Will blockchain kill traditional banking?

[btcpara]

The financial sector will always have some kind of regulating authority, just because no one wants to inadvertently fund terrorism or child sex trafficking, so we need laws and enforcement to prevent that from happening. Will it kill banks? Maybe. It's a possibility. We've been trying to kill off banks for years. The ATM was supposed to remove tellers from the equation, but now there are more tellers than ever before, because we seem to need the human component. When we figure that out, banks will disappear.

[Adil Amim]

Blockchain technology is still developing, yet a large number of population is unaware about blockchain technology. So it has no chance to kill traditional bank. Blockchain can consist along with traditional bank as many big people are involved in it, but replacing it is not possible because both is important in their prospective.

[gates]

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.

Right! With the blockchain technology bank system will not be needed anymore. Even now banks are becoming less popular.

[trickyriky]

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 don’t think that banks will disappear in a near future. It isn’t seemed so. I predict closer cooperation between bank system and cryptocurrencies, technologies they represent. First of all I mean blockchain.

[manoj kumar k]

i think 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 best but less people will going to use banks in future than now.

[taktik]

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 don’t think that banks will disappear in a near future. It isn’t seemed so. I predict closer cooperation between bank system and cryptocurrencies, technologies they represent. First of all I mean blockchain.

The fact is that the technology of the block of chains is already being fully implemented in the banking system today, because today something is happening that you are talking about. The banking system has always been able to go With the times and today is not an exception.

[freakslot]

if this happens, then very not soon. the traditional banking business was formed over the years. so far, the crypto market is not strong enough to kill this process

[titusha]

I am sure that sooner or later the blockade will exactly change the perception of the world that is habitual for all. I think in about 10 years we will be able to fully store our money on a basis based on crypto-currencies.
Only banks will not go anywhere, they too will pass to crypto-currencies and at the expense of it will remain actuality. But this is my opinion, maybe I'm wrong.

[zirtlan]

i think traditional banking will always exists.however they will improve with this technology also. when cryptos being global they will join in this.

[senin]

The banking system can not disappear through the introduction of crypto currency. Banks are necessary to serve the economy of the country and it is unlikely that any state will risk planning its economy with reference to the rate of the crypto currency, say, bitcoin. That would be suicide. With the strengthening of the positions of the crypto currency, the importance of banks will decrease slightly, but they will use the crypto currency in their activities and in their calculations.

[dulari1]

tradition banking will not last long if they do not use blockchain technology in future .
there are many project coming which trying to make payment more faster and almost free .
also storing your own money in your hands make you feel safe .
banks have only option to change the system and change with time and tech .
but instead of improvement , they are trying to ban crypto purchase ..

[cryptomema]

Might be in the future? when most of the government or countries has fully adopted the cryptocurrencies,it can really replace the fiat and the centralized banking system if and only if these people will allow it to happen but it needs a lot of time so that people will understand how the blockchain will work,transparency would be better with each transactions.

[dz roknroll27]

In this regards, it is very safe to say that banks will survive  banking is much more safer than digital banking although digital banking is much faster and less hazel than traditional banking and even digital banking is much profitable

[bitor]

No, anywhere. A lot of project's on blochkain are failed, and this technology isn't so good to kill traditional banking. Maybe in future it can be competitor with it, but not now.

[zeingrind777]

I think blockchain technology will replace the traditional bank system because, with a transparent blockchain technology, people will switch from conventional banks to blockchain systems. even with faster blockchain delivery with no other business

[maman09]

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 do not know, I think without needing to read the links you give. I'm sure, blockchain will not interfere with banking. yes, because after all banking is needed by all levels of society. if possible the blockchain system will be adopted. not mean will turn off at the traditional bank.

[blue08]

I think blockchain will not kill traditional banking because even them are starting to adopt this innovation. Also, not all areas in each country has an easy access on the internet so they will still need the traditional banking system. Blockchain will only lessen the clients of traditional banking in the future.

[cobak pole]

that statement does not make sense, with the blockchain of the bank, it will not be hacked because humans are unlikely to use crypo money completely in their lives, because crypo money is very risky if used entirely in human life for example in very fluctuating prices ups and downs

[Ariess]

I do not think so, I think a lot of news says the blockchain system will be adopted by banks in some countries.
the possibility is very small to kill traditional banking. and that too will be much debated many circles.

[svobodnyi]

It seems to me that this is just a matter of time. Over time, a blockchain can replace everything. He has already penetrated almost every sphere.