One More Reason To Choose Crypto And Blockchain Over Banks
We’re living in an era of financial innovation, an era in which the new technologies are making huge efforts in order to try and eliminate the flaws of traditional financial systems.
Privacy and security are reaching new levels while Bitcoin, crypto and the underlying tech, the blockchain, are revolutionizing the world of finance.
The Daily Hodl online publication revealed a story that highlights, even more, the need to embrace the new tech and innovative financial systems.
Banks use power to unbank customers, according to the latest reports
It seems that a bank customer hopped on Twitter and complained about the defective ATMs at the at the Clichy Centre branch of Société Générale in France and reportedly got all of her accounts closed.
Centralized institutions are using their power to unbank customers, and on the other hand, we have Bitcoin, crypto and the blockchain tech supporters who are advocating for a system that works by removing third parties that can spontaneously close your account.
The Daily Hodl wrote that “Bookstore owner Julie Goislard says she grew tired of the bank’s faulty ATMs, long queues and insufficient deposit envelopes. She tried to voice her concerns to the bank. But after 36 unanswered phone calls, she escalated the situation by tagging the bank on Twitter.”
After that, she reportedly received a notice from the bank, which was announcing the closure of her account. She was asked to surrender her checkbook and debit cards.
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She met with the bank director, and the bank official told her that her accounts would not be re-opened due to her complaints on social media.
Goislard said the following: “What seems maddening to me is that my professional account was affected.”
Société Générale reportedly denies the bookstore owner’s allegations.
Check out the video above in order to find out more details on this story.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.