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Author Topic: Can we totally eliminate all the banks in this world?  (Read 5681 times)
geegaw
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April 21, 2018, 04:55:02 PM
 #881

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.
Agreed, the banking system is always guaranteed by the government, wanting to completely eliminate it is almost impossible, the number of people using the bank is still very large, if removed, many problems will come. Simply put, the government has built a strong foundation in the banking system and they have done it for many years, if now want to switch to something new, they will need a lot of time to finalize a new system, in addition, processing of the information of the old users is too complicated, so they will protect the bank, not let it disappear
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13risingforce
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April 21, 2018, 05:07:44 PM
 #882


It seems to be difficult and impossible. Eliminate the bank system or all the banks in this world. After all, banks are the benchmark and the center for managing the financial and storage of assets and savings in a country. If we try to remove it it will take good planning to replace the bank with something else. In order not to have a negative impact for many people or countries.
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April 21, 2018, 05:27:09 PM
 #883

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/


I believe not. It would be really hard for the whole world to totally eliminate banks since it is being used by most of people nowadays. A huge number of people don't have enough knowledge about what bitcoin is so I believe that they would still bank because they might think that crypto is risky. Lack of crypto education is the only problem.

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dammjoshconcept
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April 21, 2018, 05:32:28 PM
 #884

Its possible but it will really take a longer period of time. In some country the use of cryptocurrencies is not yet legalized. As a matter of fact some people are not aware about the use of cryptocurrencies. So if bank will be eliminated everybody must known about cryptocurency
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