Luno Malaysia: The Trouble with Banks!!!

Luno has yet again delayed their customers access to their funds, does this mean the end of the BTC craze in Malaysia. The Go Theory doubts, while most new adopters find it hard to keep up with the 24/7 hours of cryptocurrencies, the banks we trust our money with are finding it impossible to even keep up with an industry that never sleeps or takes a day off.

Though it is normal for Malaysians to take a break at the end of the year, it is, however, ridiculous to believe that we are nearing 2020 and most banks have yet to reach a standard of operation that goes beyond uninterrupted operations. Most, if not all Malaysians know that when the hour is close to 12 am, it is time to pay up or else you will be spending another hour at the bar or the restaurant before you can pay your bill with your card.

It is ridiculous that a bank that has billions of dollars of ringgit and thousands of employees can hardly keep up with companies like Paypal that run pretty much 24/7 uninterrupted. What more can we deduce when we compare banks to a decentralised system like BTC, Ripple, or even LTC.

I have no doubt that the Luno team is doing their best to rectify their withdrawal and deposit issues, but it is the banks that need to step up their game and meet the market demands. If not the masses will start looking for other alternatives to keeping their wealth and the banks will have no part in it.