Is banking still important in the bitcoin era?

[emath7]

   Many things have changed with the discovery of Blockchain and CryptoMoney. Remittance transactions can now take place without intermediaries. And in seconds. When you want to send money from one point to another, there are no unnecessary legislations to wait. Send it whenever you want to send it. Country boundaries for transfer transactions remained. Transfer from one continent to another can occur within seconds. You can also keep the money in your wallet more securely. These are the facilities provided by the blockchain technology.
   Everyone is curious. What will be the future of the banks?
   It is useful to give an example. You should study the KoraNetwork project, which is based on Blockchain infrastructure. This project constitutes the decentralized banking sector in the blockchain infrastructure ...
   Traditional banks have run out of life. There are two ways in front of them. They will either adapt to the new order, or they disappear ...

[Timok Abiodun]

Earlier all the monetary transactions were enabled through central banks (directly or indirectly). Now, with the evolution of Bitcoins, the scenario has changed. The power that was vested in the governments and central banks is shifting to the masses. This revolutionary change in transaction handling has the power to change the economic structure. To bring security and enable scrutiny, central banks and financial institutions maintain a record of all the transactions undertaken by the people. Now with digital currencies, this economic power can be challenged by people. This has led to the creation of a new autonomous body which can facilitate transactions. Ultimately if adopted on a large scale, Bitcoins can lead to the politicization of money.

[Playmode Kreative]

ooh yes.... banking is still kinda important... There have been implications that Bitcoins can be used to secretly launder money outside the country. Central banks across the world have been wary of Bitcoins as an uncontrollable and unpredictable form of currency. Cryptocurrencies are leading to loopholes in the current bank’s data about the money transactions leading to inability to track economic activities. Crypto and Cyberspace has emerged as a power in itself thus bringing a check on the activities of the so powerful governments.

[Vladv26]

Banks are still very important in this era because hundreds of millions of people use them everyday to receive their salaries there, to send money worldwide, to take credit cards and use them for shopping. Actually there a lot of people that don't own a credit/debit card since banks are still doing a lot of promotion on TV or internet and on billboards on the street. So banks will survive for a very long time because they have lots of customers and not many of them are going to choose bitcoin instead of a bank.

[chaoscoinz]

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

The banks are here to stay, in my opinion, I think Bitcoin needs the banks to survive right now. Without the help from the banks, Bitcoin falls flat on its face in it's current state.
   People need to be able to trade their crypto into fiat, because most of their life depends on using it fiat to buy groceries,  pay rent or mortgage, buy gas, pay bills and utilities, etc.

[Udrujec]

I don't think bitcoin can replace banks. It can be a great alternative for some money transactions, but we still have loans, mortgages, etc. Therefore, banks will remain.

[bitvelk]

I believe that crypto-currencies can be part of banks, and it will be a different organization, banks of a new generation. We are always waiting for some rivalry between them, but why can't they coexist together?

[taeewo]

Banking will still always be relevant and i think with time many banks will adopt the use of blockchain technology

[boled]

if you look at the current state, where 90% of crypto players, bitcoin owners, market, etc. rotate its assets to earn profits in the form of real currency. then I think the Bank is still very important, either as a medium for widraw, daily transactions (shopping, installment payments, paying electricity, etc)

[nick_nick]

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Bitcoins must still be used alongside fiat money. Thus, the advent of cryptocurrencies will not shut banking activities; however it rather facilitate easy flow and smoothness in the financial system. We should'nt forget that not all people have the know to transact with cryptos and also banks offer other auxilliary services like store of valuable items among others

[Lomberjack]

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes. Banks are still important and really that valuable even at the Bitcoin era because here in our country, we still need the existence of our banks who funds out cash for the exchange of our Bitcoin into our regular currency because cash is still the most valuable type and widely accepted currency. Also, banks are not just for the saving of our money but also the national bank of a country makes researches and study well the new rising currency if it will be suited to be implemented or safe to be used by its people and together with the government, they do such decision making if such currency will be accepted or not in a state or country. Also, many people tend to use banks because of the other services offered that was not at the scope of Bitcoin's provided benefits.

[fbastage]

I think that the banks will not disappear for quite some time, It will take quite a long time until the banks disappear because of uselessness, but while they are important!

[SabrinaBianka]

Important or not, A lot of people trusting on banks. Are the best investor of bank. So real investor on the different bank don't care about the new technology. For me they was thinking about crypto but not means they want to left on the bank and take it all their money and invest on cryptocurrency.

[Sar elok]

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes. I think the banking world are still needed even though bitcoin will overwhelm the world economy in the future. Mainly loans

[Pan Troglodytes]

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes. I think the banking world are still needed even though bitcoin will overwhelm the world economy in the future. Mainly loans

Loans and other services, like emmission of bonds and that includes both corporate and governments bonds, and all other corporate services, that obviously cannot be realised with the use of Bitcoin.

[niisarearning]

I dont crypto currency ruyn without banks most of the people how much they scream against traditional bank . Finally they have to rely on bank for getting their crypto currency profit or earning . I think both are important . Banks are old system . Crypto currencies are new kid both has to be treated with respect.

[dianepot]

Of course. Like us we are still using banks when cashing out our money from our online wallets. Keeping your money on a bank is a more safer than just storing it in your online wallet. Banks technologies are great. They also go with the flow. What is in trend they'll also follow. Maybe they'll also implement blockchain wallets so they wont be left behind.

[vonnyaries]

bank is very important right now, i dont know about future but right now banking is very important, why? bank in a country have a job that makes sure the circulate of money in that country, make sure that the circulation is good, not to much ( inflation ) or too less ( deflation ) and i think right now without bank the bank have a bad economy. so bank is importand in a country

[Standon1]

Yes banking is important without banking how will you buy your bitcoins??

[klebsiella]

I do believe that banks are still important even if there's this bitcoin and altcoins. Despite the advancement of technology particularly the blockchain still there are people around the globe that doesn't recognize this cryptocurrency. Even in this bitcoin era, we are still using fiat for our daily transactions.