Can blockchain change financial industry?

[commander11]

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

In the near future, this was likely to happen when every institutional and conventional company embrace blockchain technology. As of now, we cannot feel the difference because there are only few who develop blokchain in its platform including google, IBM, microsoft and Silicon Valley. I think this will eventually grow in 2 or 3 years from now.

[Titonioii]

Blockchain can definitely change the financial industry. Blockchain technology has the potential to make a lot of inefficient processes cheaper, easier and safer.

[RXKING]

In the future, Blockchain technology will have many applications in relevant industries, not just the financial industry. It can be said that Blockchain technology is a breakthrough to transform the financial industry. Blockchain creates a transparent business and faster transactions. It's safer to store data on a blockchain system because the data is scattered in many places and can hardly be changed.

[bitivan]

I have no doubt about it. Blockchain has very bright future and many people, companies and even countries admit this fact.

[jjdub7]

Theoretically, the blockchain can do this, but no one knows how long this will take in practice. The old financial system will not simply replace itself, it will try to take control over crypto currencies.

I agree with you. The old system has control over the world and will not give it up easily.
I think that the best chance we have to change the financial industry is to collaborate with the existing system and try to change it piece by piece.

[jackmoon]

Block chain has the strongest adaptability in the financial industry. I believe that all sectors will use block chain technology to maintain the corresponding system and data.

[Milla Komani]

I'm sure that Bitcoin and Ethereum will be able to replace the entire financial system sufficiently. I think that this will begin to happen through 5 tapes.

[artemdubina88]

Absolutely Yes ! I believe that this technology allows us to open new horizons in our future and even now ! With its transparent and clear functions !

[nipunjay123]

answer is YES, I think it already done by the blockchain and it will change further more in future.

[last7minutes]

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

Blockchain is changing financial area yet. And for me it is very interesting to be a witness of new era in financial industry. I believe that blockchain will change not only finances but also many other spheres of society.

[Balorck]

Yes, I completely agree . everything is just a blockchain that is gaining popularity only because people need it . If there was no need for it, there would be nothing

[castiloros]

The blockchain is a technology with a good and transparent system. It's nice to be applied in a wide variety of industry and not just about crypto only. with technology from Blockchain then this will be a revolution for the industry to become even better in the future. even today many once who adopt this Blockchain in the development of their industry in a variety of fields.

[newuser20]

This technology is already changing the current financial industry, and there are companies that adapt to this and use it and there are companies that try not to do it and eventually lose.

[eaLiTy]

Many people say that the blockchain will first be used in the financial industry because it is very suitable for it to use. However, there are still too many performance bottlenecks in the blockchain that prevent it from being used in large quantities. Can only be used as a low frequency transaction.

There are some bottle neck situation when it comes to scaling but that will change with time, there are many ideas being thrown out and i hope we will be able to scale like visa in the future, even now it can be used for big transactions worldwide without any hassle but the real win comes when we are able to scale on a level when the entire world can transact on a daily basis.

[bizzargin]

I think so, but it won't happen as fast as many people think. While the cryptocurrency market is highly volatile, large corporations will not use them in large transactions.

[Underw00d]

Blokchain is already slowly changes the system. Recently, some of the countries of the European Union signed an agreement on the development of blockchain technologies. This thing is so universal that in a few years it will be introduced into the existing financial system.

[Nikolas_the_Wonderworker]

The financial system of any country includes the formation and expenditure of different types of state budget. At the same time, the use of blockchain technology will counteract corruption schemes, which will give impetus to the development of the economies of countries. Someone will not like it) But to resist the offensive of the blockchain is already useless))

[happy weblancer]

I am sure that the blockchain can change any industry, not only financial. And by the way, many projects are implementing blockchain in the financial industry: online banks, the maintenance of accounting for business, the conduct of business for private entrepreneurs, investment funds. Even charitable projects, which are also connected with accumulation of funds, are also trying to introduce on the blockchain. And in the near future, I am sure, will implement.

[vanan]

Yes, blockchain will definitely change the financial industry as it keeps things transparent enough for the public to track.

[ganlianshifu1]

The blockchain will greatly reduce the settlement time of funds in cross-border payment, and also reduce the amount of cash and guarantees undertaken by financial institutions, thereby reducing settlement risks!
This is especially important in international transactions, as these transactions take several days to complete compared to traditional bank transfers, but blockchain technology can be done almost instantly.