Will blockchain kill traditional banking?

[alarsincoin]

i think not. not so soon. banks have many services exept changing and saving fiat. They will make services working with crypto. Always there will peples who will have bad knoweledge about crypto but will want to use it.

[1715341489]

1715341489

[Jaya912]

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

the some local banks in my country have embraced blockchain technology to their system.
i noticed that the system will not kill each other but can support each other. so it will be perfect

[Renampun]

indirectly the system from Blockchain technology has begun to kill traditional Banks slowly,
more appropriately called the system renewal of the old transactions (Traditional Bank) to the new way of a transaction (Blockchain)..

[Rexler]

Even If blockchain will replace traditional banks, It'll not be anytime soon. Because current blockchain solutions are not up to standard for such capacity. High transaction costs, slow transaction confirmations and other issues are a big turn off. Imagine exchanging  $200 (in BTC)  to fiat will require a fee of about $30 ~ amounting to around N10,000 in my local currency. That's high. The average bank fees are N50.

[Rudementry]

Well, it is not possible to completely kill the banking system. However, it is quite possible to exist together. For example, bank transfers small amounts by common methods and transfers by blockchain of large amounts. However, everything depends on the cost of the commission. This is the only thing that interests the average user. Where the commissions are cheaper there will be all the money. If banks are able to compete, then they will not go anywhere.

[Blas]

I am wondering how will block-chain kill the traditional banking? If the block-chain technology become so popular, then the banks will find a way to make it work for them. They have been around for centuries, they have all the money in the world and all the influence they want. The best we can hope is change the world a little bit, because if we try to change it completely, we will lose for sure.

[go4crypto]

Only time will tell if blockchain will kill old banking sector or gets adopted by banks and makes all their processes efficient. It will take years before any major changes are there.

[letningmequin]

I think the traditional bank will not be killed by the blockchain.

[El_rancho]

I think it will not kill traditional banking, it may compete with it though. In terms of popularity and
the amount of people investing and participating. It's too early to speculate but on a personal note
I believe a lot of traditional bankers are gonna make the transition to cryptocurrency, it favors them
having exceptional knowledge, skills and connections. They might have already done so, doing both
at the same time. Blockchain and traditional are almost identical in concept but are in 2 different
worlds with the technology and system implied and utilized.

[derdemo]

Blockchain technology its future. In banking industry blockchain will make revolution and transactions become fast and cheap.

[Cimmy_revenger]

of course , everyone want to freedom for finance .
everyone want to government dont know about finance netizen.
because blockchain have system open source.

[CoPil]

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.

It will not kill traditional banking now or in the next few years... well, probably in the future (since we cannot close that kind of idea), when the people are ready to welcome innovation and entertain change after they realize that blockchain is a lot better than traditional banking. But it would be really hard since private companies will not tolerate for such change to happen. But as people began to be more fond of digital cryptocurrencies and transaction online without those fees and the bank involved, well probably crypto may kill traditional banking little by little.

[commanderbitcoin]

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.

Blockchain will not kill the banks because they will adopt in  the technology but other altcoins and bitcoin will take a big chunk in financial sector. As  matter of fact Ripple and Stellar Lumen is one of their steps towards blockchain technology.

[Painbird]

I think  yes,blockchain is a open source platform, that's why now everyone want to use blockchain technology. so that it is predicted blockchain kill traditional banking.

[ngalamunan]

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.

to kill traditional banks I do not think because the bank will adjust or even cooperate and certainly the bank will follow the development

[Semar Mesem]

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.

to kill traditional banks I do not think because the bank will adjust or even cooperate and certainly the bank will follow the development

I do not think that for that reason, banks will continue to exist because they get protection from the state, all countries think banks are a very important institution to improve the economy.

[valnd]

In my opinion It will not kill the traditional banking. I think the both will co-exist and work together  with the   traditional banking serving as off chain

[avia]

TRaditional banking have been around for eons and have evolved and improved over the years, as technology updated, so as the banking system. With such thought, i don’t think blockchain will kill traditional banking. Moreover, traditional banking serves and reaches more people than blockchain does since the latter is a bit limited to the digital world.

[kiw_91]

Blockchain is a meere digital currency free from the centralization of local laws. However, there are still need for a banking institution in our daily lives. Loans, capital investment, business support etc. Banking is a necesscity in the current economic landscape. However, i would say, blockchain will work hand in hand with banking in the future. Not kill traditional banking. Banking will evolve and adapt blockchain.

[chokomenia]

I don't think so, I think with time the both will find a common balance or better still our traditional banks will move to implement and adopt their own blockchain to serve solely for banking industries and I see that happening in the near future.