Bitcoin Forum

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen  the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

I think we don't need these but if its for the adoption it will be unstoppable. What would be the purpose of having cryptobanks? our wallets will be safe and stored to them? we already have our own wallets and we can be already our own bank.

They will start lending with bitcoin and you shall pay them with cash or bitcoin too? well we already have this on Lending section of the forum. I guess I'm missing something of their usefulness but I can't think of it.

I think that it really depends what you mean by 'bank.' If you are talking about entities that serve a retail customer base, I think that in the fullness of time an entirely new type of operation will be born. Bank is part of the old paradigm. There are certain reasons a central entity that trade passes through adds value, for instance if I want to loan money today, but Sasha only shows up to borrow that amount of money 2 days later, a 'bank' will manage the transactions so that both people's needs are meant. But there are a whole lot of things associated with banking like the concept of fractional reserve capital management (http://www.financemagnates.com/cryptocurrency/bloggers-5/heads-win-tails-lose-business-usual-buy-rscoin/) that will no longer have meaning. This freaks the living jizz out of central banks, governments and the old guard in equal measure.
So I believe new types of entities will arise from the crypto-economy that will have some of the properties of banks, but will be entirely new entities. What that will look like?... well I'm not clever enough to imagine it. But I will enjoy seeing what the amazing brains of the crypto-culture will come up with.
I am already amazed by some of the things I am seeing.

There are three phases we may need to go through before having society where cryptobanks are dominating. These phases are being assumed to happen based on how a new concept will be accepted and will be incorporated where security and convince are most valuable criteria.

In the first phase, traditional banks will adopt blockchain technology and few cryptos but customers will not be allowed to protected by decentralization's concepts but you may enjoy a part of crypto banking along with our current banking-centralized-system. I guess this is purely an evaluation just due to the emerging technology, blockchain. Both banking system and customers will realize the benefits of having a blockchain based system for their financial needs.

In second phase, people start to realize having a decentralized system for their financial needs which may lead to have non-regulated crypto based banking sector still you may need to depend on third party but your privacy and being anonymous kind of features will be provided. Your employer may prefer to pay in crypto using these banks and you pay taxes only for availing services and buying good but NOT at all for your income.

In third phase, people start realizing why they need a banking services when their wallet itself having all the functionalities of a bank. Now, you may not need to pay taxes even for services and goods as taxes are optional only if you prefer to declare your financial activities.

Yes, crypto banks are the future but it would take more time to function as a most commonly used system.

I think it is ok when governments regulate financial sector because I am honest person who doesn't have illegal money or buy/sell something illegal.   ::)

For Banks on adopting Blockchain tech then they are already starting but talking generally when collaborating Crypto and Banks  would really be impossible. It would exist no matter what knowing that
government do really likes for all things to be centralized and heck, why we would need up Banks for our coins if we do have our own wallets?

Crypto-banks already do exist. A bank account with crypto, you have wirex, bitwalla, mistertango, epayment.... Yes, they are only online banks but the future of the banking will be online and you can already see it with all the neobanks popping out.
The trend is now for the neobanks, people aren't interested to use the traditional banks anymore.

Most of the Governments won't do this! they need things to be centralized as they wanna keep an eye on everything!  ::)

It is always very difficult to adopt new systems. People use to say that it will be very difficult to adopt. But new things come and replaces  old. Like initially there was very few social media websites. When ORKUT or HI5 came everyone was saying that no social media website will be successful. But facebook was there and you can imagine the number of account on facebook. Then everyone was thinking it is the end, then twitter, insta, linkedin and many more to come.

SO it can be future,

I guess the future is towards mass adoption after all ;) We need more projects that will operate as crypto payment gateways among merchants and individuals like MFX, so that we can integrate them faster and easier in our daily lives.

Only if our world creates something ACTUALLY decentralized.

You almost got it. It's really true that day by day we are getting very positive news about crypto though current market is not good because of SEC. However, there is no doubt we are going to be a proof of the great crypto history.

Of course we will build a history if today is not good days so never lose your hope I am sure we will have good days very soon. It is great feeling to see something you invested for so this way I think bitcoin will gain more investors and they will have big profit. Even when there was no crypto bank system but bitcoin were save in wallets but just hope for the best it is great news.

Main question is what would be the purpose of crypto banks? I think many people don`t understand how banks work, people don`t understand how crypto work, but they are combining this two anyway. There is nothing useful for people in cryptobanks, what banks can do is to make their own alt, but its on people will they use their coin and support them, or they will support decentralized platforms that can be beneficial for entire human race, not just for people who own banks, what ever kind of banks.
We have wallets and we can be our own bank, no matter how many times we repeat that people still don`t get it.

maybe you mean the world of banking will adopt the blockchain as their transaction technology. or maybe banks will make crypto currency products such as Bitcoin (BTC), Ethereum (ETH), Stellar (STR / XLM), and others. I did not find the red thread of the topic you are talking about, but that is what I caught. maybe you can share the source link of the article you are reading, so friends here can learn.

The question is who and who is even interested in the banks you’re talking about? I have not seen anyone that is interested in anything about Cryptocurrency banks.

When it comes to making use of Bitcoin or any cryptocurrencies, all you need is just your crypto wallet and nothing else, you don’t really need anything bank. There are different types of safe wallets that you can use to store you coins safely just like Trezor and the rest of them.

With the emergence of cryptocurrency and world globalization, banks should disappear altogether, a high degree of confidence in cryptocurrency transactions and payments, transparency and the absence of commissions, digital data recording should all lead to the transition to universal use of crypto payments. Banks have nothing to profit in a cryptocurrency society.
Crypto banks are your personal wallets, you decide where to transfer your funds, to whom to entrust your coins.

Can you provide me with the info which countries are preparing for cryptobanks? Blockchain-based Cryptobanks will be good but it's another task if government wants this. They saw great benefit of blockchain technologies and are implementing it in a lot of services, not only governments but also corporations and different services. As I see, government don't want/need independent people so they don't want decentralized systems. Or if they accept it, it will be to blind people that such thing exists and they'll offer their cryptocurrency and etc.

You should have at least include the links so that we can see what this crypto banking projects you are talking about. Might just be that banks are taking advantage of blockchain technology to help them more productive.


Definitely, I believed that crypto will be the future of financial system. People doesn't need a third party to make transactions, that's a huge step. And that's why government wanted to regulate it, I guess it's still a win-win situation though, we can enjoy crypto and at the same time government imposing tax on it can probably help them fund various public expenditures.

I dont think that it will affect crypto currencies cause as we are seeing banking institutions are looking forward to integrate their technology to bitcoin that is why they're developing their own blockchain system. Maybe they can find a way to regulate crypto's but most of this banksters doesn't really understand what bitcoin is and how to use it, so exploits like in their fiat system will be very unlikely.

But big "IF", if those funds would really be used up on public expenditures.We cant really change the fact that Taxes is really an important thing for a certain countries economy to grow. Going back on topic,
I don't know on what kind of Cryptobanks is being talking about here just like been said or asked above, is this literally talking cryptobanks or the usage of banks of blockchain tech?
We don't need banks for our crypto holdings since our wallet would be enough.

Why on earth would we need a crypto bank?  The point of crypto is to be your own bank, bitcoin was created to get away from the slavery of the central banking system.

New users will eventually learn how to be more secure and it will be second nature to them.  IT is really simple but I think the older generation is scared that they will lose their coins.

It depends what does it mean cryptobank. With the mass adoption of crypto such as Bitcoin the banks are not really needed. Anyway banks are quite powerful institutions so i  would see them in the crypto future as kind of intermediaries between people who would like to lend and borrow money. Their experience in rating creditworthiness would be useful.

In general I think that crypto banks are good idea. They would enable better Bitcoin related services to users and maybe give some security and protection to the users. Of course they should be fully regulated and under control of financial system. On the other hand such idea in practice could be made completely wrong and I know that some users are afraid of centralization and control such institution might bring.

I would say it depends on the way we are looking at it and divergent views would surely arise in controversial topics like this. For me, I don't believe in any crypto banks because for one it negates the entire reason for crypto that takes  the safety of funds away from conglomerates and return it to the hands of individuals which means the moment we start to advocate for crypto banks we are returning power to those we try to take it away from in the first place. Again those current service providers that have acted like quassi banks have been found wanting in keeping the funds entrusted in their care safe which then transfer liabilities to the owner of such funds.

I think the future of Bitcoin will be in doubt then Crypto banks are not possible like we are thinking in short period of time it takes many years to accept and used by the government if it happens it will very useful for a lot of people can I know

You won’t even need those to make use of cryptocurrency. Cryptocurrency doesn’t need banks, all you need is just your wallets and that’s all. Most of these people you see talk about banks are likely to be scammers and once your coins goes into their hands it’s gone, so you better stay safe and forget those.

Bitcoin was made to give you freedom from banks and not to bring you out from banks and put you into another type of banks. When it comes to crypto you’re in charge of your money and you control everything right from your wallet.

there will be no crypto bank seperately for crypto ,but there is high chance that current bank might use crypto growth as an opportunity to include crypto in their banking system,as there are multiple news of blockchain technology acceptance by banks,we might see crypto adoption as well. but this should not happen as crypto main motive is to provide decentralization to the current payment system and holding your asset on your own.

The possibility of improving Crypto banks are very less in this situation but the future will be definitely increasing the possibility for that but in the situation my opinion is there is no possibility for that to improve the banks and it will definitely change soon.

Yes and im looking forward on it. What will you do if you have this old business that will become bankrupt because of the new and moders business that comssumes you?.  Ofcourse yoh will rather be closed or adopt the system. Banks will never be closed so they will adapt on cryptocurrency and make the best out of it.

Already we've got lot of crypto banks that were operating virtually. Very few number of banks were completely functional using cryptocurrencies physically. This will change with more cryptocurrency banks into existence marking a big change over the global banking industry.

Crypto doesn't necessarily need centralized regulations or banking institutions - legalization or adoption in fact it has survived without it. So having institutional investors and centralized banks taking a liking to crypto and blockchain technology could even help boost crypto mass adoption. So yeah it has a positive impact in both price and stability.

Bitcoin = decentralize
CryptoBank = centralize

So I doubt that everyone will used or even move their coins to these so-called cryptobanks. If you are into cryptocurrency, then you know that we are the bank itself and we control everything. Why the hell we need cryptobanking then? Regarding state regulation, it's still debatable though, it's definitely has a effect whether positive or negative, but it's better as compare to a total ban crypto ban by governments around the world.

I believe that in order to maintain their own assets, states will be able to maintain their own crypto money or to adopt an international cryptocurrency project in order to maintain the provision of inter-state relations and trade.

Is cryptocurrency are to be accepted by the normal country currency by all over the world then Crypto banks will definitely play important role in the development and the economic changes of the total world if definitely happened soon then treated banks will be involved in this case.

I have read other opinions that Central banks discourage the introduction of cryptocurrencies.They accept blockchain, there is no cryptocurrency.Where the state has introduced cryptocurrency,such as Venezuela,much success yet.

The future of banks will not be the crypto banks, it will be the end of banking sector. If Bitcoin is implemented in a true sense, then there is no need left for banks. Everything will be managed without the banks and all the cost involved in the manpower of bank will be eliminated.

Cryptocurrency will consume the banking sector, that's the future.

Stop letting anyone deceive you with this crypto banks of a thing, they are never going to work . We don’t even need crypto banks, it is the same thing as the banks you have right now. Crypto was created to have only wallets which let’s you be in control of your money and having your money controlled by any kind of organization. So anyone saying there will be a crypto banks is just lying .

Well, maybe they have future, but whole idea of crypto is being their own bank, no middle man. People who understand crypto don't need it, but if you wanna start a bank - ask ingramer.com for a ig promotion.

cryptobank will be the future now that technology is growing very fast and technology needs are very requested by everyone we will see in the next few years how crytpobank is growing rapidly

bullshit
Your post doesn't make any sense
Where is the demand for crypto banks? Do you even know someone who doesn't know what is crypto but is looking for a crypto bank? If the crypto industry doesn't progress the demand won't increase. And currently, the industry is stagnating since months.
And with the regulations maybe the crypto bank field will never be born

Crypto Bank Already exist in the world , With crypto  you are at you own bank , there is allot  of crypto  companies  giving loans in crypto  , there are so many crypto ATM machine  across the globe .. Very soon all the financial sector i will adopt it and in the near future crypto  will take the lead in the financial sector  !!!

Last year I read an article that a resident of Australia is going to open the first cryptobank in his country. And also I studied several ICO projects that offered mobile crypto banking. From all this I want to say that I still hold the majority opinion that we ourselves must be our own bank in order to manage our funds ourselves.

Cryptos arent banks because they are currencies but they can also store a value , thats why people will mistaken it as a bank and they think its better because they can earn huge returns but the risk are also big  .  

The cryptobank that op is talking about is not the actual crypto but it is a blockchain powered payment system with the idea that is the same as banks  . i dont think that they are more better than cryptos  .

Crypto will only be the one that can be called the future  .  the future of money  . nothing more , nothing less . others out there are just a copy paste .

Cryptocurrencies as a store of value overrides any possibility of crypto bank.
Wallets is just like a mini bank where hodlers has an easy accessibility and ability to change any crypto to fiat if there is need for it thus establishment of crypto banks will not thrive in the ecosystem.

Without a doubt, decentralized, global cryptobank is the future! We have witnessed how the mode of payment changed from fiat to digital (mobile banking, Gcash payment, etc.). And now, we already have cryptobanks in some countries like Singapore, India and Switzerland. It's just that the idea of blockchain-based digital banking is still not that known to many, but I believe that when these ignorant rats get to realize its benefits such as fast, transparent, hassle-free access to their very own assets, they would adopt it, and this is irresistible and inevitable.

If your country really do that. Because what if the your country and governments don't wants cryptobanks?
But cryptobanks maybe will good for the movement of the bitcoin and altcoins because it can help to advertise people because they will be curious of what is cryptobanks and possible for then to invest them also like us.

2 systems will exist in parallel, these are the usual Bank money transfers using Bank cards and new systems based on smart contracts. However,I think that the state will support only its official cryptocurrency,such as Petro in Venezuela.

Not sure anymore if banks are the future, they're certainly very much the present as it stands. We've got on one side the traditional fiat banks now branching out into crypto services. You can see in West Europe some smaller banks have almost completely shifted over to blockchain banking. We see also several new projects last year especially, wanting to be the first crypto banks.

Then you have all the financial services companies who're not banks but might as well be: crypto custodial services, exchanges, remittance. None of which allow you to control your funds the way Bitcoin was meant to be. It's what people want today, it's where the demand is. Mayhaps one day people reject these for self-determination. Mayhaps not.

I hundred percent agree that bitcoin and cryptocurrencies is going to be the future of our financial system and the earliest the third world countries understand the future and what blockchain technology hold for us the earliest they will liberate themselves from the hold of developed countries.  Cryptocurrencies is the future of our financial system and maybe in 10 to 20 years to come the convention financial system we have may not going to be in existence again.  Everything financial transactions are going to be done through blockchain network and process.

i don't think that bitcoin will be in a financial system because the future of bitcoins seems not good enough. every banking system is depends on physical assets thus bitcoins is based on software system not physical assets.

Yes, I highly believe it will happen. I remember watching a show where the head of the banks interviews a guy that suggests digital transaction. The bosses did not like that idea and they feel it's like a threat to banks but now look at where we are now. Time knows only when.

For me, a cryptocurrency banking system will take time to be established. Well yes, the financial system's innovation will be the cryptocurrency market in the future but the thing is, I don't see any point of having a cryptocurrency bank beside from bitcoin being centralized and controlled. We have our wallets already and that is enough for our banking though I think having a crypto-bank will give us more benefits such as time deposits, secured investments and so on since it's a "bank". Let's see how fin-tech will adopt this technology and make it mature enough to be trusted.

Due to the instability of the cryptocurrency tbh I don't think it is promising, at least for now it is still a kind of investing, and it cannot challenge fiat. And I agree with some of the posts here, the governments in the world are mostly still very centralized esp on the economy side, it will not allow the cryptocurrencies raised most of the money from citizens. See China, even fiat is limitted to be exchanged and flow out to abroad.

PS: I am not a local English speaker, so any grammatical problem please ignore...

do you mean like this https://www.baanxapp.com ?

I think the government will not approve such without bank payments.
For me, as a user, of course, it would be better, and I hope that this will happen. In general, I am waiting for the cryptocurrency to be implemented everywhere, although not in all countries.

I agree with you. but this is still far away, and the government will not let go of allowing this to happen beyond the control of the government. they will try to take over and make it happen. there will be many regulations that they think are the best, but they cannot be the best for all.

Governments were working for the banks literally so if there is any service implemented by the banks the governments will approve it but we don't need any banks for the crypto storage,we are our own banks. :)So even if they approve as well don't use and pay for that useless service.

Before cryptobanks become future, cryptomarket should:
1. Be regulated by governments and international organizations;
2. Choose which cryptocurrency will be used as a way of payment;
3. Update the technology and provide safety of system.
So, if these problem will be fixed, maybe cryptobanks will become our future ::)

The cryptocurrencies or blockchain technology is going to be the future of our financial and banking system.  We should endeavour to be able to spend quality time studying it in other to be able to be part of the future.  If we abandoned blockchain technology the current banking system is not good in future.

Stay away from Bitforex, Bitforex has been performing wash trades and here are some of the token pairs where these bot trades can be detected.

https://medium.com/@sallyalexon/bitforex-the-biggest-wash-trading-exchange-in-the-world-8245e9ca910a

Thank you for bringing up this information in here and we get aware of these.

In somehow we realize that even it listed already in CMC still they wanting trick people and be their victims. They are just greedy and never think good for the community instead they'll just ruining it's future.  Anyways, we cant put end of our trust into crypto just for this scenario and I'm pretty sure they'll be won't staying in here for long and just disappear.

Cryptobanks is the worst idea, a strategy to keep the conventional banking system in a modern way of digital money.
Cryptos are designed differently that they don't need such banking sytems. Regulation has also created few hurdles for the crypto users but it is still acceptable if we want global adoption of digital currencies.

I lts preferable to store assets in crypto than banks since you have full control over your funds when holding crypto. It also provides better security of funds and great potential for having greater return. Having crypto allows you not just to store money but also  to transact without intervention and lowest fee unlike banks which has good amount of interest.

Not only a worst idea but this is typically contrary on why cryptocurrencies is being created. Even though cryptobanks would be there I don't think that there would be users
who would entrust on using up their service yet our own wallets would already enough on storing up our assets.So, whats the point on creating this bullsh*t banks?

Having a cryptobanks defeat the purpose of having a decentralized system of payments/transactions as cryptocurrencies (like bitcoin) does not rely on third-party institutions. But we cannot deny that shifting to a digitalized form of payment may be the future if the whole-world will adopt to this kind of change. If that happens, expect the government to regulate and impose taxation.


The only way that I see cryptocurrencies as a way of payment is when its price stabilizes and becomes less-volatile. If the price continues to be volatile, it may brinng financial imbalance and harm to the country and may result to inflation. Not to mention, they need to address the issue of scarcity as bitcoin only has 21 million at the moment.

Truly, if it is for the adoption of the crypto currency for our future, then there is a possibility for an unstoppable occurence of the cryptobanks. But if I were to ask, this is also not necessary because we all already have our crypto currency wallets, as well as the blockchain its always there for us. Our crypto wallets are there always present and we are the owner of it. We can get our money whenever we wanted. And more than that, we always have our wallets within us, so what for it this crypto banks then? The concept there is a bit twisted. Having the crypto banks even though we already have put own crypto wallets? For this, I guess only few will use the cryptobanks, as the competition between the crypto banks and crypto wallets will be truly can conclude. More than all of this, we have the decentralization where we all anonymous in sending and receiving money. But if we all engage in crypto banks, insn't it will become a centralized? And all of the users will have a profile known, which also the appearance of the government presence will come at hand too, wanting to regulate it and have crypto users to pay taxes.

I think many things happen tomorrow but question is how did mutual with flit money with cryptocurrency? Normal banking system is centralized and cryptocurrency is decentralized. So there are two different system actually.

In normal banking system, if any fraudulent happen we can easily track him but in cryptocurrency we can not track him so that how it will come in cryptobanking its really a changing to me. Waiting to see what is happening next days.

I hope OP might not read about the Ripple's collaboration with the western and Saudi Arabian banks. Even a few weeks before also I have read that crypto bank adoption discussion on citi bank side. If the centralized banks accepted cryptos means we should confirm that again we gonna be controlled by one medium. First thing cryptos are meant to use the finance independently, if that happens I am not sure how we can be anonymous and secured. Your wallet is the bank I believe nothing more we need apart from that to handle finance.

  Actually decentralization of crypto currency is making it famous and centralization of banks is making is now down as compare to crypto currency because it is only a way to save our money but people found crypto currency better than it, they are trusting it better, they are using it as cash, as money saving resource and as entire future, so this shows crypto currency has shining bright future.

Theres no assurance that crypto would have a bright future yet theres no guarantee on where this market would heading.We know regulations and legalization is really
hard which is the main thing why full adoption is on blockage.About cryptobanks, i dont see a reason why it would needed to be created, thats why crypto becomes famous because on our own assets/money we can make ourselves as banks and all the wallets needed for storage is already sufficient thats why i dont know why we need banks once again.

Cryptobank project will be a good development but I believe that the blockchain is already performing that role of crypto bank because it transactions are carried out on the blockchain and records kept on the blockchain network. Having a project for that will be to give it a physical identity which will be far from anonymousness.

Well even banks want to start using blockchain in their own operations so we know it definitely have advantages over the traditional model. I've heard about certain crypto "banks" though I've never really used any (none in my country).

Considering we are responsible for our own crypto, the only service I'd probably avail from such a bank would be credit. Currently using a credit card for my purchases.

Well, if it is happened then it is good but still we don't need it. It is going on because of governments want to use our money. Even we all are using wallet then why we need banking system?
It is not our demand but it government demand, so let see. But at least it will be benefit for those countries where governments not accept crypto currency, at least this banking system could give them a chance. 

Cryptobank in question is certainly a third party right? they certainly will have a separate system that can control user funds,
and in my opinion who loves decentralization, it's not a good idea, I don't think that the cryptobank will have a good future

Crypto Banks have a long way to go before they could ever attempt to surpass the current banking system, the world is not even remotely ready for something of that magnitude. It could definitely carve up a decent chunk of the market share for themselves but it won't even be the future for a long long time, we may not see it in our lifetime to be exact.

The banking system is heavily favoring the banks of our age and they have so much power over not just economy but the whole political aspect of the world that anytime any rival appears they will just bribe the right people and shut down any competition they could get, with that much power and money it is almost impossible to beat those people unless people go against them willingly losing more favorable options.

Even if this can be realized, I think there should be only 2-5 main cryptocurrencies that should be used as a benchmark, while others have been ensured to disrupt the continuity of the crypto ecosystem if they still exist

Cryptobank would separate the community into two categories.
In general, the idea of a cryptobank is opposed to the initial notion of the blockchain ecosystem where people can transfer value without a third party being involved in between.There would be people that would like that idea or they will try to implement it in their projects of course.

Holding cryptocurrency is all about being your own bank. The banks won't go away they will still be here in the future, even in the event that the world abandons the fiat system.
The banks will, in the end, find a new way of making money, so there's a chance that our banks in the future will add crypto exchanges into there business, so every bank costumers will be able to trade crypto in their home bank.

It's not similar to banking if you are just holding, banks gives interest therefore you money will grow but in crypto there is no assurance that it will grow.
Bank is for savings, while crypto is for investing, the first one does not have risk which crypto has, that's my own definition.

all possibilities can occur without anyone who can find out all the developments of the era and the technology that is possible so that the government can also use an economic system that uses advances in the era and technology

Nevertheless, more and more people do understand that we need cryptobanks. With their help, we will make more profitable exchanges. They will give us more chances to make money with crypto.

What's been stated in the quote is the right definition for banks and cryptocurrency. With banks we can save, in terms of cryptocurrency too we can save. Here with cryptocurrency we cannot get assurance of our savings. The growth can happen in the uptrend or it could go low. With banks one gets an assurance of earning as interest will be provided for the savings. From my understanding one who have begun to save in terms of cryptocurrency will never move to bank savings.

i dont think that you can earn more with crypto banks because you still need to pay before you can use thier service and the concept of crypto banks is storing a crypto right ? that simply means you can still loose because crypto banks are not reponsible to secure the value of your money from volatility .  i dont see any valid reason why we will be needing such kind of bank   . right now traditional banks are now slowly recognizing cryptos and they are already enough  .

`You can use their service` sum up everything about the banks, they are just service, now and they will be just a service. They will need to find a way to stay in business, cause what are they doing now and how they are earning now will be replaced by cryptocurrencies, we will be our own banks, we will send and receive money on distance without them. What way will they find is up to them, will they make their coins like some of them started to do, or they will become exchanges one day, I think we will see many of the banks trying something, but not all of them will stay alive.

Lol, we don’t even need anything bank. I see some projects that claims to be cryptocurrency banks and I just laugh at them. What exactly do they have to offer? They can’t even do up to 10% of what banks can do and one thing for sure is that they can’t give loans to people. So they don’t stand a chance. I have seen how some cryptocurrency loan platforms works and I don’t really fancy them.

Moreover, cryptocurrency doesn’t need banks, your wallet already serves for everything that you need, and that includes sending and receiving money, some wallets also offers debit cards that allows you to withdraw cash from ATMs' where the card is being accepted. So you don’t really need for cryptocurrency and by the way it is not even a real money, rather it’s an asset you purchase and own with your fiat.

all possibilities can happen and no one can confirm that if the development and crypto bank technology will be needed, I think the government will do that by adopting an economic system that is used by crypto currencies

We may need a lot of time for this change. Today, price volatility is not allowing most of the crypto banks to continue as it is.
Personally, I do not think we can continue with a decentralized system. So we will try the more advanced type of central system.

I don't trust in any form of bank, i mean a bank is a bank and the hole purpose of the blockchain is to avoid this kind of systems for the financial liberty.

Isn't a bank exactly that what cryptos not need and are made for? I mean yeah they tell you that they are going to store your cryptos safe. but when you are prepared for the worst, you should be able to manage your cryptos safely by yourself. i don't trust banks, so i also don't like the way with cryptobanks. maybe it's ok for now to fill the gap between fiat and cryptos... but for the longterm i really hope that cryptobanks aren't a big thing.

I totally agree that electronic money will be the financial system in the future. We cannot deny its utility. It makes millions of transactions easier every day at a very low cost.
In the future, if banks do not apply blockchain technology in their financial systems, other businesses will quickly do so.

I don't think so, in the future banking system will still dominant by the today's system maybe will be influenced a little by crypto, but the government won't allowed too many changes in bank because the bank need to have control over the economic system to balance the inflation, bank and crypto will create a good harmonisation if its being used correctly and in balance

I also i don't think the crypto banks is the future, the bank will work as today for more time, they like to have money and to give loans and take a lot of interest and also governments like the way how bank works.

Government can do anything, i don’t want to be limited because of the bad government actions but I think they can make their own coin for sure. Cryptobanks are not totally needed, but if there is someone who are willing to take challenge the real banks then it would be a nice move for them. Right now its not possible, the future will make it more possible.

I think the people are interested with crypto banks depends on it really works either it is a centralized or decentralized bank that will take good care of our funds but to be honest we don't need them as the wallets we have are more secure than this kind of banks. We have the full control of our wallets that is why I think people will stay away from it but we also have to accept the fact that there are people who still have interests in using such cryptobanks.

Cryptocurrency like bitcoin created by satoshi because not trust on banking system. People can make transaction peer to peer and i dont think need cryptobanking project. When exchanger getting bigger and have feature to deposit and withdrawal direct from our bank account, i think cryptobanking less needed and dont have good prospect

right, everyone like having a private bank, so the cryptobank doesn't seem to have many functions. what is needed is only additional security so that our wallet is not easily hacked by hackers

I do not think that crypto banks in their pure form will be able to occupy a serious niche, at least in the near future. There are several reasons. The main thing is that ordinary banks just will not give up their territory, the second is the strong volatility of the market.

We might be thinking that crypto will be competing fiat banks and turning them into crypto banks. I've never think that it have to be like that knowing that still there is a huge numbers of fiat users rather than of crypto adopters. This could be a way that crypto banks in the future will looks so impossible and people would stick into fiat banks.

Well if this happens, then Bitcoin becomes a mere technical curiosity.

The whole idea is to keep money controlled by decentralized masses. If you centralize it like fiat, then Bitcoin becomes a mere technical curiosity like a credit card was 40 years ago.

The only thing that makes cryptos special is decentralization. If you take that away, then forget about it.

if they really do the job well and are in accordance with the plan and can be accepted by the crypto currency holders then they will be very developed like the FIAT currency bank. can even develop faster.

Nailed it, that's one of the hurdle of why the digital currencies and blockchain tech aren't advancing in each government.
They just need to keep an eye on the taxes in particular, if you dig deeper property taxes or estate taxes for digital currency.

If crypto banks are in demand for their specific services, they will be a good complement to the decentralized cryptocurrency. I think that such banks will partially provide services in ordinary currency and their ratio to cryptocurrency will depend on the specific demand for certain services. In any case, crypto banks will positively influence the development of a common cryptocurrency.

I agree with the electronic money call as the future of the financial system. Certainly the battle between banks and blockchain businesses will take place but I guess that banks will have to convert their payment services if they want to continue to grow. After 5 to 7 years, blockchain technology will take new steps and it can completely serve financial enterprises and still secure the money for customers. ;)

Job of making transactions right? But in crypto currency you can make it on your own and if you give control of your funds to someone then they will steal your money.There is no need for crypto banks because it is already in digital form so we no need a place to store it.

Crypto banking won't exist in the near future as this will get termed to be a centralized platform. People prefer cryptocurrency for its decentralized access which we cannot expect with banking services. Maybe there will be services between banks and cryptocurrencies tied together, that will help with enriching the cryptocurrency community as well banking move forward supporting each other.

I myself agree because nowadays it's also the digital era so we also can't avoid it. if cryptocurrency is good future money, then those who work are not difficult to use and we will also be facilitated, but of course it is not easy to realize because each country must have its own regulations so that it can take a long time.

One of the biggest benefits to cryptocurrency is the fact that you don't need to use a bank in order to keep your money safe. Exchanges should be seen as a temporary holding location when you want to convert your money into fiat currency or a different cryptocurrency. Ultimately though some people will rather keep their bitcoin with a secure provider if it is too difficult or dangerous to secure it on their own pc.

Crypto currency can not have banks, the whole point of crypto is to be decentralized and banks deify that concept, with coins like bitcoin and ethereum where they are blockchain based they don't need a bank and the coins are stored in the network where you are your own bank and every transaction made is secure and fast unlike banks where you are a pray to thief and hackers and at any time they could just take away your money.

Yes definitely cryptobank had the wild opening in the middle of the people in the society especially when economic situation will be critical in this cryptocurrency will be the most important think to solve the all problems so I think it will work in any kind of situation

It is indeed a good idea but how can we be really sure that it is safer than traditional banking when cryptocurrency exchanges in the market are getting hacked? When security is one of the concerns, even traditional banking isn't fool proof, especially the consumers.

See banks means centralized economy system.  If we need banks than whole concept of decentralized currency would be contradictory.  But if crypto banks able to get a way out to retain people privacy and concept of decentralization(which seems to be not possible) then it would definitely the future.

No, it is just decentralized blockchain technology that governments are against, like Bitcoin for example. They would love a private blockchain that only they control, they would love only digital currencies that they can easily track. You can track XRP for example,,, exactly and easily and know who it went to, even freeze it if you want to. Which country does not want that level of control?

The use of blockchain in banking industry is happening and is definitely a future. Blockchain has all the quality to disrupt the banking industry. But I think of cryptos go mainstream, we won't really need banks. We wont be this much dependent upon them. Regarding banks integrating smart contracts. That's the possible use case.

I do not understand a little what crypto banks will do. Regular banks are mainly engaged in lending to individuals and legal entities, social programs and entire sectors of the economy. In my opinion, lending in cryptocurrency is too risky for banks. Unless conditions of such crediting will be too specific.
Services for the usual exchange of cryptocurrency on fiat will be provided by all ordinary banks.
In general, we need to look in practice at what services crypto banks will provide in order to make a conclusion whether we need them or not. In any case, their activities will depend on the demand for such services.

I have the belief that any bank is just a bank and nothing more and i think that the same goes with the cryptobank, the hole idea of crypto technology is that we should not do transaction thru the bank, right?

first of all, I do not think "Crypto" and "bank" should be a word. because both are a different thing, I mean they are literally competitors. well, I do not think the crypto world needs the involvement of banking systems because that will make it centralized and the government will try to control it or make it illegal to use it. as for you new information if some people are already working on some crypto bank projects then I guess there is still a lot of experimentation needed. let's see how it goes with these crypto banks.

Some people can't manage their own money and do need a third party to secure it for them. Full reserve banking certainly has a place with crypto, but remember if you want them to keep 100% of your money, you have to be ready to pay a fee for the service. Alternative they could offer you accounts for lending, in which case you agree for them to use your money to lend it to others, during this time your money will be unavailable. This is more or less how full reserve banking works, and people need to adjust to that. But sure they do have a chance, especially if they also add other services such as exchange and/or payment processor for legacy fiat only businesses...

The State messing usually ends in detriment to the people. The less State, the better. They want "control" and we want "freedom".

They are really fully contrary to each other that's why I don't really see a point why it should needed to be tied up.Centralized vs Decentralized,these things
wont collaborate no matter what and the heck,why would need banks if we would able to makeourselves to be one? That's the thing or the opportunity that it
gives by Crypto itself where you do have the full control of your funds without the need of banks.

Cryptocurrency and banks in the future in any case will have to coexist together and it should be on mutually beneficial terms. Banks will be forced to provide certain services in cryptocurrency. So why don't they create crypto banks for this. This does not always mean centralization. Certain regulation of cryptocurrency will vseravno will be from the states. Therefore, I do not see anything wrong with that. People will always be able to refuse the services of such banks, after which their activity in cryptocurrency will be curtailed. In this case, they will either have to cease to exist, or repurpose themselves into ordinary banks.

I don't like the idea of having a crypto bank.

I mean if you own a cryptocurrency, you are the bank of your own money. You don't need a company, a third party to take care of your bank for you. If you can invest in good cryptocurrencies, you should be able to take care of it as an investor. There are also a lot of things you can do to take care of your investments or your cryptocurrencies, you can just do it on your own.

That's true, if there is a bitcoin bank, it will defeat the purpose of crypto which is doing banking even without bank.

Cryptocurrency wasn’t meant to have banks, they are meant to give you complete control over your money and freedom from any organization like bank or whatsoever. So, anyone talking about banks in cryptocurrency is really joking and is likely to be a scam. Why would you even need a bank for your crypto when there are already lots of wallets that are offering the same things that you will find in banks.

But, don’t forget that extra stuffs like that means that you will have extra fees etc for you to pay. If there’s truly any bank for cryptocurrency, get ready for charges like card maintenance, monthly charges and all that and you wouldn’t like it, trust me.

Crypto banks are organizations for lazy people who are too lazy to install wallets on their devices.
But here the crypto exchange can solve this problem completely.

I agree with the comments you make because Crypto is becoming more popular and it surpasses FIAT when we learn and compare them. Many countries appear to have traditional inflation and currency that are no longer valid, and the governments of these countries have used Crypto as an alternative currency. I believe these countries will soon release their tokens for use in the nation to replace traditional currencies.

Exactly, maintenance will be shouldered by participants who will cater this system, there's no need of any banks as bitcoin / crypto was created to be your own banks with full controls of your wallet, no need for this if adoption happens worldwide it will be between the two trading parties and nothing in the middle to charge some fees aside from the transaction fee itself.

There are some of the sites which are already doing some of the banking features like lending, paying interest on the amounts deposited. So, are they going to work like a full fledged banks ? Currently not but future nobody knows.

Can Blockchain system make banks better? Peers always uphold the transparency of customers, but Blockchain always anonymizes users. Will banks accept this and synchronize the system with Blockchain? Blockchain can help banks become more transparent in trading, but it is anonymous.

There are already some great projects which raised funds in their ICO claiming to make a crypto pank but none of them has so far delivered a suitable product. Moreover banks is something like an intermediary which violates the law of P2P settlement itself. Moreover states would never allow bank which is not in their control. So crypto banking is like a dream

I don’t really see why I should be making use of a crypto banks, there is nothing safe or good about it.
You’re just trying to make things worse for yourself by making use of cryptocurrency banks or whatsoever they call themselves.

I’m very sure that whatever services they are offering is not going to be free of charge, so they will be charging you, even monthly for keeping your money just like the real banks does. Making use of crypto banks will attract more charges more than what you should have paid for while using just an ordinary wallet. So I don’t like them, I don’t see anything wrong with my wallets either.

If crypto went mainstream, then yes cryptobanks will follow too. I still doubt how will theh be regulated. Cryptocurrencies were meant to replace this type of monetary cycle. It is basically a p2p system. I doubt people will trust a third party in such cases. Government would definitely wont legalise it. I am interested to know how such a system will turn out.

As long as the state has not legalized crypto, it is difficult to see the future of the cryptobank, anyone is certainly afraid to put money in crypto because everything can be a scam.

cryptobank not needed by cryptocurrency market.cryptocurrency was decentralized , and if we make bank for it i doubt it have function.just let crypto work by it own self , and if we regulated it on bank i am afraid it has no value about decentralized again.

Hiring will be one of the mandatory policies implemented if the government adopts Bitcoin acceptance orders. But they need so much. They want to have everything under control and to perform all the implications for it, so governments have not yet finalized drafts of Bitcoin and cryptocurrency.

Actually government won't make any regulation to make things complicated but to make everything safe. The purpose of cryptobanks is to funding a business then cryptobanks will have good future but if it's purposed to only become place to save cryptocurrency and pay the customer percentage of bank interest then I think it has not much different with conventional banks. I think we better invest in ICO rather than do the old way to earn profit. By the way our economic problem/crisis is caused by banks which makes wealthy people becomes  richer and poor people become poorer.

if ever there were such thing as crypto banks i think they are more secure than a regular wallet or exchanges because they might work just like a bank . they can regulate your crypto and they will have personal access to the transaction that anyone had made  . plus they may also have other perks like daily , monthly and yearly interest which means you can earn some profit aside from the existing earnings from the volatility of the market  .

I still want to believe in real decentralization, but apparently banks trying to take things into their own hands again.For me, crypto Bank is identified with an ordinary Bank.Crypto banks have a future,but it is vague.

Really liked this scenario. However, it is more likely we will see more regulations and the system won't allow us to use totally decentralized and anonymous systems because of the taxation concerns of the governments. Even though people start realizing they don't really need conventional banking system, governments will push to keep centralized systems.

I think this is real. Banks are already closely watching the new digital world. Yes, and involved with might and main. So far these are two parallel worlds, but I think that the law on two parallel lines does not work here. These parallel lines are sure to intersect. How it will look like, you can only guess. But it will be a new round in the economic development of cryptocurrencies and the whole world.

Most of the wallets are not user friendly, especially if you need to download the entire blockchain to your computer in order for the wallet to work.

I really believe that in order for adoption to proceed, people's main bank accounts need to have an online wallet attached which they can use easily without having to get their brains around sending fees, inputs, number of bytes in the transaction and so on.

Banks are trying to integrate blockchain technology because its way more advanced and secure than the current digital money (visa, swift etc.). Their plan is to tokenize all forms of value and assets.

At the same time they absolutely hate decentralized and privacy cryptocurrencies because they are against their own existence.

In fact the only reason they haven't pushed to make crypo illegal is because they need the blockchain technology.

I am not sure how these crypto banks will work? What is the purpose of having them when we have the ability to make transactiosn anywhere without any issues by paying the transactions fees.

Many believe that we do not need crypto banks and that banks and cryptocurrency are not compatible with each other. I think that such an opinion is not quite right. Despite external inconsistencies, banks and cryptocurrency will be forced to coexist with each other. After legalization of cryptocurrency by the states, banks will provide services for the exchange of cryptocurrency for common currency, and thus people's confidence in the cryptocurrency will grow. In turn, banks will have a good commission on this.
As for cryptocurrency banks, their fate will depend on the demand for their services. While it is difficult to say what banks expect in this regard. It will also depend on the success of the distribution of cryptocurrencies around the world.

Man, I guess they have the future. We need cryptobanks. Most of them will work best than the exchanges, and they will provide safety and security of the cryptocurrencies placed there.

  No doubt blockchain is the best wallet ever and it is also reality that cryptocurrency has reduced the value of banks, money manufacturing is being done faster with bitcoin and other curator cryptocurrency, because it has benefits for rising in price after holding, cryptocurrency has safe future as more investors are accepting it.

Recently, I often see projects that call themselves crypto banks and, in fact, they are an online crypto wallet with the ability to store different coins. Some projects have implemented the integration of plastic cards and this greatly facilitates the use of cryptocurrencies, even for those who have no idea how cryptocurrencies work and what the blockchain is. I think these services will evolve and will be used everywhere.

Crypto bank is not a bank actually but it is blockchain where we store our money and it is future for sure because this technology is growing very fast, more adoption of crypto currency is taking part in popularity and need of crypto bank after few years we will see how fast this technology will grow, and how it will be use throughout the world.

There are a lot of projects that offers the same, and I have invested one of them that goal is really ambitious.
Cryptobanks project are not independent projects, they partnered with some established banks to bridge the transaction between crypto and bank.
In short, it gives easy way to access the privilege to convert crypto to fiat and vise versa.
This thing needs license or approval from the government it's a long process in the making.

Binance is the first crypto exchange working towards crypto bank and some swiss based financial institutions are also planning to start a crypto bank

by providing security for the custumer, of course this can be a suitable place to store assets. maybe there is only an indication of the same name, because actually every wallet we have is a bank

I think it really depends who use it, Well yeah, I see the future of cryptocurrency but not sure about banks, Looks like if we talk crypto we are more comfortable keeping our digital coins in our own wallets that has private keys.

I guess this is would be great unless the security in cryptobanks are unbreakable, we've seen that a lot of people are hacking some accounts and we cannot protect our identity of it because it's all run in the internet, so if high security doesn't apply to much here then this would be a big problem in the future if they implemented this.

Why we need a bank for crypto currencies? The purpose of inventing Bitcoin with blockchain technology is to eradicate banking systems. P2P was introduced to close off third party transactions and so on. Without a banking system, crypto has covered the money market, investors and etc. What makes you happy when you spend your energy going to a bank to have a single transaction instead of sitting at home and doing your transactions via P2P.

I am not sure whether cryptocurrencies are compatible with the banking system, with its current size and shape. Since cryptos such as Bitcoin are protected against inflation, the banks can't offer interest on their deposits. And it is so easy to store crypto-coins, that you don't need a bank account to trade or store them.

That is what I also see happening anytime in the future. I think we are going to coexist and my reasons are just two and they're that;
1. Central Banks, mother of banks have control to decide what should be money and what shouldn't and hence have threatened cryptocurrency over sometime whereas
2. The millennial also doesn't want to give up their precious discovery and that's Cryptos.

So if both sides aren't ready to give up, they coexist then.

Idea of cryptocurrencies and typical financial banks activites are other but only option is possible crypto-backed loans issued by banks and maybe maybe multi-crypto wallet (but we have already these)

Bitcoin was invented in order to eradicate the middlemen and intermediaries like the banks. The very idea of crypto-banks go against this principle. First we need to ask ourselves whether we need banks to store crypto or not. IMO, there is no need for a bank to store the coins or to transact them. Anyway.. the banks also may not be interested in a decentralized currency, which they can't manipulate.

I can see that Binance is really working hard to seal the future and investing in future projects but this one of crypto bank, I am not sure that they will really make it work because many people would not accept crypto bank since they already have a wallet where they are safe keeping their money, so what will be the use of crypto banks again.

I only see one possibility, now that they are having their own chain too that will give birth to lots of Binance wallets, maybe they will use the bank to safe guard their wallets or I still don’t really know the usefulness of the bank. They should just limit their activities to what they are doing now and stop wasting money of programs.

I disagree with this statement simply because the vast majority of people, even if they were somewhat totally proficient with managing their crypto (which they aren't and probably never will) there would still be a need to hedge the risk of losing all your funds by losing your private key (or simply getting it stolen).

Imo the future will revolve people keeping their life savings in multi sig wallets with something like 3 keys: one of the people, one for the bank and one for a third actor paid by people. To move the funds you would need 2 signatures out of 3, that would vastly mitigate the security risk while preventing the banks to play with your money.

To answer it shortly it's a yes. because, centralized banks and coins like xrp will exist in the future i think that form will balance the society. Some people will chose centralized over decentralized and that's the reality. Regardless what are you using and some people do this crypto is about to change our economy. Proper and right knowledge in crypto banks is a must knowingly crypto coins value is volatile.

I myself believe that in the future there will be bank crypto only with a lot of centralized differences such as XRP and there will be no DEX possible because banks may experience a lot of losses because the loss / threat is greater in dex than in the centralized / cryptobanks in the future
the most important thing is legalization first in several major countries it will be a big issue

It is not impossible in the future the development of cryptocurrency can penetrate into the bank. because the blockchain is very good because of the transparency of transactions that cannot be manipulated by anyone. I strongly support this for the development of cryptobanks

There are still many countries that have not acknowledged crypto, so it might be very difficult for cryptobanking to occur. first similarity is needed so that it can be accepted by banks. obviously it still takes time to materialize, what is important is the recognition of many countries in the existence of crypto first.

Why do we need a bank, a cryptobank if we can be the bank itself? That is the good thing about Bitcoin and crypto currencies, no one manipulates or control it the reason we will be able to hold it for ourselves. Also, putting a lot of crypto currencies in one place makes it more dangerous since hackers can find a way to attack it and that will be the worst.

Whether there will be cryptocurrency banks will depend on what services they will provide and how much these services will be demanded by people. I think that such banks may well exist. If only the activity in the cryptocurrency had profitability for them. If their work is profitable, then, of course, they can work after the states legalize cryptocurrency.

All the crypto banks that I came across at the moment are copies of conventional banks but with the introduction of cryptocurrency, until I saw a single innovative project in this environment.

I think that it will take more than a couple of years, coz some countries still don't accept cryptocurrency.

Personally, I never want to see Banking systems with Cryptocurrency but the concept here is evolution. Some people are looking for the evolution of the banking system where they can use the blockchain technology for their faster transactions and other features but I do not think that banks are going to accept it. Just like the current generation is gonna reject new generation, just like facebook got rejected by other countries, just like google got rejected. no matter what happens these guys are not gonna learn from their mistakes.

We don't need crypto banks at all, it is better to remain of what it shown in the market today. Though evolution will soon to come but I've never think that cryptobanks will be catchy to the people. Fiat banks remains at its position and people would still be using this one. Of course, they will be preferred into banking system in terms of saving their money cause the risk of losing our funds is a little low than of storing it in our online wallets. In fact, they usually convert their crypto's into fiat money especially those areas that crypto currency isn't accepted and so banks have a big role for them.

Crypto's motto has long been: be your own bank. But most people seem to have forgotten them already. Through crypto we could do without banks, but apparently the people do not want that. Many people are already waiting for a bank to take care of their coins. Therefore I believe already that there will be sometime also crypto banks. I don't think that's good, but apparently people don't want change and prefer to use banks for their money and crypto.  :P

that's the motto of decentralization itself, but many of us begin to think that centralization is important. when your coins are stolen by someone of course in decentralization you will be responsible and accept all the risks yourselves, and many people today think about who can take care of their money in crypto, and bank crypto might appear in the future because of this.

Yes, I can understand that people want to protect their money and preferably through a bank, but what makes a bank safer than an exchange? A bank can also get hacked and lose the coins. The coins are then gone, whether from a bank, exchange or from an individual. That is certainly a disadvantage of a decentralized system, but if you want to take advantage of the benefits, you have to live with the risk at the moment. Otherwise you can continue to use fiat money with paypal or other service providers if you prefer a centralized system. That already exists. But anyway, crypto banks will come and we agree on that.  :)

The technology behind Bitcoin is perfect for banks. The traditional  banks can create smart contracts that will make them provide better services for their client for those that will not want to create their own crypto coins.  Cryptobanks are digital version of banks and is be an alternative to traditional banks especially for those that go for credit facilities. I belief cryptobanks will do better as they offer better banking services and features than fiat currency banks. Yes I see cryptobanks as the feature and they will surely aid massive adaptation of cryptocurrencies

It is called innovation. Some banks and financial institution already using XRP in their business.

Innovation is necessary this days as some people are thinking way too fast on how they can make other ideas better.

Banks must adopt cryptocurrency as they know this will be the future, if they insist to adopt they might get left behind by other banking institution and may get bankrupt.

I actually really believed in a crypto bank project, so I was involved in a crypto bank bounty campaign.
but until now the project has not been clear, its development is not too good. so I'm a little doubtful about the future of the crypto bank.

Generally, bitcoin or cryptocurrencies is viewed one of the greatest invention. There is no doubt that the technology behind cryptocurrency  is kind of perfect, it's possible to create cryptobanks in the future. Bitcoin is gaining more popularity in many places of the world, although it's not already recognized widespreadly. At current, it's just the matter of time that crypto is accepted widely in many countries, then cryptobanks will be created gradually in someday. Hopefully we will soon have chance for using transaction though cryptobanks.

I do t like banks and i don't agree with their politics. I believe banks have the same policy no matter the specificity of the market.

It seems to me that tanks more specializes in fiat and not in cryptocurrency.  With the cryptocurrency exchange work better.  Because I think that in time we will move away from them.

The future of crypto banks will depend on the quality and relevance of the services they provide. It is personally interesting to me on what conditions crypto banks will take cryptocurrency for deposit storage, how banks themselves will use it, on what conditions loans will be issued, and so on. Let them start to work, and then we will see whether we need it or not. No one will be forced to use crypto banks. Everyone will have their choice and no one has the right to impose their point of view on others.

I think cryptocurrency should be adopted first before we can see cryptobanks appearing in the future. With this,banks will still be present again but only in crypto form. This might confused the people because we already have our own wallets where we can make transactions of our cryptos but maybe for those who still want to save their cryptos in a bank, then cryptobanks will become useful though.

The idea of crypto banks is awesome as we can Place valuables like real estate titles, wills, on smart contracts in the blockchain  where no one but you with a key can access since blockchain is an immutable financial ledger

many countries are developing cryptocurrencies themselves to become part of the global crypto community. and want to develop cryptocurrencies that are integrated with national banks and many countries want to adopt cryptobank idea. it looks like a unique collaboration between cryptocurrencies and fiat. if it is true, I think the public's cryptocurrency interest will increase. with official regulations from the government, it will facilitate the general public for personal or corporate financial transactions. so cryptocurrencies use will be easy and open to anyone.

Cryptocurrency created because to eliminate banking system. We dont have to open bank account when we already own bitcoin because its peer to peer currency. I am prefer believe that what crypto market needed is good exchanger with many features like able using credit card or debit card.

Crypto banks? a place where you can save your money or take a loan from them? Well, we don't need this kind of project in crypto. We (with our private keys) are our own bank! Bitcoin community has been using Bitcoin as a war against centralized bank system, and decentralized bank system is likely to be the same because they will be just fooling poor people every time.

if many countries support it, of course the existing regulations will not complicate, and again cryptocurrency is a financial freedom and when many countries want to make this freedom bigger then the cryptobanks will become a major financial system later in the world

I think there are still very few countries that provide support for cryptocurrency, there are still many countries that don't want to use cryptocurrency and don't even support cryptocurrency, but I'm sure cryptocurrency will still struggle to be the best digital currency and can compete with currencies paper.

I believe that crypto banks is a good idea. Fast. Global. Low fees.
But right now, it lacks security. People need to know more how to save their assets from hackers, scammers and others

If ever crypto will be our future currency,i don't think we will still need crypto banks knowing the fact that our own private wallet can be already considered as a bank.And because of that,we should be responsible enough to keep safe our wallet all the time away from hackers and scammers.

Aren't crypto banks the exact opposite of what everyone in the crypto community is trying to achieve with Bitcoin ?

Banks are unlikely to ever disappear. Banks are an attribute of the state. Any state needs banks to exist, and this is enough for banks to exist in any society.
Cryptocurrency will develop in parallel with banks and will not occupy a dominant position in the financial sector.
As for the crypto banks, they have already begun to appear, however, I am not sure that they will develop. Their existence will depend on the demand for their services. Therefore, we need to wait and see what demand will be for the services of these banks. It seems to me that it is unlikely that such banks will deal only with cryptocurrency, and therefore they will deviate from the name of crypto banks.

Banks were the one that develop the financial infrastructure of a country. When we take bitcoin into consideration it has done good as well bad to the user community. When we discuss about the good, people could've never been this good in financial management if there is no banks. When it comes to the negative part, it always tries hard to keep the users under their control. Cryptocurrencies have given the freedom from banking, yet without banking these days it is truly hard to survive. Maybe to get the combined goodness of cryptocurrencies and banks in future there is more chances for cryptobanks.

Of course, the opinions of cryptocurrency users regarding crypto banks are very different.  Indeed, the banking system will continue to exist, although it will work with fiat currencies or with cryptocurrency.  All the talk about the fall of the banking system thanks to Bitcoin is just empty words and generally does not make sense.

Cryptobanks are the future only if we will see right regulation

I beleive that crypto banks are the future. Crypto related financial services will be more and more popular and crypto banks could offer them. Still without proper regulation I don't think this will be possible
Although some fear that crypto banks are opposite to essencial idea of Bitcoin and that they might violate Bitcoin decentralization and independency I don't agree with such attitude.

I personally don't think they are the future , no offense to anyone else thinking otherwise but I think it is not in the real lines that Bitcoins was made into , banks will rise then so will the power of certain people then it will slowly start getting centralized and sooner or later it is going to be just another version of Fiat .
I like what we have right now, we own our own money , we don't have any banks , we are actually not paying any middle man also the banks are going to be a lot complicated because of the high volatility.

already there have some banks projects and many of them already successful and running their work through blockchain technology. Now a days, almost all things are involved with blockchain technology and it will lead the future world.

If the traditional banks want to involve then the revolution will come true soon. Otherwise,it may take time to establish

Crypto banks are supposed to do the same stuff as traditional banks, but they deal not with fiat but with the cryptocurrency. Actually, there is no need for them for most people. nevertheless, it does not mean that they can be useless. They will exist, but I doubt that they will reach their greatest popularity. People need to use Bitcoin and cryptocurrencies for 100%, not for 90% like in the case with banks.

Cryptocurrency is emerging out successfully with its unique features and benefits. The revolutionary way to make financial transactions with crypto is an incredible one hence cryptocurrency banks will take over in the near future. This will also trigger the traditional banks to integrate cryptocurrency into their services in order to meet the expectations of their customers.

Electronic money is not the financial system of the future, new blockchain technology is it.
Electronic money is just a trading tool, but the system to handle blocks for trading is Blockchain, please distinguish it.
and in the future, Blockchain will definitely apply in many banks.

Yes, I think bitcoin has a future, just because is viral in all over the world. And the another reason is due to famous and fame.. That, z why...

The prospects for the development of crypto bank are far from understood by everyone.
Thanks to the decentralized nature, crypto-banks provide unique solutions for users, which makes them stand out among their centralized competitors. The security and transparency benefits of blockchain technology are attracting a lot of attention. It is highly likely that crypto banks will be able to save their customers from having to verify their identity when contacting one of their branches. Therefore, many banks are interested in using this technology and making payments in digital currency. Crypto banks will create a system of secure transactions in real time. Innovative technologies and cryptocurrency are the money of the future.
As for the state regulation of a decentralized financial institution, it seems to me that this is inevitable. Not a single economically developed state will miss its control and management of cash in any form.

Every banking system is depends on physical assets thus bitcoins is based on software system not physical assets.

Idea and concept are good but it could be good and promising only on paper, but like mentioned bitcoin is not physical. This is problem and this cannot be done for the moment. Maybe in one country as pilot program and to see how will it be. Maybe some bank will try to test it but think that eventually they will steal all those coins in the end.

I think that with the advent of regulation, the “crypto relay race” may well be intercepted by banks, in view of the fact that they can become exactly those services
that will be fully subordinate to regulators and thereby be the first to provide the opportunity for users to interact with cryptocurrency within the framework of the regulation that will be.

Its good to have a crypto banks so that we can keep our ssving there and easy to transact also because we can do it by using high technology government. We can do it easily in a quick transactions.That we can have the quick proccess  to all over the world.

Cryptobanks are good because it help to the cryptocurrencg to get a lot of user or investors.

But even the cryptocbanks will not exist still okay because crypto already popular but I don't know how to operate just like a normal bamks who use fiat or the real money.  Cryptobanks need a lot of plan on how it works to not failed their operations.

Yes, I totally agree with cryptocurrencies being the future of the financial system. As you can see, at CMC, they are full of Japanese stablecoins and euros and dollars.
And the payment has become more convenient than ever, it only takes a few seconds and does not have too many operations.
Convenient, fast things are often the future of a modern world, I always believe in that.

If you mean is to help the crypro market economic development then yes! Cryptobanks is a future too. If the fiat banks are proven safe and secured they why not having a Crypto bank that will make a crypto assets to become safe and secured too without mentioning the monthly crypto interest that crypto banks can give.

Indeed, cryptocurrency banks have been present: MUGF, Credit Suisse, Barclays, ... they have existed, built and developed this system and the positive point in this system is the loss of High reliability in transactions, transparency and no commission. You really own and control your wallet no longer depends on the central bank. The reason I think this system has not been accepted is because it is not yet the reality of everyone, this is almost like the internet or social networks and especially cryptocurrencies no one thinks these things can happen, but it still happens because it's the future. Our future.

The problem with this thinking is that crypto was made to remove banks. To allow us to be our own banks.
What is the purpose of banks? They hold your money for you so that you can feel safer in case your home burns or someone breaks in. You don't need such help with cryptocurrencies. They pay you interest. You don't need that with crypto which is deflationary and rises in value anyway and if that's not enough you can buy some POS coins and stake them.
Banks are a thing of the past and I don't see any advantages in having a crypto bank.

When we discuss Cryptocurrency and the banking system, let's review what the internet is doing with the mass media industry. The internet has made many newspapers and television industries lose prestige and even out of business. Technological progress is like a snowball rolling, getting bigger and can't be stopped unless we destroy the snowball.

Not all bank roles can be replaced by Blockchain. We take the example of the use of L/C in traditional cross-country trade. L/C is the safest payment model for sellers and buyers. The bank still needs a role to receive and verify the transaction. So Cryptobank will be needed to verify transactions for types of transactions that are not provided in the market place.

true, XRP centralized coins are indeed created for the future of the BANK.

from what I heard,
the original purpose of the cryptocurrency was to make all people their own BANK,
but this goal is very difficult to realize because the governments in each country will not let their citizens become their own BANK,
so CryptoBank is a way out so that the government can still control the people in their country,
for security issues, such as cybersecurity has continued to increase every day, nothing to worry about.

Cryptocurrency maybe accepted in all nation soon but it doesn't mean that it will be regulated in some banks specifically if government bank. There might be one bank that will push a blockchain system focusing as a bank but governments may not use it fully for the government projects. But it will be nice if government will use blockchain in their governance for transparency of the finances allocated.

The answer to this would require a universally accepted definition of "cryptocurrency". Some would argue that a bank can't use a crypto currency because of the transparency and immutability of a blockchain. If you are referring to digital currencies and private chains, then yes, this is the inevitable future of the banking system.

There is no need for cryptocurrency banks because the only feature that the people are concerned with the banks are the security of their money or cryptocurrency but with the hardware wallets and other type of secured wallet for cryptocurrency then it would be nonsense for people to use cryptocurrency banks since there is already a product that has its features with a one time payment type of investment.

of course, by using the blockchain for government purposes, transparency will be maintained, so that people can participate in overseeing financial distribution, with a system like that I think will make government more advanced. besides that if the government gives freedom, I think it is the private banks that will appear first to develop this sector

Why not have cryptobank at the future, with good system audit, unique way for saving and without have big problem just waiting when cryptobank are become legal, many benefit take by investor with cryptobank because they do not save money but in side way they are increase money by saving with cryptobank.

Whats the purpose of having a "cryptobank"?

As far as i know the purpose of crypto is to get away from banks and centralized control. The power of crypto lies in the fact that we can use financial products without the need for all the bureaucracy of banks and all the interest rates that they impose.

It's totally a different aspect, I am asking you why this CrypoBank is required? Do you feel the regulation on this system? Do you need a conventional maintaining system for this cryptocurrency platform? This current system is enough to carry out, you must consider that cryptocurrency will not bring any stability so if Bank will face a lot of crisis. Whatever it is, the Crypto banking system is not a good idea for me. Since the main criteria of the cryptocurrency platform are not centralization then the banking system will try to centralize it by the government rules and regulations and then people will lose their interest in this platform, there will be another mess like the conventional banking system and stocks. So Say No to Bank.

I know it does not really make a lot of sense but we already have exchanges that are similar since they are a centralized service where many people store their coins, to me cryptocurrency banks will become a reality because most people do not really know how to secure their coins and the responsibility of being their own banks is going to be too much for them and will try to find a way to get rid of that responsibility and banks will be there to fill that void.

It turns out that vision is impossible now, the power of the centralized government is bigger compared to us who long for a total decentralization.
When there's a rumor saying that bitcoin will be ban like china ban, or india ban which has the biggest population in the world, people panic and that could create some big dump of price in the market.

That simply says that people are afraid with the negative action of the government, therefore, instead of fighting that decentralization, it could be better for all if the crypto will be regulated by the government and we will just comply with the rules, besides system is still decentralized.

The responsibility of being their own banks will be too much - this can easily be addressed through the creation of simple and intuitive user interfaces. People can be taught and research has shown that there are ways to make people want something.

Psychology can always be tapped to help people want to learn about crypto. Being ruled by central banks is not necessary.

Crypto banks are simply a mediator, therefore there is no special need for them. For calculations in cryptocurrency, wallet and its function is completely enough, and money can be exchanged on the exchange. Besides, the operations can be carried out by using smart contracts: for example, delayed payment, warranties are possible there. Crypto banks are something "extra" for now.

In my own personal opinion, cryptobanks are not really necessary because we can save our own cryptocurrencies in our wallets which it will be more safer, but i think sooner or later there will be really cryptobanking projects because there are some people who really wanted to store their crypto in banks.

I understand your point, but banking is still a paradigm that is very much still alive and well.  Bitcoin celebrated its tenth birthday and has yet to overthrow the banking industry.

Banks and bitcoin just don't go together, do they?  The biggest advantage cryptocurrencies have over the banking system is that there is no 3rd party needed for P2P transactions.  So I dont believe there needs to be 'crypto banks'.  Not at all.  When one uses bitcoin, he owns his own money and does not have a bank or the gov't watching over it.

There may be a need for traditional banking services, eg, loans and interest payment for deposits, but I would not trust an entity purporting to be a crypto bank.  Wasnt there a savings and loan scam some years back involving crypto with a guy named trendon shavers?  That was in the early days of bitcoin but it turned out to be a total scam.  I wouldnt trust anything like that.

When looking on bitcoin price still lower maybe less chance to get cryptobank at the future, how ever no one want to invest in bitcoin if bitcoin price never raise to higher, but when bitcoin price growing up many investor around the world want to adopt bitcoin as investment assets and want to earn much money in bitcoin investing.

To be frank i did not understand what you mean by these. What benefits are you talking about for the investor if there is a crypto bank and what do you mean by that they do not save money in side way  ::).

You really do not need any crypto based banks, we have online wallets and that is the closest you can consider to be banks in the market, not sure why anyone needs a banking system and if you are looking for interest then you are mixing the conventional to the unconventional.

I don't think it would be much of a burden when cryptobanks are established. Instead of fully controlling the market, I think it would be more beneficial if instead of cryptobanks, regulatory boards were made instead, who would foresee new altcoins and ICOs, etc and impose policies and possible sanctions if promises were not met. Cryptobanks would do KYC and provide insurance, but when a regulatory board was made, anonimity is preserved while maintaining policies.

It will not be that easy, how many people around the world lose their information to hackers every day? And while losing money out of your bank account is painful you could always recover your money with the help of the banks but when it comes to cryptocurrencies once your coins leave your wallet there is nothing you can do to recover them, so if cryptocurrencies become mainstream you can be sure that many coins will be lost and banks will see the opportunity and will take it.

When it comes to money or financial assets, everyone needs a surity and safety. If traditional banks start providing services for cryptocurrencies too. People are most likely gonna jump in for it. For extra interest over their cryptos and safety to your funds that banks can provide is definitely better than a single coin holder.

I am not saying that we need banks for cryptocurrencies but if that happened, people are likely to jump on it.

Cryptobank can be consider a centralized institution, I don't think we need that. The purpose of having a crypto is to have full control over our financial assets, it is empowering us to become independent from banks. I'm not against it but the purpose should be clear, I dont understand wheter it will mimic bank, guarantee interests and insurances.

Making crypto banks for the future will help the cryptocurrency world to have a lot of investors. Investors can invest in cryptocurrency anytime they want to invest and they can invesy in crypto without any problem or hassles because it is a crypto bank already, but one of the very big deal of having this is the Security of the crypto banks, because as we all know crypto is a decentralized and they need to have a proper organized plan for them not to failed to have a cryptobanks.

I don't think we need a cryptobank. We use banks as a convenient way to further abstract our money. If you buy a car, you don't turn up at the dealer with wheelbarrows full of coins - you can pay by card via your bank. Crypto is already abstracted in that way, so I don't see what a cryptobank would offer. Interest on savings? But exchanges already cover that through the fuctionality to effectively loan out your coins for a reward. I think a lot of the promise of crypto is how we can move away from dependency on banks. A cryptobank seems like a bit of a backwards step, as well as just not being required.

I do not understand by what principles the work of such a bank will take place. If he will store bitcoins of users, and use these funds in his activities as banks do, what is the point?
After all, we ourselves can store our bitcoins, increasing their number in various ways.
In addition, what will the bank do if the price of bitcoin rises in price more than the bank expects, and yet it will have to pay the interest rate on deposits with BTC.

Transactions can be seen, decentral where there is no centralized authority, freedom of transactions without the presence of a third party, that is how the concept of cryptocurrency. In terms of the benefits provided to users it's very good, but if this is adopted by the government and becomes a crypto bank, I'm sure some of these benefits will be regulated.

Cryptobanks will play a major role in both the crypto space and financial lives of people. The revolution has already began with most of the projects integrating banking systems and services into their operations. Projects like HubrisOne is one of the them. The big and tier one exchanges like Binance, Bitrue, Kucoin etc have also integrated the banking loan services which makes them go extra mile.

Yes, I agree with what you said; we know that bitcoin is centralized, no authority can't control it, and many more capabilities of bitcoin. But if the government take under control/ adopt the cryptocurrencies and create a crypto bank, this will be shown that cryptos will have now a decentralization and can control by a single authority. This is good to the other ppl that use bitcoin as a payment system and vice versa, especially to other ppl that want anonymity. :)

Regulation is very important for a progressing world. We need to have some rules and limitations for every important aspect and sector of our community. If there will be no regulation, then the chaos will be in our world in no time. Cryptobanks are possible but it is not that ideal since we don't really need a bank for our cryptocurrencies since there is already a lot of alternative just like hardware wallet.

If bitcoin have regulation by government  I think crypto bank at the future will come true, when bitcoin still illegal and not allowed by government crypto bank at the future is bullshit, just dreaming looking with bank have build by crypto at the future, we need government want to allow bitcoin and crypto first before we can build many big think with cryptocurrency.

Indeed, the future is digital and cashless society, so cryptobanks are our future banks, it needs time and more years to have a great cryptobank. There are projects our there wherein they vision to be the first cryptobank, it is not easy as we have different kinds of regulations in every country so they cannot enter cryptobank that easily.

Crypto banks will be new trends and we shall soon be expecting them. I am not saying that these banks shall be without any regulation but surely they are going to provide more freedom to people. There are wallets but they have some shortcomings. Once you lose key, your crypto currencies are gone forever. Banks are going to provide us back ups and more security.

Security is indeed very necessary when the digital era is growing and in the future, even though there are government regulations at least it is a support, although the regulations are always complicated but basically good regulations and many of support that exists is an effort for a better future with the digital era and fully must have a security standard that can be entered or recognized in every country and even the world so that it can be used more safely.

In my opinion, I agree with you on this issue, I believe that cryptocurrency will be mainstream of the economy and everything will be based on a smart contract in the future but the crypto bank is not essential in this platform I think, If this cryptocurrency has a strong regulation process then it might be a very user friendly and credible platform, I think people's credibility is the best thing for sustaining anything for a long time. the crypto banking system is not a bad idea, but it should not be like a conventional banking system, it must be fully online based and smart contract-based, however many people in this cryptocurrency don't like this traditional banking system so it may bring a mixed scenario in this context.

Maybe soon and I do believe that they are now planning on it and also it is a good help to bitcoin enthusiasts especially to those who are afraid of showing themselves because they think that the government will arrest them due to its illegal. I do believe due to high technology cryptobank will be made in the near future so it that will happen it means that bitcoin is now legal so many people will be able to invest on it freely and without hiding. However, due to crypto is decentralized governments always afraid of this they want fully centralized so that they can manipuylated people who use this cryptocurrency, they afraid soon maybe crypto is one of their competitors when it comes financial investment.

who have implemented cryptobank seems to be Waves, because waves have a Leasing feature,
by save several waves you will get waves too, this is very interesting,
maybe some projects like ethereum will also use these features because they will change to POS

If Crypto Banks are suitable to our needs as crypto holder and a user maybe it is our future..  and also it would help us securing our holdings and help us to control our funds and mostly we can double it by using their services. but, we can not assure this for long term if the banks are regulated. Crypto Banks should bring interest, so that we can use and believe it to become our future.

Bitcoin still in the picture in the future is what's guaranteed, but crypto banks? i don't think so. It is given that bitcoin and blockchain is aiming for a massive adoption but that doesn't mean we still need crypto banks, one thing that made bitcoin patronize by many is it's decentralization and users being able to have a control over their cryptos and if they've manage to be their own banks for 10 years as bitcoin  already had 10 years. of existing, managing it for more longer years would be easy. erasing the idea of crypto banks.

Do you know any cryptobank ? Cause I don't. Banks won't transform into a cryptocurrency bank over night and I don't even think they intend to. Banks have their own system who works just fine and they don't need anything beside the Blockchain tech in order to extra secure their system. Lately I see so many bad threads ...

Governments will bow down to people if majority is using bitcoin. Government cannot keep people away from bitcoin if common people really become aware of the powers of bitcoin such as dual nature of it. People know that they can protest for their rights and they can do this for legalization of bitcoin or crypto currencies. Government can keep eye on people.

I think the angle banks will use to try to make those that hold some crypto to use them is that securing your coins can be a real challenge.

We know that as the market has been getting more popular hackers have begun to target cryptocurrency owners, and while we are qualified to secure our coins properly I can assure that most of those that will get in the market during the next years wont be ready for that task and they will be glad to let banks store their coins.

Cryptocurrencies banks will undoubtedly appear. There are always people who want to buy a thing at once, and not wait until the time of accumulation of funds for its purchase. These people will use the services of cryptocurrency banks. In my opinion, where there is demand, there will always be supply.

whatever will happen for the development of cryptocurrency all depends on the government if indeed the government has legalized cryptocurrency, of course the development of cryptocurrency will be more rapid and of course will automatically form banks that use cryptocurrencies and it is needed by the times and technology and especially in the economy and the digital age will soon be realized

The chance will be there as more people are getting aware about this system and having a crypto bank now is no longer a question but a reality
that can happen in the long run, We do need to wait for some developments and more demands from people who understand the system clearly and
willing to take this thing to materialize.

I agree, taking into account the benefits derived from the development of blockchain technology and the freedom of transaction technology. The problem in the current cryptocurrency concept is security and fluctuations that are very fast. The government should at least try blockchain technology as a banking system, leaving aside the matter of regulation and prioritizing the benefits of this technology.

Which bank have adoption blockchain now? I have looking with many country still not bank support with blockhain and have allowed for saving money with bitcoin or altcoin, bank look dislike with bitcoin and altcoin transaction because they will lost if have bitcoin as competitor, bank member look happy if save money with bitcoin investment than have save in the bank without increase little.

true that you submit a crypto currency bank can be formed if the legality of the government and of course the crypto currency becomes a valid currency for transactions in the economy and possibly going forward with the times and technology all that can be realized crypto currencies and crypto currency banks will become legal

Cryptobank for the future only with country have support using bitcoin as legal payment transaction, if many country still illegal using bitcoin there are never have cryptobank at the future, very good ideas if support cryptobank at the future with many people safety for saving bitcoin or altcoin assets on cryptobank, they not worry about their wallet again because have back up with save in cryptobank.

Updating the existing system according to the difficult especially if the bank is a counterpart to cryptocurrency. today the bank itself also opposes the existence of cryptocurrency to further develop for various reasons. and in my opinion later on this development depends on everyone whether they are helped by crypto or not

This is nothing going to be difficult for banks to cooperate with crypto currencies because if they think in a smart way, crypto currencies are capable of producing countless customers of banks and definitely banks can earn from transactions. This may seem impossible right now but in the coming years, this is going to happen.

Government control or regulation will do nothing for the development of this market, one of the goals of some cryptocurrencies is to stay away from government regulation.

Besides even if governments tried to regulate this market they will fail since they have no way to control what it is introduced in the code and even if they tried to regulate that as well they have no way to make us accept that modified code, then it is a good idea to forget about the government as an agent which will help the development of this market.

With integrations with current banking system there's possibilities that things are on its way be absorb by the financial institutions. The popularities
of cryptocurrencies in terms of helping the banking system to have much lesser transaction's  delays. It will be observe and use by the banks if there's no conflict and there's no problem with the current business structure adoptions will take place.

I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

That's right, but we still need to have paper money. Both of the currencies, whether crypto or fiat, are important in our economy. Cryptocurrency is needed for a fast and large volume of transactions. However, fiat is needed for micro transaction and for cash on hand. We cannot fully depend on crypto because it's still had a downside. For example, not every individual has a device or internet, and it's not convenient for paying crypto when buying goods, for example, a single candy. We need both of the currency, both of them will benefit one's country economy.

Yes for now we can't see ourselves not having paper money yet, we still need it and it will not vanish that easily, but we are talking about the future, yes, from time to time the technology is really innovating so in the future it will be possible that paper money will vanish and we will only have digital currency as our way of medium of exchange.

There is always someone who periodically proposes some "bitcoin bank" without realizing that it is a contradiction in terms: at a certain point, one's Bitcoin account is in fact a bank, so it is not clear why the banks should to intervene.

Basically if the world will become digital and physical money isn't that much used by the people, banks and its employees will no longer play their role, in common sense, there's no physical and fiat money to be managed. In relation to that, they will enter the world of cryptocurrency. The only possible work that they might provide is a new and improved version of escrow service. Since storage and security of crypto is already established through safe wallet addresses.

No doubt that cryptobanks are future and we will have digital currency that is lurking around the world, but it takes a lot of years before that to happened, as what we need for now is for the government to embrace and to accept crypto first for us to have a mass adoption, then the rest to follow.

First of all, I do not think that bitcoin or any crypto currency was created to wipe out paper money or fiat from the face of earth. Bitcoin just wants to help people in making good amounts of profit in short time and provide them with easy and secure transactions. It is not its fault that paper money lacks such qualities. Sooner or later, digital currencies will sere the purpose that paper money is serving at the moment.

We cannot conclude yet if having cryptocurrency as the financial market's future would be a good thing but considering the benefits the countries that legalized it gained could be a hint that it could be the saviour of the economic crisis we have today. There are rumors about having crypto banks but I think it would work better if fiat and crypto would just be existing at the same time and work together in harmony, we don't really need to make fiat disappear, we just need it to cooperate with crypto.

Banks won't reduce their part of the financial market, even if banks will take blockchain as a general part of their technology it is likely that we will also be paying commissions to a bank as before. Banks won't become decentralized, it always was centralized and in the future will be centralized. But, maybe we will see something like an open-source project where won't be centralized control and additional commissions. I hope.

hopefully that will soon come true and the article you read is indeed reliable news. because in my opinion, if bankcrypto already exists, maybe the government has legalized cryptocurrency. and make crypto more known to people. but if all that is just a plan from a bank, maybe the government will allow it, and maybe the government will propose certain rules that benefit it. I myself am of the opinion that with cryptobank, in my opinion there is no benefit for someone who understands crypyo, because everyone already has their own wallet which I think is safe. and we can carry out transactions anywhere safely.

Looking cryptobank at the future we need regulation from government to allow bitcoin and altcoin become legal, without legal using bitcoin or altcoin as transaction payment impossible we can see cryptbank at the future, depend with how bitcoin price at the future, keep higher or not to get access with crypto bank for the future. You can get cryptobank at the future by make community for bitcoin and altcoin.

It is a postive news that some countries are preparing for the future in which they are proposing some cryptobanks project to enhance the banking system of every banks in the world. I probably agree with the conclusions that the cryptocurrency is the future of the financial system in which the exchange of funds by the lenders, investors and  borrowers to change into digital currency which is what we called crypto by using online currency to operate the financial system in the near future.

China will make cryptobank at the future because they have agree for adopting bitcoin as legal transaction, after president of China want to adpt blockhain technology for their transaction I think just waiting few month later China will have bank support with bitcoin and altcoin, I hope many country will allow how china regulation to adopt and legal bitcoin as transaction payment.

then we must educate them about these two different things that contradict each other.

centralized vs decentralized , will both ever united as one? of course not. the idea about cryptobanks is a little bit strange as it is about to mixing two clear different economy concept.
the one wanted to control over your financial and the other wanted to make things fair mathematically through blockchain technology and its products called cryptocurrency.
crypto let you manage your financial as you wish , banks won't let you do that.

it could be different story if banks adopted blockchain technology to proccess transaction there more efficiently for example.

But it would be much better for China to create simple banks that deal in all sorts of crypto currencies rather than developing their own coin. Bitcoin is already at high price and is the most profitable coin. China shall make her people use bitcoin and put taxes on profits instead of regulating their on coin. They can have exchanges which will keep all transactions history. People need decentralized crypto.

So far, history has shown that the opinions of the government and the people are radically different.  Based on this, ordinary users of cryptocurrencies do not want any banks and control over their funds, but at the same time, the government is happy to legalize cryptocurrencies if it passes through certain financial structures and, first of all, these structures can be Crypto banks.

People like us are never going to need something like a bitcoin bank but I'm not so sure about the rest of the population, I say this because we can secure our coins without too much of a problem.

But very few have the necessary knowledge to do it well, and they will probably ask themselves about the best way to protect their coins and in that case a bitcoin bank makes sense, I do not really like the idea and we should teach them how to protect their coins but I have a feeling that they will be lazy and they will take the easy way out.

In crypto, the security of our assets will be on our hands, disregarding banks as they are much more suitable to handle fiats. In terms of crypto, a digital assets, what we need is being responsible to manage our transactions and to keep our wallet information safe. Trusting it to banks will just make us return to the traditional banking system even if the assets that we are utilizing is crypto. But if we will go ahead and make ourselves our own bank to secure our fund, this will be the essence of a cryptobank.

It is difficult to draw conclusions.I think that the traditional financial system will exist together with cryptocurrency.As You can see that many countries still have a negative attitude to cryptocurrencies.The market needs more time to mature.

There is no point in having a bank for bitcoin, it is created for everyone to have complete control over your assets rather than trusting a third person and if people cannot understand the basic function of bitcoin then i doubt they will even try to understand what bitcoin is all about and how it can be used successfully.

 

yes I agree if you say that cryptocurrency is the future for a free financial system. and in my opinion it will be a new innovation in cryptocurrency that will become the center of attention of people so that more people will understand about cryptocurrency. maybe state regulations will not complicate all of that, if indeed all of them can benefit them. but I am sure, most crypto users will agree that in the future, banks will make banking systems more sophisticated, by making cryptobanking.

Maybe I don’t understand something, but I think for several years now, from the very beginning of my activity in the cryptocurrency market, I have come across information that cryptocurrency can replace the banking system without any problems.  However, many users have always spoken negatively about banks and their activities.  But today, very often there are statements regarding how to create Crypto banks, while I can not understand why.  We are trying to get rid of the existing banking system, but why are we hoping to see another cryptocurrency based banking system using blockchain.  It seems that the wolf does not feed as much as he wants, but he will still look into the forest.

But there are also countries that are adopting it for boosting their economy. This is normal to have people going against the idea of crypto currencies because governments’ are hesitating in declaring this market complete legal. I believe government shall find out a way of combining traditional currencies or investment market with crypto in order to take advantage from the unique features of crypto market.

Crypto market doesn't need the bank in order to take an advantage since it can standalone by itself with just a help of local exchange which should be regulated by the government. On the other hand, bank may need crypto in order to rebuild their system, develop it, and then make it more convenient and reliable at the same time in a way that its integrity remains intact.

I think not ready if cryptobank at the future because many bad side of crypto as currency, many hack of bitcoin assets and exchange wallet give negative side for bitcoin and altcoin become cryptobank at the future, bank have many member not ready if using crypto because they still beginner with using bitcoin as legal currency transaction, many older people can understand how to working with crypto site.

You are ignoring my point, people like us do not need a bitcoin bank that much is clear, we know how to secure our coins but in the case cryptocurrencies are adopted by an important number of the general population they will not know how to secure their coins properly.

Some will learn how to do it but many will be victims of hackers and then they will try to find a solution to all of this, I know that bitcoin allow us to be our own banks but that also means we are completely responsible for our money and I can assure you most people are not ready for that responsibility.

I agree with that. The cryptocurrency itself can standalone and do its thing without the help of having a bank and the banks are the ones who need the technology behind cryptocurrency in order to improve and give more quality to its customers. We already have our bank which is our cryptocurrency wallet so it will be useless if we will have bank for crypto.

I think governments who are interested in using Blockchain technology will also be interested in using Cryptocurrency, if they don't use existing Crypto then they will Make their own Crypto. There is no doubt that the future of Crypto is still long, and we will continue to see countries adopting Cryptocurrency in their countries.

  Crypto currencies have clear cut advantage over traditional markets or banks. As we know that bitcoin and crypto currencies are not depending on government or any other contemporary market for their survival but vice versa could happen. There are maximum chances of banks especially the international ones of adopting blockchain technology in order to stay updated and stay as means of customers’ interest.

Even now so many banks are accepting the system of crypto and they are producing more safety affiliations with the help of putting crypto in their system. We know the best thing about crypto is Blockchain and now banks are also involving Blockchain in their system. Blockchain is now the name of safety it made people invest more in crypto so many you are right about getting crypto banks in the future.

I don't get it. Isn't Bitcoin created to eliminate the presence of banks and make it peer to peer. That's why I think that it is quiet contradictory to bank in crypto. I don't think that that would happen because we can be a bank of our own money ourselves isn't it. You can make it very secure by purchasing cold wallet and store your private keys away from any digital devices. Also if we talk about the government then honestly I think that it can't be avoided if you envision it be adapted throughout the world.

I doubt that cryptocurrency will become the financial system of the future. Finances love the stability that cryptocurrencies cannot provide yet.
Therefore, I do not think that banks will risk so much by issuing their tokens each and transferring their customers to them.
But blockchain technology for security can be implemented by each bank.

I don’t get the idea of cryptobanks because in the first place Satoshi Nakamoto invented Bitcoin in order to eliminate the middleman like banks who are quiet taxing and would sometimes doesn’t provide enough security at some cases and also your data are leaked if you were not engaging with reputed banks. Why would you let other people take care of your assets if you can make it much secure and you can do it by yourself. You could just buy a cold wallet and store your private keys somewhere safe away from any digital things.

There are a lot of banks who do not agree by the use of bitcoin because the crypto can overtake the bank from the uses and also the interest that it can give specially you can withdraw your money anytime without card.  I don't think if that will happen about crypto bank because there are a lot of banks that don't agree from that.

banking will no longer be relevant since we all have wallets that functions like banks. i'm however not aware what they are going to be to make banks relevant still.
since government will still need to collect taxes, there could be the need for accounting software that will pull data from the blockchain to calculate numbers that will be useful for government and banking. 


banks will probably concentrate more of the stablecoins backed by governments and institutions.

It is absolutely certain that the banks - if they want to survive - will have to adapt to the advance of the crypto and offer different services.
But a crypto bank doesn't make any sense, and it's a shame that few seem to understand it.
The crypto are already a bank themselves, there is no need for other institutions!

It does not make sense but since when only things that make sense are the most popular or the only ones to exist? Look at fiat, to have a whole system based on a currency that can be printed at will is a bad idea no matter how you look at it and despite this all currencies around the world are fiat.

A bitcoin bank does not makes sense either but I can assure it will exist and I could venture to say that banks will store the coins for the majority of people around the world as most people are too lazy to learn how to secure their coins properly.

Central banks will definitely be releasing their own crypto currencies. They cannot ignore this concept for longer. But obviously banks come under direct control of governments so decentralized coins cannot become an option for them. Crypto currencies are not banks at all. Banks hold an entirely different mission. Crypto banks will deal with centralized coin that will have some authority.