Johnson was wanting to open a bank account for his granddaughter at Bank of Montreal. Having banked there himself since 2014, he felt comfortable recommending the bank to his…

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