Can we totally eliminate all the banks in this world?

[Andrej Peiboski]

I'd like very much to never hear of banks but they will stay still for long time.
In case of global acceptance of bitcoin, probably they'll change their role, but not so fast.

[Dodoymabs]

Not sure that banks will be totaly eliminated (too much money and too many smart minds are staying behind the bank system) but I'm sure that banks will have to change the way they work. It seem like P2P transactions are pushing banks to make those changes and blockchain is bringing innovations to this sphere.

We cannot easily eliminate the banks because for the business man banks are their friend because in terms of needs they can ran through banks. Example if they wanted to build another business then lacking of financial or capital banks can let them borrow eventhough their is a terms and condition to be follow. But banks offer also loans for houses. But as of today bitcoin fast earnings than banks because people can easliy buy house without ran through banks if they will work hard of it.

[Lhaine]

Banks won't close, but I'm sure Banks will have to change the way they work. Because virtual currency is the trend of future development.

I agree, it's very impossible that banks will be close,  there are a lot of people who doesnt know bitcoin and some of them are involved in bank, it's either they save their money in bank or their business is involved in the bank.

[douhancan58]

This is certainly not possible, and if all the Banks were to be eliminated, the cryptocurrency would be replaced. All transactions need to go to the bank. We don't want Banks to be eliminated. I think Banks should recognize the potential of cryptographic COINS and improve their functions!

[Coinsher]

I think in this generation definitely no, in the future perhaps. However there are facilities banks offer other than processing transactions which are valued, such as lending, these would need to be replaced somehow by the crypto markets.

I think it won't happen in the future.Banks are useful in the economy.They can provide livelihood programs for the poor families across the country.Banks has been proven for being safe in transferring money whenever or wherever we are.Indeed,all big industrial companies use this as the distributor of all wages and allowances of the workers to avoid delayed.Aside from that,all banks now continue finding ways to improve the security of the systems.They never stopped because their goal is to reach the satisfaction of the customer.

[2taps]

No. We cannot eliminate all the banks in this world because what is your goal for eliminating the banks in this world. Banks works as a mediator between those who have surplus and who are in need. Currently no substitute institutes or agency is there which can replace banks.

I agree because banks will always exist. Even if a lot of people will use bitcoin there will always be some people that need a bank and maybe the banks will find a way to work together with bitcoin to also save your coins in the bank.

[Omnia Vanitas]

I don't think so: even in case of generalized use of bitcoin, they will provide all kind of financial services

[mrbnson]

Unlikely: even in case of a wide acceptance of bitcoin, for most of people banks will be the main source of financial services, as loans or leasing.
But who knows, the world is changing, may be new kind of services will appear on the market

The advantage banks have is that they have been relied upon and trusted for many years, even if they become effectively redundant they will still be used by a number of people who are afraid of change.

[Koadharber]

No. We cannot eliminate all the banks in this world because what is your goal for eliminating the banks in this world. Banks works as a mediator between those who have surplus and who are in need. Currently no substitute institutes or agency is there which can replace banks.

I agree because banks will always exist. Even if a lot of people will use bitcoin there will always be some people that need a bank and maybe the banks will find a way to work together with bitcoin to also save your coins in the bank.

I cant see banks would correlate with bitcoin instead they would rather create their own coin by using blockchain technology too. Eliminating banks do have on 0.0000001% chance or even 0% because as long theres government those institutions would really exist no matter what happens even crypto trend will boom up they will exist and people would really always prefer into those things which are being backed by government itself.

[2Godbdglory]

Can we totally eliminate all the bank in this world? Not at all because bank is a medium where we can change the bitcoin into cash.

[Semosuchi Tesongrato]

Actually, banks are a big part of economical system, not only for the services they offer, but for the power they represent.
Even in case of global acceptance of bitcoin, you can bet they'll find a way to keep their control over monetary system.

[StarofBTC]

I think it will be hard to eliminate banks because maybe someday they will catch the trend of Bitcoin or other crypto. I think government wil not allow that their banks will be eliminated.

Agreed! There are very much rare chances of this thing to happen. Banks are the basic need of the society and banks are being regulated by government.

There are very little chances of this as banks will remain in this society as long as paper money is there in this world. Crypto currencies will no doubt effect the paper money but still it is very much hard for them to do such kind of thing.

[scorpion27]

bitcoin can replace the existing banks in the world if more and more countries that legalize bitcoin. because blockchain is a new technology that can replace the function of the bank with very low cost and high security

[Advicerabi]

In the future I believe we will be entering the digital age, and the use of crypto currency will increase, but that does not mean the bank will disappear or will be eliminate. The Bank is a financial institution that I think really help us and runs an important role in the economy of a country, so in the future the bank also still in need.

[19faraon88]

Yes we can, especially now that we are on modern day. Some may say that it cant. But come to think of it, where do people usually buy nowadays,  on-line,  right?! So it is really not impossible that the future money that we're gonna used is the cryptocurrency like bitcoin.  As of now we can buy and pay online using Bitcoin/cryptocurrency, while other still used credit or debit card. Do you get what i mean, just by clicking our crypto wallet we can buy and pay too. So it is really not impossible.

[markk94]

i think that would be hard if we want to eliminate all banks around the world. their monopoly on people is just too far and advanced. maybe there's a way to clear banks. but, i can't think one or more possibility to eliminate it.

[Magister Magus]

To eliminate the banks would mean the there is no more cash, no more fiat money, no more governments...
It's possible, of course, but it's very improbable.

[ausbit]

Actually, banks are a big part of economical system, not only for the services they offer, but for the power they represent.
Even in case of global acceptance of bitcoin, you can bet they'll find a way to keep their control over monetary system.

Exactly! There is no way that we can eliminate the existence of banks in the society. Banks carries a very significant importance in the society and most of the people are dependent on banks and banking system in number of ways.

With the introduction of crypto currency, the usage of paper money will be reduced but even then banks will remain there in this world and people will use them for their convenience.

[MidKnight]

Banks will stay but their numbers in the future are going to be reduced tragically. It's going to be smaller banks at first and  large local banks and then only few international banks will be left.

[kaspersky15]

i dont know if we can eliminate all the banks in this world. even bitcoin or cryptocurrency came big banks or financial institution is still adapting the change that bitcoin want. so even bitcoin is widely accepted. i dont think that bank will disappear in this world.. they backingup the coins that has the same system or principles that they have for them to survive in the society.