Can we totally eliminate all the banks in this world?

[sheenshane]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

Maybe it will happen if all establishments, departments store, or even in open market will accept payment using bitcoin. Mojority wins if all people using cryptocurrency then instead of saving in the bank they save their own using their wallet.
As of now maybe no but in the future maybe perhaps, through banks we can exchanged bitcoin to our local currency, maybe crypto currency at that time will partner in business with all banks.

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[000JC88]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

Probably not, at the moment we don't have the tools to do this.
Cryptos are very immature to even replace cash money, are more like an experiment at the moment, we all like the idea but realistically it can be done yet.
ICOs will help for this,  after sometime and many failures we are going to have solution though them.

[nagatraju]

and what a need for liquidation of banks?...let themselves live a free life...they will usable if the cryptocurrency won't be so good in the future

[Erkallys]

I am not in favour of closing the banks. I might be hated for saying this, but wanting this is a bit childish and completely unrealistic. As long as there will be fiat money, there will be a need for banks. And since fiat money is here to last, banks are too.

[coat47]

No you can’t because a bank is needed for the local busines. The medium-sized enterprises plays a vital role in the local economie. In most countries these  medium-sized enterprises represents 98% of all entreprises of the country. And these companies need banks to invest and develop their business.
In the future, you will not have 90% of enterprise in the blockchain. Hôtel, restaurant, baker, builder, traditional occupations  will always exist. It’s not with the blockchain that they will get the money they needed.

[mega]

Banking is too old system and  to vanish it from this era its too hard and will take time,if it can not be eliminated it will replaced from physical currency transaction to digital currency transactions. Adopting this first of all government legalize the cryptocuurency and allow to central banks then central bank will set policies and procedures then common banks will follow and implement policies and procedures.

[muhammad-adnanzain]

Mybe no, banks are a government tools to control national economic, they have a jobs to stabilize economic like monetary policy.

[goku1525]

Mybe no, banks are a government tools to control national economic, they have a jobs to stabilize economic like monetary policy.

Yes it's  a big no!, we cannot eliminate all tha banks in this world  because it is very useful among of us It helps our economy in different ways. Many people who are financially educated uses bank and keep their money in banks. It helps the circulation of money and one of the most in charge to balance the financial system in our world.

[Flowzer]

really .. people prefer bitcoin as a very good investment and profitable for them than they use the bank. if you are bankable you will only pay the tax on the bank as well as very little income. in contrast to bitcoin which has a very fluctuating and often changing price. it makes kisa take the opportunity to invest. so people will switch on bitcoin instead of using the bank.

[Xanxus024]

No, Impossible to eliminate bank as we all know that the other bank is willing to accept bitcoin or other cryptocurrencies by converting to local currency and   bank is institution that used by the people for over hundred years, so even bitcoin cannot eliminate bank.

[Sexie]

No. I think, if all the banks Will closed How can you produce money, crypt is just only for exchange.

[HarringtonStark]

No. I think, if all the banks Will closed How can you produce money, crypt is just only for exchange.

yeah and the banks will treat it as fiat since they have nothing to bank

[zarados]

before you're going too far about eliminating the banks, you need to know that the bank has an important role in the economy in a country. Some of them are Maintaining monetary stability, conducting research and monitoring with the economic condition, Creating fiat, and maintaining the country's foreign exchange reserves. So if there's no bank, the country needs to rearrange their basic economy. So, let just think that the cryptocurrency is a technology that can make banks become better than it will eliminate it.

[BeGoods]

It could be possible because cryptocurrencies like bitcoin is increasing too much day by day or month by month. Investment in cryptocurrencies are much more higher than banks.

Nope I think that is not possible. the first bank will always exist because the support by the government in every country. fiat will continue to be the main currency then the bank will continue to exist. banks are not just a place to save money but as a country's economic regulator as well. so impossible bitcoin can make the bank disappear

[maxamus]

No. I think, if all the banks Will closed How can you produce money, crypt is just only for exchange.

yeah and the banks will treat it as fiat since they have nothing to bank

Fiat is going to stay forever and banks will never end but bitcoin and other altcoins will act as best alternative to Fiat and will be controlled by the user rather than government and it will be great if more number of users adapt the bitcoin I mean crypto currency over Fiat but the only challenge we face is that volatility of crypto world

[sharted]

No. I think, if all the banks Will closed How can you produce money, crypt is just only for exchange.

yeah and the banks will treat it as fiat since they have nothing to bank

Fiat is going to stay forever and banks will never end but bitcoin and other altcoins will act as best alternative to Fiat and will be controlled by the user rather than government and it will be great if more number of users adapt the bitcoin I mean crypto currency over Fiat but the only challenge we face is that volatility of crypto world

It may happen but it take some time ,even it may be couples of decade.At first  bitcoin will replace the entire FIAT systems and then the bank process.Bitcoin has  huge power to replace the dollar and remaining currency system.

[a4techer]

Can bitcoin eliminate anyn or all banks if every country was legalize bitcoin because right now bitcoin was one of the cryptocurrency lead and number one even the banks they didnt know what are they doing if already the bitcoin legalize because you do not need  bank or save your money in bank for a small interest but if you invest your money in bitcoin for sure you earn a big amount of digital money.

[Kadal Ijo]

Banks are still needed and will last forever, financial services are highly dependent on banks and the government will fully protect the banks so it is not possible to disappear.

[trako]

in the future it is possible. but now it is impossible. we need their infrastructure systems. for this reason it is not appropriate to raise them. this is the fear of the banks already. they know that a system is no longer needed for them.

[BaraxLo]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

As of now we cannot totally elimate all banks in world and change it to digital currency because,as long bitcoin is decentralized and not regulated by the world goverment we cannot pursue our destiny to change from money banking to cryptocurrency world.because all our dreams to be bitcoin capital would be in the future only,because of so many barrier  before we implement  a cryptocurrency.

It is possible, yes, following an evolutionary thought we can draw a time line, where today we have a banking institution that is derived from a very old system of money control.

Formerly common people worked as banks, lending money and receiving interest, this has evolved into the way we are today where we have a whole institution focused on money but if we follow that time line, we can fill the BTC as a possible substitute for the banks, because it meets all the demands that the banks do not meet, and still has the system of decentralization which would avoid much bureaucracy.