Will blockchain kill traditional banking?

[VenturaBro]

I don't think just because the blockchain tech is better than that of the traditional banking, that it'll kill traditional banking as a whole.

Even if it's 100x faster,  I don't think banks/people will still adapt to it because they're not familiar with the tech.

[jakiro.hovard]

Most likely it is, I think that blockchain will become the basis for other banks that integrate this technology into their banks. Because blockchain is a very remarkable and promising technology.

[aceptamosbitcoin]

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 think that blockchain will kill traditional banking eventually.
BUT will NOT kill the banks. Banks will adapt and adopt the technology and will make even higher profits from that.

[Baoo]

Well , the era of cryptocurrencies has changed everything in the field of money. And thanks to him, the transactions of money became so simply and easily and no taxes, and contrary to what happens in the transactions of banks In which the users are fully exploited. Furthermore,  the existence of Blockchain led to financial losses in some banks  and consequently,  some of them ( big banks) have invested huge money in some digital currencies and they made a some digital currencie ( like : Ripple).
As a matter of fact,  Blockchain became more successful so in my opinion, if the governments will not recognize digital currencies, then it is very expected that in traditional banking there will be a major financial crisis.

[CryptoCY3366]

I don't believe it will kill it. Blockchain will transform traditional banking....

[nightmanisrightman]

As far as I can envision things Bitcoin won't kill traditional banking but I can only envision 10 maybe 20 years into the future. In 50 years from now there could be no banks and we could only have blockchain tech, we don't know this. But what is more interesting to me is can they kill traditional banking? The answer to that question is most certainly yes and I would actually love it, if the traditional bankers thought no for the next 20 years. The more ignorant they remain, the better chance they get overthrown. Remain ignorant and stagnant, for you won't remain on top forever silly bankers .

[ihaveaquestion]

The vast majority of the world doesn't even know what bitcoin is

A 15% change in value is a normal day for bitcoin

No one accept bitcoin as payment

The bitcoin network can process 7 transactions per second tops

[BountyGo]

Eventually banks will embrace Blockchain and use it to their advantage (don't know about BTC specically tho). But blockchain will require a HUGE increase in efficiency before it becomes commonplace.

[ramini]

Blockchain and Crypto are offering a lot of things than banking but not fully.
I mean, in the banks if the owner of the money dies then the immediate family or the beneficiaries can get his/her wealth but it is not possible on Crypto if the owner didn't pass it over his/her family.
That's why I do pass my private key to my sister because if there's unfortunate things happened to me then they could enjoy my Crypto Assets.
Holding Cryptocurrency in your wallet is just like trusting your money in the banks but your Crypto Assets are right there on your wallet and you could use it anytime anywhere, whereas in banking, you can't access them fully if the office is closed.

[BunnyToken]

i think yes, but not with BTC price transfer

[madtea]

Banks should be greatfull that Bitcoin creator gave them blockchain technology. Not embracing it is kind of a cherrypicking culture that does not contribute towards its developments.

[2stout]

No, if anything they will adopt it so as not to not go the way of the dinosaur.

[yudhistira]

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 think that the blockchain technology will not only change the traditional banking system but everything else. It is used in all branches of the economy and represents the future.

[Wildskull]

Banking will never die. Just there will be a choice of conducting calculations:
1. In the traditional way through bank;
2. By means of cryptocurrencies.
Well and of course at cryptocurrency of an opportunity will be much wider.

[ramini]

Eventually banks will embrace Blockchain and use it to their advantage (don't know about BTC specically tho). But blockchain will require a HUGE increase in efficiency before it becomes commonplace.

I agree with the statement. Banking will adapt blockchain into their banking services because In the future we don't need banks to secure our money because our assets will be right on our digital key files and or hardware wallets.
even the world is adapting fully into blockchain but certainly there are still more reasons why we need the banks especially on money loans so that we could get capital for our business and personal projects.

[Cryptonimous]

for sure it going to kill traditional banking, because blockchain have fastest trancastion and very safe. no one can hack it, i think if bank doesnt want to die it will adapted blockchain and it will be huge things for bitcoin rise up

[FaucetKING]

For me and depending on the real situation that i can see, blockchain has no problem yet with banks and they are still in peace.
The real war between banks and crypto hasn't started, it may start in the future and i think that gold and silver will be watching
Let's hope for our benefit, let's live the dream!

[ramini]

Banking will never die. Just there will be a choice of conducting calculations:
1. In the traditional way through bank;
2. By means of cryptocurrencies.
Well and of course at cryptocurrency of an opportunity will be much wider.

There are certain things that banking could offer that isn't available in blockchain.
Like, cash loans as used as a capital for businesses or personal projects like home renovations, buying a new car and other services.
Although some blockchain are offering lending Cryptos to people but the local banks could offer more to their clients especially on KYC requirements.
Blockchain can replace the banking system but not fully. There are still huge gap between banking and Blockchain.

[junjunsalsalani]

Yeah thats very possible because the cryptocurrencies will replace the fiat in the future and the banking system would be replaced by the blockchain technology.That is why these banks doesnt allowed any transactions from cryptocurrencies in their banking system,or the users account who has cryptocurrencies transactions are being closed.

[mirgo1791]

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as occupying the use of modest with the selection of switches with the modulation


as parts within the sphere of marginal substitution range of exchange to gives with delegitimated collaterate as offering use on consequence as partisan within the nominal sectors to counts of abbreviate value of returns with qualification.