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Author Topic: Will blockchain kill traditional banking?  (Read 747 times)
angie.eyes
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January 10, 2018, 04:35:22 PM
 #1

A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/

James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
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January 10, 2018, 04:37:01 PM
 #2

I think traditional banking will not get killed by the presence of blockchain, some of them still need traditional banking and the state also needs it to reach the whole

akram143
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January 10, 2018, 04:44:57 PM
 #3

A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/

James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
Maybe crypto currencies will takes the place of banks in future but it can't be replaced 100% so the traditional banking will be there always but less people will going to use banks in future than now.

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January 10, 2018, 09:01:56 PM
 #4

I think it will because you find big organisations are slow to react and wait for the system to be perfect. I think they will adopt it but by then it will be strong and up and running.
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January 10, 2018, 09:18:19 PM
 #5

I think traditional banking will not get killed by the presence of blockchain, some of them still need traditional banking and the state also needs it to reach the whole

You'd have your point, but I somehow incline on the negative. I think established banks won't be killed off, instead I see them adjusting and enabling their present system to cater to block chain technology and crypto currencies.  Many banks are in that process already while some have implemented it at least on its primary stages.

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January 10, 2018, 09:32:27 PM
 #6

blockchain, bitcoin or another crypto curency never kill traditional banking
i think use blockchain technology tradional banking can improve performance about fast transaction

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bartolo
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January 10, 2018, 09:32:34 PM
 #7

Traditional banks will embrace blockchain technology, in fact, they are doing now. Banks will not dissapear, but people will have the ability to be less dependent on banks
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January 10, 2018, 09:33:57 PM
 #8

Actually for me i use that both for more safety and i stock also some money in my house so it's triple ways to save your money,I think don't rely in one place or things to save our money because there's no assurance in anything.I think also you need to rely more on bank than btc because the money in btc is so volatile but still it has good value.

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January 10, 2018, 09:36:35 PM
 #9

I think that blockchain startups are a serious threat to the entire financial services industry. At the moment, they are comfortable and earning way too much money with doing things as they have always done. They could afford to do that because innovative startups always had a huge disadvantage: lack of capital. Well, that problem is solved now.

I've worked with banks and have consulted them on innovation, they tend to be very conservative. Many might be too slow too react once blockchain startups and their solutions have reached the mass market.
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January 10, 2018, 09:37:11 PM
 #10

The banking system will not disappear and the crypto world will coexist with it. What is going to happen the banks will have less influence and maybe fewer clients than today.

The banks will embrace the blockchain technology to save on fees and upgrade their system.

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January 10, 2018, 09:38:32 PM
 #11

A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/

James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.

Banks will use blockchain technology. Don't think that banks will be totally destroyed by crypto.

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January 10, 2018, 09:39:19 PM
 #12

Well, when talking about traditional banking, you are talking about the whole financial system with trillions of dollars circulating and millions of jobs. At the moment, the whole world economy depends on it.  That banking system has been developed since centuries and it is still evolving.
Meanwhile, blockchain is a great new invention, but it should not and will not kill traditional banking.   Those two will definitely compete  and the users like us will be benefited in both ways.  
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January 10, 2018, 09:40:00 PM
 #13

That might be for the nearest future.  It's a gradual process and no it won't not everyone will embrace it so there will still be need for banking services. The time is not yet ripe.
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January 10, 2018, 09:44:52 PM
 #14

A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/

James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
I am rooting for the second one. Blockchain can improve the services currently being rendered by the traditional banks. This is already being championed by some corporations, even IBM

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January 10, 2018, 09:54:49 PM
 #15

Traditional banks already use crypto currency as a means of transactions, for example, if anyone does not know. Many banks switch to a chain of blocks.

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January 10, 2018, 09:59:21 PM
 #16

Not only will banks be disrupted, but also Wall Street. Saw a project the other day called Polymath that's building a platform for launching securities. Then those securities will be able to traded. Revolutionary stuff that's been going on. https://polymath.network/
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January 10, 2018, 10:03:52 PM
 #17

Not only will banks be disrupted, but also Wall Street. Saw a project the other day called Polymath that's building a platform for launching securities. Then those securities will be able to traded. Revolutionary stuff that's been going on. https://polymath.network/
I think that won't be enough to disrupt the banks. Instead block chain tech will improve what system banks currently have now. I am sure they will try to use blockchain tech one way or another after they discover the benefits they can get in using it. As far as I know there are already some banks that uses blockchain tech to improve their banking system and services.
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January 11, 2018, 05:55:41 AM
 #18

Not happening in the near future. We are still fiat dependent even now that cryptocurrency are blooming. There are very few places you can spend your bitcoin directly without going through 3rd party or fiat. And traditional banks handles fiat.

Maybe in the far future if we can spend bitcoins and other crypto currency directly, then we can render banks useless.
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March 01, 2018, 07:48:48 AM
 #19

its coming for its neck,in 5 to 10 years time is gonna be full  throat
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March 01, 2018, 07:56:25 AM
 #20

my opinion may not be destroyed, but added to complement the lack of traditional transaction systems. I think our world needs a better development. we can not survive without development
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