Bitcoin Forum

Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.

Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now.

Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere.

A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes. :o :o

Good for them and their customers!

As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone.

"Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way,"

Blockchain is the future. Some countries are already using/studying Blockchain for their banking purposes. It is fast and much cheaper than traditional banking methods. So yeah, it beats banking methods with a great margin.

Blockchain is new revolution for many fields and this is going to bring many new changes in next few years which could be very helpful and give easy to work for common peoples hopefully we will feel more comfortable with this change as its bringing new breakthrough technology

If you think blockchain would end banking then its purely an overstretched assumption. Blockchain is a technology just like people have said every businesses at one point or the other have to key into the technology. Several years ago, there was no Automated Teller Machine, there was no Visa or MasterCard neither was there mobile app or POS machine and the height of it was the deployment of USSD for banking transactions and finally scan to pay direct just by scanning a bar code but along the line every businesses had to fall in line or they fade away. This businesses have deployed to their operation that today, I can remember the last time I entered a banking hall. I see the same thing happen for blockchain. Banks are multi nationals with huge amount to money to hire any developer to work for them and if that won't happen, they would buy an existing blockchain payment system, then integrate it to make their operations more efficient.

Our traditional banking system is outdated and over abused. So it needs to be changed. A revolution has already started and more and more banking institutions are joining the blockchain league for sustaining their business. Since you have taken examples from Indian Banks mostly, let me inform you that Kotak Mahindra Bank has signed a MOU with Ripple to use their cross border settlement service. This is just the beginning and we have long road ahead of us.

But the main question still remain unanswered. Does these adoptions will pave the way for cryptos to the world to make it mainstream?? I don't see much hope here. What I foresee is that, we will see a digital version of fiat will be introduced to the market which will not be decentralized in nature. A centralized architecture of blockchain will be used. Systems are certainly changing but when it comes to money, governments will not allow it to go out of their hand. 

Good point and one that is seldom mentioned.

Not many people seem aware of the fact that socialist governments like cuba charge upwards of 50% tax fees on wire transfers which move money into their country. Looking at the regional price of bitcoin--there is often a correlation between nations like africa who are willing to pay higher prices for bitcoin, and high taxes or fees imposed by central banks or states. We've seen many spam comments on this forum where people complain if they have to pay $5 transfer fees with bitcoin. I can't imagine how those people might react if they had to pay a 50% tax.

The advantages bitcoin and other 3rd party payment applications have in moving money across borders "sometimes" without incurring the heavy surcharges and taxes imposed on wire transfers is one of bitcoin and crypto currencies most under emphasized advantages. It might be fair to say the system is broken in ways with crypto currencies allowing people a means of avoiding worst case scenarios.

Banks adopting the blockchain technology will offer you more convenience overall, maybe even cheaper products,  but you'll lose your financial freedom in a way that we don't even dare to imagine. Governments could even replace the banking system by having its central bank function as the center of everything. They will gain more control over every aspect of the economy, and they can at any time decide to tax or haircut your balance effortlessly. I have always believed that it's not crypto potentially replacing banks, but the government itself, and there is nothing that will stop them from doing so. I'm not going to wait for that to happen....

Banks have no more choice but to adopt or else they will be dead for good. Banking system is too old for this generation so better for them to start adopting the system, in time almost all banks will use this technology and we will experience a better banking transactions or in worse case scenario we don’t need banks anymore.

As far as I'm concerned, bank is preferred by most people in the community because their savings is away from volaility which is good when you are saving money. On the other end, it is a good way for banks to adopt to the technology in finance like blockchain technology to ensure that they are not far behind in the evolution of money.

Banking is nowhere close to being dead. If, and a big IF at that, blockchain is even able to disrupt the traditional banking industry, it will only be to the extent that traditional banks have adopted blockchain technology. The banks aren't going away, the banking industry isn't going away, and how either functions on a technical level isn't going to change this fact. Don't forget that every single crypto is too volatile to keep any significant value in for more than an hour, and you see exactly the type of folly expecting such an instrument to displace traditional banking. Perhaps the only thing crypto actually has a chance to replace wholesale is remittance or value transfer services, but expecting it to actually replace functional banking is far more than crypto can handle.


Most companies fall out of the Fortune 500 because they're bought by other companies in the Fortune 500. They're not dead, they're subsidiaries of other companies now. I 100% guarantee no banks currently in the Fortune 100 will fall out of the Fortune 500 because of blockchain technology in the next 10 years. Even if that were going to happen, it doesn't happen that fast. Banks lower than the top 100 could fall out due to being replaced by newer companies and because those lower spots aren't very big by banking standards, but it also will not because of blockchain.

Nowadays the banks rule the entire world, and say that they are dying seems a bit hasty. They are already adapted to this new reality, and i hope they can stay away from at least some part of the cryptocurrencies.

Well, that is the hope. That blockchains will be proliferent in the market. Then again, banks will definitely see this as a threat. Not unless they will open up a blockchain of their own, i mean with the resources they have they could afford to create one for themselves. I just hope countries will accept this kind of economics as forward thinking move.

there is nothing wrong if in the future, blockchain technology is applied in the banking system. with transparent transactions safe and anonymous, I think it's quite effective to reduce the money laundering case because all transactions are recorded in a blockchain ledger and can be tracked.

Banking will never die in my opinion.For sure they will make another way to improve their transactions and services while blockchain banking is very convenient because of its new technology that makes it more faster and more reliable to used but the problem is even how popular and how convenient a blockchain is if its not fully accepted and embraced by the majority it couldnt still beat the traditional banking system.

What a ridiculous title.Blockchain banking is still banking,so banking won`t be dead. ;D
The ugly truth is that blockchain banking (if all the banks really implement that tech) will destroy cryptocurrencies,so I`m not so enthusiastic about all the "every bank should adopt blockchain technologies" idea.And,by the way,energy consumption will go thru the roof.

i agree, banks has always been ahead of us consumers, in all terms, even about blockchain, they have already been finding ways to adapt this technology, long before this technology was developed and expand in the digital world. we may not see it but right now i think they have already developed a new technology with all their funds and resources, to develope their own platforms.

Banking is not death yet and it will take a long time for us to see blockchain technology replacing the current banking system because of the type of leaders we have that did not want human to have control over they finance. However, in future things are going to reset themselve and blockchain technology will kick out bank and bankers

Banking system and blockchain technology can work hand’n’hand or together to make the service fee less, interest higher for a better society.

At this point, they don’t have the monopolising power against the people and the sad part is we can’t monopolised the use of this technology either.

So the fact that bankers can use it to their advantage then it will not kill them, but they must need to change drastically to adapt.

Not yet. There were several threads in the forum talking about banks and remittance companies getting their hands into blockchain research. They ain't disappearing anytime soon.

Most reason people use banks are for loans and we still don't have a good way of providing that service (at least with bitcoins, where people still want to remain anonymous).

What I'm imagining is that traditional big banks would coexist with smaller lending agencies that are using blockchain for processing the loans. More options for getting loans, the better.

It's government and central bank regulations that's making banks become unfriendly. The fact is that both can coexist peacefully. I'm sure that will happen sometime soon.

Yeah, sooner or late these companies HAVE to adapt to changes. And adapting to blockchain technology is part of it... The best thing about blockchain is it's transparency and irreversibly.

That is a very good and optimistic viee of things. But the way i see it, we will still see a few huge banks surviving and thriving even when there is a block chain dominated market. For one thing, both fiat and banking have been going on for centuries, and those kinds of institutions are hard to totally eradicate.

Well, there's BTCJam right now. I honestly don't understand how it's still standing up until now because people can just submit IDs of other people. It's so easy to get them on the Internet these days since people are so gullible anyway when doing a deal on the Internet. Even people that are only selling something are uploading their IDs on facebook to prove that they are that person. This opens them to an attack. The picture of their ID and their picture holding the ID are the only two things that you need to submit in BTCJam last time I checked. Those can easily be found in buy and sell groups on facebook (at least in my country that's the case because a lot of people are in that business). You can also simply deceive them by pretending that you're interested in buying something and that you need to see their ID to prove that they are actually the person selling the items. I'm not saying that you should do this but I'm saying that it's one way people get attacked on the Internet. We should be aware of things like this so we can avoid doing it ourselves.

I once asked in slack what about the people that didn't pay in BTCJam. They said that they go to jail. On the other hand, no one should go to jail because of debt according to the law (at least my country's law) so I really have no idea how come BTCJam is still running. The site is probably full of people lending money and never paying them since they can't really go to jail for it. And if anything, will BTCJam do so much effort to put someone in jail when they're on the other side of the world and only owe a couple hundred bucks? Of course not.

What you're saying is probably the most viable way in order to have a legit lending service that will not close down because of people not paying up. Plus if it's small scale, they can probably do collateral.

I am sure that banks will switch from centralized technology to some form of blockchain as soon as it's 100% required, but I dont see why would they collapse. Yes money transvers are big chunk of their business but as far as I know lending and investing are main sources for income for banks.

Really! I dont think that is really the case. I dont see that banks can not afford the improvements of old traditional methods at all. They are the richest organisation of all time and they literally rob us when we keep our money into savings account. I guess thats enough money for them to change their or upgrade the current technology.  :P
But its good if they are really looking after the blockchain technology adoption and implementation of the same in their banking network. If this news is true then this country should be the first one I guess to have it inside their network.

It is there compulsion that they will have to start trade in crypto otherwise banks will be closed forever. Blockchain is developing technology and when it prevail in the world, all people will use it and they will feel ease. Blockchain is new era technology and cryptocurrency is backed by them. Those countries that know about this technology have accepted bitcoin.

In this new technology system today that cryptocurrency slowly become more popular all over the world, maybe it has already a big impact that affects banking business reduces it's volume of daily transactions because of the new blockchain technology system. But it doesn't mean that banking future business transactions will dead, because cryptocurrency business needs legal transactions from any banking businesses by making cryptocurrency coin into real paper money.

In my own opinion banking is not dead but there are more people who always prefer cryptocurrency more than fiat so definitely, the price of bitcoins in the future will grow even more and fiat will be just disregard.

I think it will be a long process still for fiat bank to close and shift to blockchain, it will still take time for people to involve in digital money. It is so hard to educate old people about advance technology where they are the richest invetors in banks.

And this is the reason why banks need to adapt to our technology or else they will be gone with the wind,because this is the only reason why most of formerly uses banking system converted and transferred here in this community,the anonymity and the privacy and this is what banks need to progress before things get worst in front of them

Not just bitcoin but all good cryptocurreny. Banks will never die, they will adopt the system and try to destroy this market which they will failed forever. Blockchain technology will be good for us in the future, so many new rules of banks, frauds, and failed system of the banks here in my place and I think Cryptocurrency will make a huge impact here in my country soon.

well banks are not dead yet and i dont think they will be totally dead in the future. bitcoin and blockchain based crypto currencies will be an good alternative to modern banking system and i think banks will also start integrating blockchain technology to their processes.

I think you're wrong. Banks will never be dead and will never integrate into the cryptocurrency world. They are not profitable. The state is on the side of bankers and therefore the properties of Fiat will gradually approach the crypto-currencies. But the main control over the turnover and production of money the state will not let out of their hands ever.

In a normal sense banks will like to adopt blockchain technology or integrate it into their system. The banks cannot do this automatically because the banks are operating under  supervision and are taking orders from central bank which means they are directly working under government directives. Government of most countries have not approve the operation of blockchain technology in their country. So it will take time for banks to adopt blockchain globally.

I don't think the banking sector has dead, indirectly banking sector is the one that makes bitcoin live long. With this I believe bitcoin will serve as an alternate to the banking system. Blockchain technology will make advancements in the functionality which will make everything in an efficient manner than the traditional system.

Although blockchain has already begun to master international finance, I think we still need a regular bank because not everyone understands and agrees with the use of blockchain technology, there are still many areas left on earth that have not understood the digital finance world, this may take a long time.

Undoubtedly, there is a tendency to reduce bank branches and branches, banks are trying to reduce their operating costs in order to survive with great competition. Technology blockade and new technologies also contribute to the withdrawal of banks from the market. But it will not be as fast as it seems. The transition to a digital currency is possible only with a new world order and a completely digital society.

banking is the traditional way of storing money specially those huge companies who were afraid as of now to adapt the blockchain technology since because it can risk their assets many the time revolution make it someday.

The banking industry is not so advanced where I come from, so I’m not surprised that not much has been investing on blockhain technology yet or have made any major steps. I don’t think that it will die soon especially since majority of the population in my country is heavily reliant on banks. Especially since most of the elders are probably used to using banks, the emergence of blockchain technology would not be much of a hindrance to the industry.

Yeah, the fact that it touches almost every sector of life based on its application makes it very much interesting. Health, legal, banking, engineering, name them all; blockchain technology is going to be bringing a huge evolution into these sectors.

For the banking sector, we all know they have always been a necessary evil from the onset, but now that blockchain technology is here, the evil is no longer going to be necessary any more. All that banks ever did was to find a way to keep stealing from us and making sure everyone gets indebted, but this is the freedom.

IMO, they are different things , blockchain handle digital currency meanwhile bank handle fiat.
Of course blockchain banking is keep evolve until it able match with current bank situation but remember when something come on internet , it can be hack. That's the risk !

Since banking needs your presence on the bank, you need to travel with your money and this often prawn to kidnapping and crime of people who know you have money with you, so blockchain banking is one way to add security for an individual.

Banks will adapt to this new set of circumstances, bankers thought about ways to manipulate gold and silver for much time and they finally found a way to do it and that is why we have all of these economic problems, banks are going to suffer and many will disappear especially those unable to cope with the changes but those that are smart will adapt and we need to be careful with them because they may find a way to subvert bitcoin.

The blockchain is actually a book, but it is distributed and decentralized, and the core function of the bank is to book!
Blockchain may change the way banks work, replacing a small part of the business, but it is impossible to replace the existence of the banking industry.

The blockchain has changed the nature of money, and banks will be challenged as a centralized currency storage, guarantee, and circulation.
Banks are valuable and recognized, and will not disappear because of a revolutionary technology!
It can only be said that banks will change the existing model to adapt to the development of blockchain trends.

Those are just FUDs. Banks, will never be able to manipulate crypto just like gold and silver. Don't forget that they aren't similar assets, even though most of them do so.
Its just a way of manipulating your own minds and graving yourself into the griefs of this bear trend.

Blockchain technology is still far away from making traditional banks die, don't see how people panic every time bitcoin price crush. We still need to wait years before we can see any threat to banks and without support from governments and big companies I don;t see that happen any soon.

That's the common psychology of every investors.
What they don't realize is that the bearish trend is healthy. What goes up will always come down at a certain point of time. Its the cycle of economics.


Governments will never be in favor of a currency that's beyond their control, let alone support them fully.
So that's definitely out of the question.

well, i feel the argument is flawed... Because bank are nothing more than a storage center for your money..


As of today banks store USD... USD is dying, banks are not ! Hence, if tomorrow banks start accepting bitcoin and cryptos, then they become the storage center for bitcoin and not USD in future... So, now we have a usecase for banks to exist in future

Banks have more than enough money than you think and they already have adopted to change and are constantly changing their tech.
Yeah, not related to banks. They are experimenting for their own business ideas and not to replace banks. Companies need banks.

A blow inevitably yours,the earlier you receive it,the better.Banking is indeed dead but the authorities do not seem to realize that but what is written is written.Nothing can be done about it.The cryptocurrency industry is yet to spread to all the corners of the world and people are moving into the industry daily.So the earlier the government authorities accept and move things toward the direction of the wind ,the better for all of us in the world.

Lol… do you even know what you’re saying at all? 🙄who told you that blockchain will be replacing banks? This topic is becoming very boring please stop it and it’s making no sense. It’s only people that don’t know anything about the Blockchain that comes here making noise about how blockchain will replace banks. We are no longer interested in this topic, it will be much better if we all fold hands and shut out mouths and see what happens. Dayumnnn…

One thing is certain. Blockchain banking is faster than conventional banking. It all depends to this: are the countries willing to let faster(not so controlled) money flow, or not. Anf if they still want to control the money flow, how much time it takes for the countries to adapt to the system, and regulate it well.

 yeah you have also point because ,the future of technology will also fast to change the new world,,if blockchain will absord at the bank  many viewers here are also wholeheartedly support from this future,, specially to all people has been involve  of this furom .

I agree with you! Blockchain is the technology which can people daily routin change. It is great for change the method of banking! Long live blockchain!

We cannot take banks that much easy and these banks are the ones who mis guides the government and people about crypto currencies. As you said if crypto is been accepted worldwide and if that replaces paper currency then banks will be dead and that is the reason banks are defending themselves spreading negative news about crypto and making the governments to ban crypto. 

Banks are simply an out-of-date technology for disposing of money. The system has not been radically reformed since its inception. The crisis of 2008 clearly showed the structural weaknesses of the international financial system.

I mean, it makes a lot of sense for sure to integrate blockchain into at least some of the components in their systems in order to achieve an immutable ledger. Banks are already starting to experiment with this and so are some governments.

It's important to note though that by integrating blockchain into a centralised structure, it's not really the same as using bitcoin. In this case, the central entity will still have full control essentially.

But even with a decentralised currency like bitcoin, it's obvious to me that there will continue to be centralised banking services that surround it. The banking sector won't just disappear as a result of bitcoin or whatnot, they will just cater for new services. Banking isn't dead. But as you said, it's definitely evolving to suit new technologies.

Well this is an obvious, banks are becoming an old system because people are starting to relay more on online and virtual money to do their everyday transactions, and since cryptoucrrency have started becoming a popular thing and banks and government cant decide on accepting bitcoin, they have constantly shown their interest in the blockchain technology, however blockchian to me is about decentralization anonymous transactions but surely if banks and governments get involved in it then you know that is not gonna be the case. 

I do believe that blockchain technology will play a very important and huge role in our economy. With the security it offers and the fast and cheaper way of transaction, it will for sure create a mass adoption in the near future. Banks will definitely have to adopt with the change or else they will have a problem with their business.

Yups they are now adapting to our technology and in sooner they will be begging for us to accept them as we are now enjoying the new world without them as third party

Banks will never die but they will need to accept us and bare with us for them to compete the market

I am trying to make an opinion, I think we still need banks traditionally as a means of saving and direct money exchange, including digital currency exchange, traditional currency and digital currency needs as well as bank structures, digital or wallet accounts exactly like bank accounts different form, precisely when viewing the shortcomings of the crypto that must connect to the internet means we still need a bank, may be useful and successful for all of us

Cryptocurrency is outperforming banking and other types of payment media so that banks do not like to think and adopt the advantages of Blockchain technology will cause banks to fail quickly.

Some banks here in my place are making move to adopt the technology, for sure if they don't adopt blockchain technology they will experience problem in the future. They cannot escape this growing technology, they have no choice but to use this technology. People realized already how suck banking system is, so they might have a hard time to encourage people to put money on the banks.

I couldn't agree more. I bank with one of the largest banking institutions and I cannot wait to not need them anymore. We're almost there. Just the other day, I was trying to send funds to someone using "QuickPay" and received a message saying it required internal review. Not so quick. I've been banking with them for decades. Their system is dumb. 

Check out this article on how blockchain affects banking:  https://medium.com/@julie_45376/blockchain-for-dummies-26fdf5de6dff

Just looked them up, they already closed. I don't know how they operated their business but it really gets complicated when you run international. BTCjam should have instead did a hybrid approach where the loan applications are handled locally, where the future debtor have to walk up to to confirm his her identity. The money would still be handled through the blockchain, meaning anyone can still easily contribute to to pot.

As for getting into prison, I know people who did from borrowing from those loan agencies but never from banks. Guess banks just have way more clients and so focus more on larger debtors. I know people who have defaulted on credit card loans from various banks. Save for the harassing phone calls and letters, nothing else happened.

Banking can only be dead if the government goes towards cryptocurrency but u and i know that will not be in any time soon because of the policies they put in place that will favor them. It will be a good thing if they adopt the whole idea of blockchain banking, lets just watch and see what the future holds.

bitcoin is created to have another form of payment than bank who is mostly available physically and only on working hours making it too hustle consuming time and money in just transferring money so satoshi nakamoto think that something must be revolutionize which is the digitalization of payments that is relatively cheap, fast and can be done anywhere and anytime.

my opinion on the traditional bank is going to die, I think the traditional bank will not die that easily, but if it decreases the number of its banks, I think blockchain is an alternative to store assets in digital space does not mean we do not use traditional money to buy basic needs, and I think the bank system will still exist and complement each other until the world really modernization technology system, may be useful and successful for all of us

banks and bitcoins are two economically relevant sectors. If bitcoin was the pre-digital market created in 2008, the bank has a long history with monetary and financial functions.

A good one to know that change has come and those who are not ready to accept/adopt it will get swept off by same change they ignore. I really will want to believe that banks are on the research on how the blockchain will be of positive impact on their operations. The ignorant ones will soon become outdated/obsolete.

it seems the bank has not died because at this time there are still many people who use the bank and still many people who do not understand digital currency so they still entrust their money in the bank.

That's right Banking system takes a long time before eliminating by blockchain technology. Maybe this will happen but I think a lot of time will consume because some countries now are not yet adopting bitcoin in the country. Maybe blockchain as of now is another alternative banking method for those who already engaging bitcoin. Because this technology is very helpful to us very convenient transaction and there are transparencies in every transaction.

The Banks are indeed going to struggle to cope with the pace of things in financial activities unless they inculcate blockchain technology into their operations. Blockchain will surely be the leading technology in financial activities in future.

Although banking isn't dead yet, it is going to happen. When those bankers caused the 1% protests in wall street it signaled that something has to change. Bitcoin is the driving force and so we should all get in now before it happens

I think that banks will be forced to adapt to the new competition and I'm certain that many of them will fail. Some people will prefer to use banks to store their cryptocurrencies because they were taught that banks are the safest possible way to keep money away from thiefs or any other dangers. People want to avoid bureaucracy and banks are not helping with that. Using a bank is more and more difficult because of new regulations which aim is to preven money laundering.

It would also spell to me that the banks would stop being so powerful, and that the bitcoin would offer us the freedom we desire.
But I'm not so optimistic, and I think the power of the banks will last for a long time.

Keep dreaming. Banks are in the same position as we are when it comes to adapting to new technologies. They may not have entered this space as early on as most of us here did, but they don't need to since they can shake out people at any time, which is already happening, but people don't realize that yet. Once they do realize, they have sold cheap and bought back expensive already, and that probably several times in a row. Money moves mountains, especially so when you also have an advantage over the rest of the economy already as bank. Banks are here to stay, they will improve and make sure it's you that will yet again lose the battle....

It is erroneous for crypto users to think introduction of cryptocurrency it our mainstream economy will make banking go out of extinct. Cryptocurrencies will still needs banks to make it function more effectively. Deposits and withdrawals of crypto is now done with banks and nothing will change even if crypto becomes the basic currency for day to day transactions.

It goes without saying that blockchain is already starting to become integrated into existing services that are provided by corporations, including the record keeping of banking services. Even governments themselves have started to test blockchain, for example, Venezuela with the Petro.

Are these things necessarily that good to bitcoin, though? I mean, banking services will continue to exist. They are definitely not dead. And blockchain IMO will definitely be of benefit in some areas that you mentioned, whether having an immutable database or even for KYC.

It doesn't really have a direct impact to decentralized cryptocurrencies that should really be the focus here, such as bitcoin. Well, I guess it does promote the use of blockchain as an actual viable way to conduct business through, but not much more than that.

I believed on this. The blockchain banking will be the new type of banking because the traditional banking system of the banks are now dead and the people are prioritizing putting their money into blockchain based projects or banks because they know that it is better and it is the future of the other things in the future also.

Yeah banking will be dead soon. Especially if world accept blockchain. Banking got low interest but blockchain it can make double your money in just a month

,although it is the future, as of now there is no guarantee that countries will officially accept it. Because as we can see in the reality, there are only few current countries that are accepting crypto and blockchain technology for legalization, and we all knew that the government might disagree with this kind of idea and worst case is that they wont accept it.

BTC's market value is getting higher and prices are getting more and more stable. In the future, BTC may show its importance in cross-border and large transactions.

I don't think banking system will not be affected because people use banks in their transactions and also in car loans and even housing loans but imaybe in the future banks will also adopt blockchain technology.

Banks think they are untouchable and that if something happens to them the government is going to save them, but bitcoin is incredible, it attacks both equally on one hand bitcoin replaces almost all the functions of a bank at a very low cost and at the same time attacks the governments by being a currency that is superior to their own and that they cannot control, bitcoin cannot replace either for everyone but it will for some people.

In the process of the development of the encryption industry, the banking industry will be greatly reduced, which is why most banks oppose bitcoin.

Well this logic seems lame to me. Not everyone gets kidnapped while taking money out to banks. You need to be mature enough in this matter. This bitcoin and other crypto are for your good and ease. But they aren’t perfect as well. You can just be hacked down even you are saving your coins over interest. So risk is always there but still crypto are more secure and safe them fiat.

Banks are as old as the civilization where people are starting to have a technology. Now that cryptocurrency has a possibility to change the world, banks would rather adopt or focus only with loans. Electronic money systems like cryptocurrency would make banks lost its storing and investing functions. Lets all see what future brings us.

i should agree with this, right now blockchain banking are more preferable for people and not because of that, because of the transparancy people can freely looking at their money transaction, not like an old banking system, many of banking system in the old time are making any fraud and stolen many people money for they own sake, with this i hope can make more stable economic in the future

In fact, it would be interesting to see how in a big bank they will change the old system to blockade. This would definitely affect the bitcoin's course and other cripples. All this is waiting for impatience.

I don't agree with that banking is dead, I believe they'll evolve tok meet the blockchain demands

Yes all this year needs a change. companies have begun to use blockchain technology to make it easier in terms of enterprise development. banks will use blockchain technology in the future to make it easier to transact and monitor online transaction history like blockchain technology.

Based on economic theory, this wil not decrease our trust to bank. But it will decrease the amount of the transactions. And that will make a big effect to their business process.

Wrong!

Blockchain is not a technology that can give back double bitcoins in a month,it is just technology where the informations where keps secured but buy usimg the demand and supply of the crypto currencies we can make profits in a month or year too but there is no assurance that this investment will give returns like banks.

Banking it's not dead yet, but it's going in that direction.
And I'm happy to see this.

yes, it is valid, the system has become outdated and the koissiya imposed by banks because of what, many and have changed on cryptocurrencies don't suit many any more. I like the idea of an anarkhichnost if it is possible to call her so) will look what will occur in several years)

No, banking is not dead. It is too early to rejoice. Blockchain is still an experimental technology. Not everyone is yet satisfied with it. Most people are still trying to understand its functionality. Know the merits and demerits. Until the blockchain technology is globally accepted, then banking is still very much alive and trusted by more people in spite of their complaints against the banks.

And this all started with the advent of July because we have had falls in the value below $6000 before July has actually started and the starting hours of July proved fruitful and we had a rise. Right now the values are good and rising slowly but we will have a much sharp rise as soon as the Bitcoin cross the $10000 value on the market. Having said that, we can be hopeful about the future.

Its hard to kill banking system since bitcoin has so many issues to deal with. Currently, the developer(s) is/are unknown. So many accusations the bitcoin is used to fund terrorism, slow transaction, energy consumption, anonymous dealings, creating room for scam projects. Although, financially, bitcoin is doing great, some issues that draws the coin back from its potentials must be dealt with.

Possibly, with the boom of the crypto market as it is today, the banking system around the world will be upset, and they will never be able to compete with the BTC. That's why I'm not developing Crypto

Indeed, it is time to adapt change and to adapt the rise of Blockchain for the economy of the world. But it is still a long way to go  There are still so many things to consider and many things to develop. And I know some banks will never let their guard down and won't give up to adapt Blockchain technology but I know it's their loss and they will be out-of-date in the latest trend in our world today.

Yesterday, I am reading on litecoin foundation twitter that litecoin already buying share on germany bank. I think cryptocurrency future will be more bright and i am believe it will shifting cryptocurrency to next level

Bank have good insfrastructure on our economy. They control money supply and as development agent. I am believe banks will survive if cryptocurrency become common on our life, they already have many experience on economic crisis and they still survive until now.
I am believe they will adopt cryptocurrency for their platform and take benefits from cryptocurrency market

I think it is going to happen soon because now almost everyone is try to put their money into bitcoin block chain because it is the new technology which can give you good benefit, banking has become an old way of saving money as it never give you profit and your money just get rusted so I think bitcoin block chain is the best place to keep your money safe, it will grow and rise in price and demand.

It's even good that in a short time the technology of blocking will be used in other areas.

It is really possible that the existing transaction or system of the banks will be replace by blockchain technology as it was proven safe, strong and stable. In fact many governments are adapting this technology for security purpose like the famous US Pentagon in which they already adapt the technology for their system defense and also some banks are already making a test run of the system so maybe in a few more years blockchain will be the common transactions for everyone.

Excellently explained. Banks and Bitcoin are two financial institutions. The fact is that there are banks all around the world but the use of Bitcoin is limited to countries except Middle Eastern and South Asian countries where the technology is being banned for certain government interests and for the sake of people.

The government is of the view that people with limited financial means will loose their money into the Bitcoin because they do not know the use and hence the way to deal with the changing condition. Besides, to reduce illegal activities, it is banned.

I dont think that banking is dead. blockchain will be heavily used by everyone in the world in near future. But still banking system wont disappear from this world. Banking system is an essential party in any economy. It is like if we expect humans need not to be work in the future with the automation or robotics, it wont happen. Even there are robots humans need to be there to inspect. So even if blockchain is becoming famous, banking system will be still be there. They will find ways to make themselves important.

Banking can never die and no country can allow it to get abolished. You can create or provide the crypto services from the bank which is possible but existing banking services in any country is the base for the economy to grow.

Too soon but we only need for something to happen, when the great depression happened in 1929 more than 9000 banks closed and that was only in the US another crisis like that could destroy the economy and the power of banks and they will be very weak after it, when that happens that will be the opportunity for cryptocurrencies to take over the banking industry.

This is what will happen in the long run.Banks will be outdated due to their robotic system of transactions and cryptocurrency will surely reign.This is one of the major reasons why people hit cryptocurrency because they know the long term effect against them will be bad in that they will be jobless

blockchain banking is the right term for future of banking we can expect the banks will admit they are dealing with blockchain based centralised banking in the future

Banking is dead because people choose to invest on crytpocurrency, everyone know's that investing on cryptocurrency will gain you more profit more than placing your money on the banks.

In my country bitcoin has been banned not because it is decentralized but because they are investigating blockchain technology and when they complete their survey they will allow people to trade and invest in bitcoin. The world is turning towards new technology and the banks would have to adopt this technology otherwise their services will be of no use.

I don't think banks are dead. In my country, banks and its use is still very common. Cryptocurrency isn't as popular as it should be despite the facl that there's no actual restrictions in using it in my country. Moreover, in terms of loans and money safe-keeping, people still prefer going to banks instead of just putting their money in crypto. Although, I can see in the near future that the banks will be adapting the blockchain technology, soon, so as to ovwrcome some limitations. I am actually looking forward to how they are gonna pull it through and how the people will react and.welcome this innovation.

Don't worry buddy, very soon they'll start partnering with blockchain and crypto solutions. They will have no other option because the youth have started utilising online ways of getting money and so if they don't join and when the oldies are no more, they'll really suffer. They'll join us, I believe that.

Banking, as a whole, will always exist. It's how blockchains counteract or replace certain elements of banking is what we have yet to see.

And that is one definition that goes against the banking section for a very long term now at the detriment of those they should really be serving but because of greed and some sort, they have decided to manipulate every single aspect of the fiat space to their own advantage and the advantage of just very few while the masses take the hit for their bullshit.
Enough is enough and this is why the blockchain technology is going to bring a huge solution and who does not want solutions?

The conventional banking system is the main rival for this crypto platform but this it needs a lot of time to overcome banking system because It's been established as a reliable platform for saving and taking the loan. so people feel comfort by involving with that conventional banking system. so blockchain system also needs to gain this credibility then people will get engaged in this platform. 

I would not say that banking in the way we know it is dead. Dont forget that there are still people in the world that no nothing about blockchain technologies and even about computers and how Internet works. Believe old-type branches with cashiers will still stay for quite a while.

The competition of banks and crypto is the same as the competition of a horse and a sports car. Technologies of the banking business, their approach to the client and money are very archaic and have long required reform. Crypo provided a technological opportunity for this

I dont believe banks will dead because of blockchain banking or cryptocurrency. Banks have a centuries experience about how to run bussiness and banks always survive in any condition. Cryptocurrency will be new world for banks bussiness but i do believe banks will evolve and adapting blockchain and crypto to their bussiness

Maybe so, but i think destroying an economic system that has been with us since the beginning of economics itself would be very difficult and would require  a heck of alot of time to even place a dent on them. As it is, crypto currency and blockchains are weak and investors wouldn't even consider them as a viable option over fiat.

Most likely banks will actively resist crypto. They understand that they live out their last years, but they will not give up their positions that way. In addition, crypto still causes little confidence in the mass of people.

It is not as simple, every time a new technology appears it may seem like it is going to displace all the other technologies and yet it takes a lot of time, just take the radio and the television as an example, when the radio appeared everyone recognized its power and then the television appeared and everyone thought that it will replace the radio and yet to this day the radio has a bigger audience than the television.

we are in era of blockchain based banking that is the future  of banking we will see more banks designing crypto products as investment and loans as well

Yeah bank cant make a good profit in holding a longterm that. Thats its so very clear that bank will no more in the future. Because of the crypto.

Bank does not affect.
Blockchain is still a testing technology. Not everyone is happy with it.
Most people are still trying to understand its function. But I believe it will officially enter into good standards.
Ease of use brings many values to the community. The belief in tomorrow is certain.

A lot of countries now are seeing a way they can at least make the best out of the blockchain technology. Also, so many companies are already making use of blockchain to bring the best to their system. It is obvious this is the future and not just the future, but a technology that is here to disrupt the banking space and solve all the B.S that banking could not solve. It is a change for the better and one that almost every blockchain enthusiasts cannot wait to be a part of.

I already lost faith in the banking sector a very long time ago considering how screwed up it has been over the years and how they have used their monopolies and manipulations to affect a whole lot of things.

Blockchain is the future and I am sure a lot of those in the banking sectors are beginning to catch a glimpse of what it is going to be like. I know a lot of things will change positively with this technology and like you said, this is going to be a global positive movement, where the banks are totally left out from the scene.

Your assertion above is indeed very appealing to the ear but the urgly truth remains that banks are their to service the selfish interest of of government which Blockchain Banking may not be willing to do, hence i don't really see banks dead but humbly working hand in hand with Blockchain Banking

That's the thing with companies. They need to adapt to the ever changing market to keep afloat. Nokia failed because they did not choose Android OS. Kodak failed due to sticking with film and did not take digital photography seriously. So now blockchain is the next best thing and it would be wise for them to get on board.

Blockchain is good technology that can applied in any bussiness sector. Banks right now want to adopting blockchain technology in their platform. Banks will survive in cryptocurrency era because banks have a lot experience in any economic condition.
Blockchain technology can make bussiness more eficient and more secure and if company want to reducing cost, better using blockchain on their platform

Blockchain is indeed a good technology that can change a lot of thing but it won't end banking as that kind of thing won't happen. Bank is not stupid and they find a way to integrate their system with blockchain. People don't realize that banks play a very important role in our life and cannot be easily displaced.

That is what they are trying to do but they are going to fail, people are not going to fail in their traps once their scams are made public when the system finally collapses and people realize they have been lied, they are going to avoid the fiat issued by the governments, it is possible that at that point they ban bitcoin but when even the ones that need to make people to obey the law needs to use bitcoin for their transactions then things will be over and the monopoly of governments over currencies will be over.

I think it's not already in fully implemented since there are still countries that are banning cryptocurrencies/blockchain technology. Besides, some people are also reluctant to embrace the technology even if that country is legally utilizing the said technology as they still prefer to do traditional banking.

The funniest thing is that after saying all these rubbish, if we check, you still have a bank account and you’re still making a transaction with it and going to the Bank ATM almost everyday. Dude, stop all these, it makes no sense and is helping no one.

If you think bank is over, then move all your money into Bitcoin and won’t be sorry for you when you will end up a complete loser. Blockchain is not beating banks in anyway, and Blockchain wasn’t made to replace them, it’s just a way of making payments and investment.

Banks now are starting to adapt blockchain a technology for them to ride to the future

I have read some threads here on forum about banks that getting nearer to accept reality

I am wondering crypto and banking sooner will work together to produce good service to the people

There are banks that integrates this technology to their services and it seems that it will become more powerful than any other financial system had built. They can lower their service charge without losing income and attracts more customer.

Block chain is a great technology while allowed people to send money world wide without any giving data, identify also its give you opportunity to send money anonymous.Fast transaction, Low fee, no tax.

Bitcoin can helps you to increase your holding coins in short time and include low fee where banks takes some months to give you benefits and applied charges when you're sending your money.

My opinion is that banks will live for a long time. Although they have an old system, but it is very well established and the guys from the banking system will not give up so simply a piece of the pie in favor of the technology of blockchain.

Yes banks now are not too trend or know now since many blockchains are created so that many people invested in blockchains to make their money more in a short period of time so that many people does not go in the  banks because thier money does not be more as what you can get in the blockchains. So nowadays blockchains is better more than banks.

Although I agree that blockchain is better than traditional banking, I do not know if it can end banking, simply because it has been around for a long time and people are used to it. I would not doubt that cryptocurrency is only going to grow, however, making the obsolete may be a stretch.

When bitcoin is giving you these advantages why we use banks. I think bank futures are not bright they'll dead when everyone move to blockchain.

Banks are like cockroaches, they will always find a way to survive in our world.  They do not even need to worry about them.

I am doubt banks will dead. Banks is old finance institution and banks always survive in any condition. Banks will adapting on crypto era by using blockchain on their platform and with blockchain, banks will save a lot cost

But the problem for banks is that we do not need them, if banks at some point accept bitcoin deposits why will I use them? The chances that I get hacked will be lower than the chances they get hacked because I do not have a big target in my back unlike them, they are going to lose many of the coins of their clients and whatever business they are trying to create around bitcoin will fail because of it.

I admire your electric enthusiasm, but this statement about banks is quite silly my friend. Banking will never end, it will only gravitate towards more conventional means to ensure its survival, like the blockchain. Without fiat being available for exchange, Bitcoin and all the alternatives become useless, at least for the average joe, whom I believe the platform has yet to reach and may be key for a wider scale adoption.
   Until everyone (including grandma) is able to utilize crypto effortlessly, it won't reach mass adoption. The interface must be made so simple, that a child could use it, then every day Joe's will start to indulge upon its use.

I don't think banking is dead.

Most people, if not everyone, needs a bank for ordinary financial transactions and loans.

Cryptocurrencies are a small niche, and not everyone has the abilities to manage crypto assets.

Banking will never be dead because it's the most reliable and trusted by the people. And everyone feel safe about it however the return is too small unlike with crypto though it's risky but the return is so high.

I do not understand why we need a block chain banking system? Literally block chain is not a form of any banks wherein you could store your crypto instead it is public record of every transaction being made. There is no under the table on doing the transactions. THis is why we should promote block chain on those banking system to avoid any doubts on the transaction process that includes also on government agency wherein money transactions are being involve. THe government should implement block chain to avoid corruption.

Well this not possible for Bitcoin to out date banking sector because of the fact that banking are the financial institutions run by the government and which performs the jobs for the government. It creates credit; the process of credit creation is very important in advancing loans and giving way to new investments.

Besides, banks perform certain jobs that cannot be performed by Bitcoin alone.  So there will still be a need for banks and that is the reasons banks will stay alive.

I have also read about it. Anyway, I am not sure that the blockchain and cryptocurrencies are going to ruin the banking system. I do believe that they will coexist. There is nothing to worry about.

Well its still takes a lot time for blockchain bank to emerge but there is good sign thay one of the biggest bank common wealth starting to provide blockchain services for enterprises. Blockchain is really good for bank system and soon all bank in the world will use it.

I agree. It is more likely that established structures like banks will adopt to a new reality rather just die. Maybe in the far far future banks will disappear completely, but hardly this will happen during our lifetime. That's not a bad thing btw because if banks were surely doomed, they would fight aggressively against blockchain technologies, but what we can see, especially in more recent times, only a few veteran bores are doing that. The future of blockchain technologies and crypto currencies overall is bright and banks' CEOs are not so stupid to not know it.

Exactly this is right. One thing I would love to add that even if Bitcoin outdate the banking sector, the fiscal and monetary policies will no longer be effective and instrumental in controlling the unemployment and inflation in the country and the Bitcoin along with bringing easiness will also bring a havoc that will be difficult to stop. So it is very important to maintain a balance between the fiat and Bitcoin and government regulations in the Bitcoin might lead to a progressing economy.

Blockchain in the banking sector can really bring a lot of useful, improve it, remove unnecessary costs and expenses.

On holiday, local banks have closed down, failing to provide financial services to individuals and businesses with an urgent need for financial settlement services to handle payments.
The Bitcoin currency code can handle over $ 1 billion in transactions a day. The cryptocurrency trading platform does not break and do transactions 24/7, cryptocurrency users can trade freely even during holidays and weekends via e-wallet.

At Bank, your account is not free
If you want to apply for a bank and credit card account, you can, but your application is by bank and credit card companies. Some people even denied opening an account.
Opening a bank account or requesting a credit card requires filling out long forms and signing contracts that never work for your interests. Bitcoin is free to use and access to anyone without limits.
You are charged less when using crypto
Cryptocurrency is the best way to send international and cheap deals.

Bitcoins and cryptocurrency are changing the world, and are becoming more and more popular. One of the most reasonable approaches for cryptocurrency to gain dominance is to promote decentralized nature.

Blockchain banking is future of banking we can see banks now converted into blockchain based banking old conventional banking is dead

I dont believe old bank will dead. Banks have big infrastructure and if banks bankrupt it will make economy collapse. Banks already in any sector and banks always adapting on every evolve. I am believe banks will use blockchain to make their operation more eficient

Seems logic but I think that it will be fair enough only in the case if cryptocurrency eventually will take place, but in the case of fail of cryptocurrency, all the banks in the world would be just jiggling around us.

Currently,there has been a short fall for most banks. The cryptocurrency Blockchain has mitigated the rate at which people save with banks.Banks offer little interest to the investors.

banks are not alien to use modern technology, and this does not mean that they have lost, they just adapt to the modern world

I don't think banks will be dead.
As long as there are people who are still using bank investment .
It still can operate.
But there is a chance when all people shift and depend into cryptocurrency so they don't use  bank anymore.

The last bank will be closed at the moment of transition to a single digital currency and its recognition as the world currency. While only there are processes on start of such financial system in a new world order.

government must be thinking about the future of bank, and i think that despite the times, banks will stay alive. and we will be able to see government policy later, hopefully side with cryptocurrency

And the best part will be security. If blockchain technology gets implemented in banking systems, it won’t be easy for keyboard warriors to breach such systems. However, I don’t think that banks will show any kind of leniency while charging their customers. More security means more cost which ultimately means more charges. Good services demand heavy amount.

The banking industry will not die, banks can also carry out blockchain projects, banks can be transformed, and blockchains are fair and can be used by anyone. Only the future banks will definitely be changed by the blockchain.

yes you are right for the development of technology and the more technology is created like this digital currency, the people who save their money in the bank will be very little because there is the safest, most convenient method of storing money and can get very many benefits like this cryptocurrency .

In the near future we are not going to need fiat for our transactions, we can already buy stuff directly with bitcoin over the internet and as time goes on this is only going to get more common, and when a significant amount of stores accept bitcoin then people like us could live our lives without ever touching fiat again, so while banking will not disappear you are overestimating the need for fiat.

It would be very nice to try new technologies like cryptocurrency for banking. I am not against it but I have to apologize I did not see banking as dead based on what is currently happening. I am not trying to offend your enthusiastic and lively thinking as I do like cryptocurrency but I think we do need more effort to push bitcoin to become used more often in banks and educate people about it than just plainly saying banking is dead. Anyway thanks for promoting bitcoin.

The introduction of blockchain technology has incredibly brought down the spirit of most banks. The idea of saving at the bank to get little interest has been faded by blockchain technology where people use to buy coins and hodl which fetches them incredible profits than ever.

Yes that is true that banks will continue to survive for a long long time. I do not think that banks are going to quit so soon, because still majority of people are using banks for their main purposes. They are using bitcoin only as optional.

I think  blockhain is to money field

i think the bank is a government relationship and a financial support for a country, so i think conventional banks will still exist, and government will not leave it. even though bank system is changed to blockchain

I bank with one of the largest banking institutions and I cannot wait to not need them anymore. We're almost there. Just the other day, I was trying to send funds to someone using "QuickPay" and received a message saying it required internal review. Not so quick. I've been banking with them for decades.

I don't believe that Banking is dead, Banks are very alive still in our country. Maybe soon but it will still took a lot of time and years to close fiat banks and switch to blockchain banks... it will still be in the future- long way.

Banking is not dead and it can never die.
We need to understand that banking has its functions to the socioeconomic development of the globe,  so also cryptocurrency

Banking can not function as a cryptocurrency vice versa.
So we need both

With the support of the government, the banking system will last forever until government domination ends, the blockchain will not have the opportunity to enter, although it is new technology but the government is very disgusted with it. So you can stop the dream of bank blockchain right here, you have sank so long in the blockchain and crypto world, it always makes you think blockchain is very important to the world but you probably do not know that most people in the world do not care about it.

Logically, conventional banks will not die, because banks continue to play a role in running money circulation nationally. In addition, under the control of the central bank, banks are safer for storing large amounts of money. Bitcoin is indeed safe and convenient for its users because they are mostly highly educated, while from a society that has a low education in a conventional bank it is still safer and more comfortable.

Banking is dead? Nah! Banking is so essential for many people who can't afford to buy things they want in cash. They often need banks for loans and other benefits. Hope you could understand more to it.

From my own perspective, its basically hard to terminate this banking system since cryptocurrencies like bitcoin has so many issues to deal with and currently these developers are unknown. So many accusations the bitcoin is used to fund terrorism, slow transaction, energy consumption, anonymous dealings and creating room for scam projects although, financially, bitcoin is doing awesome at its best but some issues that draws the coin back from its potentials must be dealt with and must be focused on getting its highest potential worldwide.

I do believe bank will not dead even cryptocurrency growing more bigger. Banks have many bussiness and banks already have many experience in many crisis. I think banks will survive and maybe adopting cryptocurrency and blockchain technology

Banks can be likened to be a kind of fuel in the car of any economy, so it's a very necessary establishment in any economy.
Governments cannot run smoothly without banks...
So I believe banks cannot just go into extinction
On the other hand, blockchain is still in it's early developmental stage and so -as many huge potentials and untapped markets and it will continue growing.

The nature of the blockchain will change the core principles of the financial system; because of its security, transparency and non-tamperability!
The application of blockchain technology will open up the possibility of subverting the rules of the banking industry and possibly reshaping the entire industry landscape.

Banking will be dead one day. Although at the present time, it is difficult to admit this but sooner or later, bitcoin will replace the overall banking sector and there will be no more bank to carry out financial  transactions.

Banks also do not stand at one place and are constantly improving their technologies and many banks are already experiencing full blockchain technology because they understand that the blockchain has a future, so most likely banks will not disappear, and they will simply improve their capabilities and services with the help of blockchain and technology this will happen very soon because each bank understands that it is necessary to change faster because then it may be too late.

Blockchain technology has changed people's lifestyles and changed the old bank system to be modern and very easy. Fast delivery and high security are systems that are in demand by modern society and that can be done with blockchain technology. I strongly agree if the bank doesn't adapt and uses the blockchain, then the bank with the traditional system will soon die.

In my opinion, banks and cryptocurrencies are two different things, But, I think it is best to use both crypto and banks, I can see many threads saying that cryptocurrency will kill banks, but I think banks are gonna remain and will be used together with cryptocurrency.

In the present time no other industry can perform the functions of banks and it is true that now most of the profitable businesses is in banking industry and those who are saying that banks are valuable to them they are mostly business man and large scale enterprises because their payments their flow of funds from suppliers to businessmen and vice versa.

In the future possible Blockchain will be used system but still its depend upon the country if they accept or allow it. Also I think banking is not easy to die because many people are still prefer have bank than blockchain banking. For me it still better if both of them are still around, it can only innovate and develop so that people can choose what they want to used because not all people are interested in new trend about technology.

Blockchain is truly a technology that offers very good and modern features than traditional banking but we still have to keep in mind that this technology is not perfect yet, it still has many bugs that hackers can exploit and attack, and with such problems, I do not think that blockchain can be applied and replace the old bank system. Everything is just in the research and testing process, blockchain technology is still not officially appear in the banking system, Blockchain banking is still a dream and a distant future for all of us

Once it's socially accepted and risk-free to make crypto transactions, no one in their right mind would stick with traditional banking systems.

You have little control over your hard-earned money and very little financial privacy or freedom. Various people can know exactly how much you make, what you buy and these funds can be seized by governments. Also expensive to make foreign transactions!! Not too practical in a globalised world.

Banks had a stranglehold on the world's economy. Now thanks to blockchain. liberation is in sight. The common citizen is now going to be free of the tyranny of banking. That's a great thing.

unfortunately at this time there are still many governments that think like that and take action as you think. the government seemed to protect the bank, for the continuity of their economy

And it will continue to do so. I don't see governments taking crypto over conventional banking anytime soon. And banks know that crypto, if it gets mass adoption,  will remove their stranglehold over the people. But banking is far from dead and would probably continue to be the main system for a long time.

This is the wrong view, I don't agree. The banking industry will not disappear, and the blockchain is just a new technology of the bank. The cryptocurrency cannot affect the traditional currency. Banks can easily master blockchain technology, which is not a problem for them.

I guess not. Banks will not let this happen. If blockchain will be very useful and be worldwide use, banks will just adopt this new technology and innovate a new way how to use it more effectively. Also most of the people still seeking the traditional ways of banks because the are sure about the security of their money with. Let be honest, blockchain can still be penetrated by hackers because its still have its own weaknesses. But blockchain is still the future of banking and money.

maybe by using blockchain technology, we will see good collaboration between existing system on bank and blockchain system.bank could save more operational cost , and it will make their profit bigger than before.

I think for now, it will not happen for we know banks are in the system of any government. It has a strong foundation. Maybe blockchain banking will evolved by it will not defeat  banks as of now.

The bank will last a long time even I don't think that the bank system will be replaced even though the cryptocurrency and blockchain system are popular. The government as the holder of power certainly has a different system than the blockchain, the government wants full control and it is not given by blockchain..

This is the wrong view that the banking industry will not die unless humans no longer need any form of trading. The banking industry is the greatest industry, and cryptocurrency is just a new product of finance. It cannot go beyond the banking industry. But the cashless society will come soon. The cryptocurrency and the bank will exist at the same time.

It seems to me that people are really underestimating the capabilities of banks to adapt and to deceive people, if people were very smart they would have adapted bitcoin already or they never would have given the chance for banks to get as powerful as they are, so I really think that many are giving them too much credit, many do not care how the system works as long as they are doing reasonably well and they are not willing to try to change anything as long as that remains true.

This is why adoption is so slow, people do not really see a reason to adopt cryptocurrencies if they are doing well and they are only going to try to change the system once things begin to crash so the disappearance of banks, if it happens, will happen because of the mistakes of banks themselves.

How can bank corporations die if they already have a big start? If you are thinking that with the addition of cryptocurrencies their businesses would shutdown it wouldn't as their main business is still untouchable. Banks are more than capable of sending and receiving your money as their main business is about lending out loans to people with interest so I don't see how cryptocurrencies could affect that. Their customers are also multinational corporations so businesses like that borrowing money from banks is assured will be paid back. In terms of income they won't be affected as much as you think.

Yes long life but first has to  be born
except few ico what took lot of money from people there is not any blockchain banking
Banking is banking if will be bank what will use blockchain than we will have blockchain banking
As for now there is no blockchain bank on that earth

banking or banks is not dead infact banks are still the ones that are being trusted the most by the public when compared to cryptos or any other form of alternatives but many of us are starting to think that  blockchain banking are more secure and trusted because they are held online without single authority controlling them  . the only problem is that it isnt really popular  for now but we will never know in the future  .

The current banking systems that we are having right now will surely stay for very long time even with blockchain technology in place. These institutions are well established already. While blockchain is encountering a very challenging period this year.

I think that we all very much underestimate bankers and banks, it’s foolish to hope that the emergence of Bitcoin could lead to the fact that the banking system in the form in which we know it will collapse. Bankers have long been the owners of many of the largest some cryptocurrency exchanges, and therefore it is they who now set the tone for this whole game.

the government has not been able to recognize the blockchain system as a whole for certain regions, some countries have begun to seriously adopt the blockchain system for their banking even more so including online trading services that have worked with many trusted cryptoTheir juristical regulations have been legalized by a number of world banks, so just wait a little while for the blockchain to enter the world market thoroughly, especially developed countries.

blockchain and banking have their own function.many function bank that could not replace by blockchain .blockchain just a system that could not operated as subject.bank was company that has many financial usage.such as place to save our money, distributed the loan.and also support the country developtment

and maybe just in some country. bank is always lead for now, but will never know in the future. its hard to replacing bank, not all people know about crypto, and they will choice bank because they think bank is easier than crypto.
is there some party that always want to control  crypto in their hand

Cryptocurrency should consider first on how to go mass adoption before we can make a statement that banking is dead...price volatility in crypto is high if this problem will not take any action this will make people hesitant to adopt crypto. In other side, banking has been in the system for many years and they have the support from the governments and defeating them is not an easy job.

these two systems have a big difference, how will banks adopt the blockchain? innovation will definitely happen to banks, but it won't be like a blockchain that prioritizes decentralization. after all the bank is not dead, we are still dependent on the bank until now

This seems to be a good idea but as of now during this times when the market is unfavorable, I think the market is not that good for holding bitcoin and other cryptocurrencies. There might be problems with the values of the coin. Not unless cryptocurrency banks can guarantee a no price fall set up. Yet I think this is no possible unless banks would connect to the real value of dollar  as reference so that bitcoin holdings or deposit may vary but the actual value will not and will stay the same even if price of bitcoin drops.

There are some people in crypto community who are believing that blockchain will replace the current banking systems. However, all their basis is the concept of blockchain that hasn't been made to its potential. This is my reason why I believe that blockchain won't replace banks.

Banking will never die as long as many people dont have access over the internet or not educated with cryptocurrency.
There are till more number of large amount of people and institution who are fighting agaist crypto which they support banking for their financial and savings.
as long merchants all over the world will not start to accept crypto! banks will remain.

Indeed, banks is big institution and have a lot experience in finance industry. I am believe banks will not death but they will adopting blockchain for their service because blockchain is eficient technology that can save a lot cost. Bank already survive in any condition and i am believe banks will survive too this time

Blockchain is technology and any bussiness can use this technology to eficient their bussiness. I am reading an article that banks will adopting blockchain technology to their system and it will make their service more faster and secure. I dont believe blockchain will kill banks bussiness because banks have many bussiness

blockchain and banking will cooporate in their system.blockchain provide effectiveness to manage data.and it could make bank generate profit bigger because there are much cost operational could reduced.

I agree, I understand that people get very excited with bitcoin as a technology and as a way to change the way the world works, I understand that because I get very excited about it too but we cannot let that excitement blind us to the truth, bitcoin has a long road ahead of it before it can do anything close to killing banks, bitcoin is used only by a few millions of users around the world and despite our best efforts the adoption of bitcoin is still very slow.

So before thinking about destroying banks and replacing them with new institutions or with no institutions at all it is better to think about the realities of bitcoin, we need more adoption and we also need to be able to use our bitcoin for something else than buying more cryptocurrencies.

Blockchain will completely reshape and upgrade the banking sector in future. The overwhelming popularity of cryptocurrencies and ICO's are good examples of it. It will be hard to deny the potential of Blockchain technology for banking officials.

Indeed, banking as we know it is not sustainable.  Naturally, those of us involved in crypto would hope that blockchain tech is the answer or the next big innovative tech to fill the space.  I am a little skeptical, yes digital is the way forward, i'm just not certain that the 'powers that be' would accommodate cyrpto in the way that we all want it, decentralized.  A fundamental factor in about banking today is governance and control, crytpo in a sense seeks to disrupt that therefore they might continue to frown at the concept and look at other digital methods.

the world must follow the developing technology, the concepts and systems currently being run by the Bank are old concepts. Blockchain technology comes with all its advantages and will make life easier for humanity, Blockchain must continue to grow and expand...

I agree. But, I also see banks evolving to enable them to adjust their systems and accommodate  the new wave of technologies that would affect the business and investment sector, and one of those is the rise of cryptocurrencies. These past several years, it has been quite a revelation how cryptocurrenices have taken the market by storm, and so, many have been enticed to invest in it and try their hand into investing in the market. It's not new that it has its negative things with it, but nonetheless, if you are serious about it, it has a lot of potential to grow.

I am agree. Banks have a lot experience and i am believe the already anticipating on blockchain. Maybe they will adopting blockchain in their bussiness and its make banks bussiness more eficient and cheap for customer. I am believe banks will still exist because still needed by many people

Banking system will remain as usual and they will adopt the blockchain.
As long as the government protects their own interest instead of the masses, we cannot eliminate them in the line.
This is the sad reality that is why we are so dependent with the government now and it has ruin crypto as evidence by the crash that we are witnessing.

The blockchain is a revolutionary technology that was created in 2009. This technology was created to change the old banking system. with blockchain technology, transactions between A and B can occur without intermediaries, in a short time and are cheaper and safer. and blockchain technology can be used in all fields of industry, banking and others.

yes, I agree with you, blockchain technology is very much used in the digital era like now. with blockchain technology, all money transactions will be more transparent, faster and cheaper. use blockchain more efficiently than through a traditional banking system. and in my opinion the blockchain technology was created not only to overcome financial problems but also can be applied in the fields of industry, health and in the company.

It hasn't been made to its potential due to regulations that pose banks and there are huge barriers for a big portion of the society that cannot access the cryptocurrency community.
As long as banks will find their way to implement the blockchain technology to its banking services that it is for sure that blockchain banking will be on top of anything. Same happened with Internet Banking.

If banks need more money for their expenses then they can print as much as money they wat to the change is not going to come because of this reason but when people understand that we are working for banks to operate and our money losing the value day by day then the change will come.Even if we are not get into the full adoption supporting it to grow will make the considerable changes to the blockchain technology.

I believe this is actually the secret prayer of anyone who has joined cryptocurrency already. We wish that banks will no longer function so that our cryptocurrency and blockchain will take over the global financial system.

Many people have claimed in the past that banking as we know it is going to die but I have always been doubtful of such statements because people are assuming that banks are not going to adapt to the change the cryptocurrencies are going to bring to the banking industry, something that is simply not true, banks are going to adapt and are going to do everything they can to avoid disappearing and if that means that they need to adopt the blockchain or even cryptocurrencies they will do it.

The one who wrote this topic is probably not aware of the fact that multinational banking corporations have been developing various blockchain-based software solutions for several years in a row, and they have pretty good progress in this regard. Therefore, they are adapting to new manifestations and new technologies very successfully.

Blockchain is a very good technology and it's going to be very useful to be implemented in the banking sector, it could settle a lot of problems, now it's depends on the government how they want to do with technology, I think it will be great for the future if we can implement blockchain technology in all sectors

Blockchain does have many advantages and has followed its development so it already has its own software. This makes it easy for us to develop blockchain technology and it will certainly be easier, faster and more effective.