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Author Topic: Can we totally eliminate all the banks in this world?  (Read 5680 times)
Ramtapsbtc
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April 19, 2018, 09:31:58 AM
 #861

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/

Banks will be affected with the existence of bitcoin becuase banks has lesser interest rates. Maybe we can use banks to deposits our important documents such as lot titles and also our jewelries as well.

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April 19, 2018, 10:00:41 AM
 #862

BTC will not wipe out the bank, and the bank will occupy an important position in the real economy!

But BTC can change the bank, reduce the bank's business and profit!

Use BTC to transfer money, save money and transfer fees!

The use of blockchain technology in the bank will reduce the cost of the bank and improve the efficiency of the bank.
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April 19, 2018, 11:02:38 AM
 #863

In my perceptions Bank will only be eliminate if banks will not adapt the system of digital currency, this could be their end.  But if once they accept or adapt it or join the trend they will still exist more.

                   
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April 19, 2018, 11:10:17 AM
 #864

Its possible but I don't think this needs to be the aim. As long as crypto in its decentralised form exist in the future as well as banks that will be enough for its benefits to change the world
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April 19, 2018, 11:19:31 AM
 #865

In future perhaps, but it is not possible right now. Banks still control everything in the our communities there is no way to exclude them in our businesses.

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April 19, 2018, 11:33:38 AM
 #866

I think it can be possible it will took time,Because the popularity of Bitcoin and crypoto increasing and the day is not far when it will commonly used and took place in every financial activities.Bitcoin is pioneer and grooming quickly over all the globe.
Traditional banks took time to done transactions and having limited service,while Crypto have no boundaries and without any hurdle you can make transactions globally.

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April 19, 2018, 11:46:46 AM
 #867

I don't think this is possible, I know that Bitcoin is awesome and all but I don't think there will ever be a time that banks will be totally eliminated, remember, these banks are backed by governments and big corporations which are the pillars of every nation, I don't think they will allow anything to replace it more so a decentralized one like Bitcoin.

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April 19, 2018, 11:51:37 AM
 #868

No, We wont be able to and we dont need to as well. Because of bitcoin and other digital currencies we will see bank busimess model change totally. Bank's custodian and loan business will reduce to some extent but wont be eliminated completely.  The use of blockchain technology in the bank will reduce the cost of the bank and improve the efficiency of the bank. Banks will survive but with range of services.


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April 19, 2018, 11:52:31 AM
 #869

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/

Yes there is a huge chance for banks to get eliminated in the future because there are a lot of people who are interested on cryptocurrency and if the growth of bitcoins will continue to grow then there is a huge chance for banks to be removed in the future.

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April 19, 2018, 11:56:44 AM
 #870

No, We wont be able to and we dont need to as well. Because of bitcoin and other digital currencies we will see bank busimess model change totally. Bank's custodian and loan business will reduce to some extent but wont be eliminated completely.  The use of blockchain technology in the bank will reduce the cost of the bank and improve the efficiency of the bank. Banks will survive but with range of services.


Well said. I suppose that the development of such events may well be. I also think that the standard banking system will be changed, and not completely disappear. But paper money can be replaced with digital currencies.


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April 19, 2018, 06:18:07 PM
 #871

i dont think we can totally eliminate the banks in all over the world. it would be very good but it is very uthopic. but we should try to reduce the dominance of traditional banks as the first step. blockchain based currencies are a good way to reduce this dominance.

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April 21, 2018, 02:06:04 PM
 #872

In my opinion, removing the banking model from the national economic system is very unlikely. Banking is a government-level priority management tool that balances, operates and maintains for each country's own currency. In addition, the bank is truly close to the people and promotes the development of businesses and plays an important part in bringing about reforms for the economy and society.
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April 21, 2018, 02:09:12 PM
 #873

That's not possible and if that could be done means all our currency is useless.
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April 21, 2018, 02:09:18 PM
 #874

Banks will be eliminated only when human beings will find another way (more efficient and/or more effective) to the job they do. For now I don't see anything that can replace them in a credible way.
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April 21, 2018, 02:54:29 PM
 #875

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/
We can't eliminate the bank in this world because aside from different owner was they have an employee that really want a job.And if we eliminate that many people are jobless.

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April 21, 2018, 03:23:21 PM
 #876

In every country nowadays exists national banks protected by government. That means we have no chance to eliminate all banks in this world even with bitcoin.

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April 21, 2018, 03:56:17 PM
 #877

i dont think it is possible in short term because people will keep trusting in traditional systems for a while. but in next generation they will understand that current banking system is only robbing people. but crypto currencies that use blockchain technology provide much more transparency with better solutions for everybody.

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April 21, 2018, 04:24:22 PM
 #878

The world is developing rapidly. Do not stand still, but ... I think it's too early to think about it. Not all people believe electronic money. Not everyone is ready morally.
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April 21, 2018, 04:35:48 PM
 #879

There is no way we can eliminate the bank because bank is government  approved.
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April 21, 2018, 04:54:46 PM
 #880

Good question. My opinion, I think that now is not the time. When people will believe in cryptography, then this moment will be
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