what will happen to banks?

[Kalemder]

the banks will be miners of the future. they will not leave a place where money is

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[South Park]

I think blockchain is a new form of bank in the future, so the possibility of fiat banks will not follow the path of bitcoin because banks are looking to profit from deposited customers' money.

Yes, corruption not only shows up in the goverments, it shows up in the banks also , so blockchain system will help the banks to spot the fake and corruptions in the system.

Corruption will not be possible without the cooperation of banks, in my country is very common to hear news of politicians with secret bank account in other countries, but how is this possible? The banks should do a KYC and ask where that money came from but they do not since they know they get better benefits helping those politicians than if they exposed them.

[TutorShow]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

bitcoin can effect in bank system which is only away to connect cash money between people.
banks can continuous give other services but will effect sending services.
in future new technology will be use

[joinfree]

?? ?? ?? Are you serious?

How old are you? Are you 15 years old or 13? I bet all my life savings that you clearly do not understand how the economic system works.

Probably you were watching Marvel Evolution before posting this shit.

the banks will be miners of the future. they will not leave a place where money is

[sister1001]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

The business of lending banks is based on the ability to create money with a limited deposit on a central bank. They have a huge advantage over cryptos and will use it.

[FinalFury]

I think bank make more by lending. And the laws are such that they can lend 6 times more than they have. So if they have 6 trillion, they can lend out 36 trillion.

[podrick17]

They will continue to exist along with the cryptocurrency, we know that crypto is a threat to financial institution because of its strong prices and still keeps growing but banks could not be easily gone as long as the fiat system is there.

[Pengemistua]

Banks are conservative institutions. From their point of view, they will be very little working with Bitcoin business, while they may lose a lot. In fact, the biggest piece of the company will only generate a few hundred thousand dollars in income to the bank, which is of little value to him.

[mx667]

They will continue to exist along with the cryptocurrency, we know that crypto is a threat to financial institution because of its strong prices and still keeps growing but banks could not be easily gone as long as the fiat system is there. Banks are conservative institutions. From their point of view, they will be very little working with Bitcoin business, while they may lose a lot. In fact, the biggest piece of the company will only generate a few hundred thousand dollars in income to the bank, which is of little value to him.

Nothing happens to the bank. Banks will remain the same and will probably develop in the form of systems and services. You do not need to be too excited, and I guess you just have to focus on how many cryptocurrencies you can manage and you collect. Perhaps with the growing cryptocurrency, banks will also update and evolve into something bigger. Maybe banks will be no longer needed if most people use cryptocurrency. But I think the bank will still exist and is needed by people. Why ? That's because we'll still be using regular and normal currency.

[19faraon88]

Banks would still have its operation. Maybe someday, banks would accept bitcoin or any cryptocurrency as deposits. But if banks not accept it, still banks operate because of the people don't believe in the future and not believing in cryptocurrency.

[Triyavam]

banks should not be affected by bitcoin technology or bockchain, it's just a different form of money,
The public will remain skeptical of crypto disaster for some time and thus will continue to use the bank,
I think banks are very important in today's world and their reputations, will enable them to survive even today where they compete from the cryptographic market.

[expert4knowledge]

They will continue to live and you will continue to need them.

Nothing will change, except for people who become rich

[etron]

there is probably no problem with banks, some banks are working with blockchain because it will increase the foreign exchange for the bank, and will not affect the financial institution because the bank is a conservative institution. And for bitcoin users using the bank's wallet will increase the profit for the bank.

[Hopeful2017]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

Banks will stay as deposit, withdraw, lend and save. Banks normally earn profit from you own savings. In the presence of cryptocurrencies, banks needs to update themselves, or, they will seek advice to the government to ban bitcoin because of its negative effects to banks. For example, instead of putting your money in the bank, people prefer investing in cryptocurrencies.

[CuteBaby123]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

The existence of cryptocurrencies has an effect to the banks. In terms of investment, people now preferred to invest in cryptocurrencies and ICOs. In terms of online transaction, they prefer now wallets over online banking. In terms of trading, people do it by themselve srather than entrusting them to banks. Banks would stay as is it, however, they need to adjust and adopt to changes and trends.

[warunacrypto]

in the future people are not going to use fiat currency they will addict to use crypto basic currency to use day today activity.

[faatipoke]

I think banks may be the companies that supports financial cryptocurrencies and take profit from them. I mean, cryptocurrencies are good for paying or storing wealth. However an growing economy needs credits, loans, or other financial instruments. Bitcoin does not offer this, but some crypto projects offer these solutions but I am not sure how strong they are. In this points banks are the ones that supports them financially and strategically to earn profits

So we can say that Banks will evolve into some credits or loans companies in cryptocurrency worlds.

[MidKnight]

in the future people are not going to use fiat currency they will addict to use crypto basic currency to use day today activity.

Not totally. Fiat still give convenience to people especially under developed countries so I think they will be the only reason for  banks to strive and stay alive.

[daniel1156]

I think nothing would happen to the bank at all. It wouldn't be greatly affected by the booming industry of bitcoin.

[payyy]

If you really think that banks are going to disappear, then you need to understand a little bit how Banks and that kind of institutions are working at the moment. They will never let bitcoin take over it's sit on the table. Just take a look over this on Google, and try to learn a little bit.