Will blockchain kill traditional banking?

[Javanewstar]

I don't think it's going to kill traditional Banks, blockchain because the chain of traditional Banks can adopt completely block technology, so they will continue to develop the business, if the bank does not accept blockchain, then the bank will be eliminated in the future.

[Fretcy]

There are no chances for the block chain technology to kill traditional banks as all the crypto currencies are still backed by traditional currency as the crypto currencies does not have a physical form those crypto currencies are converted to traditional currency through exchanges to the banks to convert to the local currency. Many Governments have accepted this block chain technology and they are infact, trying to implement this technology to the banking system for the ease of use world wide. As the world is moving to a digital world they banks should also change to attract more customers.

[melancoly]

such a possibility is very difficult, especially in underdeveloped countries, people do not even know the blockchain.

[buhna]

I don't think so. Or maybe - not now. Maybe in a future. People are conservative and it is not easy force them change their habits. And cryptocurrence sphere is too young for it.

[diva.man]

The bank will adapt to local conditions and change the existing model to adapt to the trend of internationalization. If traditional Banks can better use blockchain technology, they will greatly reduce their operating costs and enable Banks to develop better.

[miyaka26]

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.

Banking is closely related with government. Block chain may be used in banking but I don't think it can kill

Rather they will adapt to the blockchain itself, stay with their traditional banking or create a new technology that will surpass this technology.

I don't think it's going to kill traditional Banks, blockchain because the chain of traditional Banks can adopt completely block technology, so they will continue to develop the business, if the bank does not accept blockchain, then the bank will be eliminated in the future.

If the blockchain will be the innovative future system for monetary and other forms of business as we cannot tell if there is a possibility that this will be adopted in the near future, new ideas and changes are always subjected to our technologies and systems we cannot stop the evolution of technology, there would be a much better technology than the blockchain.

[cheezcarls]

I honestly think that traditional banking will not go anywhere, as some of them don't want to be left behind with the disruptive blockchain technology. Like Unionbank of the Philippines for example, they have decided to ride the waves by integrating Ethereum to their system pretty soon.

There will be other banks to follow as well. If blockchain would overtake the traditional banking system, the only way for these banks not to be left behind is to adopt blockchain into their system. Even if they don't, we still need them for us to store fiat currency.

[dewi91]

In my opinion blockchain Will never kill tradisional banking because tradisional banking have many function for example banks help people to get money loans. Bank and blockchain technology very helpful for people in the different way, so we need the both.

[patbauer]

The blockchain technology will HELP banks, NOT kill them. Banks are strong and reliable entities which help governments for KYC and AML protocols. Banks are more than just an intermediary and it is a utopia to assume that they will cease to exist.

[Thyaga]

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.

thinking that blockchain technology can make traditional banks more efficient and transparent.

[Psalms236]

Blockchain technology can't kill traditional banking instead traditional banks will embrace blockchain technology and little by little they are adopting it now.  I believe that banks will not disappear because they are the licensed gateways to traditional currency.  Blockchain technology  will help banks but will not kill them.

[Akosibatman]

No, i see that the traditional banking and blockchain will combine in the near future. This two will help each other to run the fiat currency in the world. Blockchain is the future and the traditional banking will help the blockchain to deliver us to that future which is the blockchain. I think that the traditional banking will use the blockchain, hoping that someday or soon that banks and blockchain will help and use each other for the good of people.

[SeNeor]

Giving this a thought, I feel some Traditional Banks who are already making use of on line transactions shall along the line switch some of their operation to the Blockchain, giving Cryptos a leading head when such period arises, but can never and totally wipe away the existence of Traditional Banks because it is not everybody even as at then that can totally accept the crypto developments.

[cryptolottocc]

Either blockchain kills traditional banking system or traditional banking system kills blockchain. There are only two possible ways.

[Jaya912]

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.

Cryptocurrency can not kill bank 100% but only less people will keep the money in the bank.
In my opinion, i am people who like risk to get high income. In the same time, we need to be wise also as human. Human can not life without food, so we need money to buy it. Put all money in high risk like this can be dangerous for our life so split the money to crypto and bank is much better idea.

[Vanester2014]

There’s no doubt about it surely blockchain will bring all bank down in the future. As we can see today so many big name people realy interested in blockchain technology. This blockchain technology will bring down bank in the future and blockchain will take over the mode of payment in the future.

[matuson]

The cost of traditional Bank transfers is much cheaper than transfers in blockchain. The transaction price in Fiat is limited only by the degree of greed of bankers. I do not believe that banks will use the blockchain for transactions. Banks can use the blockchain only for the exchange of documents. We will not see these changes.

[Gregamon]

Well at least banks will have to adopt. They already transferring money electronically, but they will not have the same control as before.
And crypto will come in front as the new financial market.

[iigor]

There’s no doubt about it surely blockchain will bring all bank down in the future. As we can see today so many big name people realy interested in blockchain technology. This blockchain technology will bring down bank in the future and blockchain will take over the mode of payment in the future.

Good luck with that!
So many big-name people are interested in block-chain not to bring the banks down, but to make money.
I don't think the banks will give it up so easy.

[Tetep Mesem]

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

really what you say that I know the traditional banks have their own position among the people. blockchain only helps security in data storage used by banks.