Banking is Dead… Long live Blockchain Banking!

[nur rochid]

Once it's socially accepted and risk-free to make crypto transactions, no one in their right mind would stick with traditional banking systems.

You have little control over your hard-earned money and very little financial privacy or freedom. Various people can know exactly how much you make, what you buy and these funds can be seized by governments. Also expensive to make foreign transactions!! Not too practical in a globalised world.

unfortunately at this time there are still many governments that think like that and take action as you think. the government seemed to protect the bank, for the continuity of their economy

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[gabmen]

Once it's socially accepted and risk-free to make crypto transactions, no one in their right mind would stick with traditional banking systems.

You have little control over your hard-earned money and very little financial privacy or freedom. Various people can know exactly how much you make, what you buy and these funds can be seized by governments. Also expensive to make foreign transactions!! Not too practical in a globalised world.

unfortunately at this time there are still many governments that think like that and take action as you think. the government seemed to protect the bank, for the continuity of their economy

And it will continue to do so. I don't see governments taking crypto over conventional banking anytime soon. And banks know that crypto, if it gets mass adoption,  will remove their stranglehold over the people. But banking is far from dead and would probably continue to be the main system for a long time.

[niublity]

This is the wrong view, I don't agree. The banking industry will not disappear, and the blockchain is just a new technology of the bank. The cryptocurrency cannot affect the traditional currency. Banks can easily master blockchain technology, which is not a problem for them.

[paparexon0414]

I guess not. Banks will not let this happen. If blockchain will be very useful and be worldwide use, banks will just adopt this new technology and innovate a new way how to use it more effectively. Also most of the people still seeking the traditional ways of banks because the are sure about the security of their money with. Let be honest, blockchain can still be penetrated by hackers because its still have its own weaknesses. But blockchain is still the future of banking and money.

[Adhichan]

This is the wrong view, I don't agree. The banking industry will not disappear, and the blockchain is just a new technology of the bank. The cryptocurrency cannot affect the traditional currency. Banks can easily master blockchain technology, which is not a problem for them.

maybe by using blockchain technology, we will see good collaboration between existing system on bank and blockchain system.bank could save more operational cost , and it will make their profit bigger than before.

[BagzMM]

I think for now, it will not happen for we know banks are in the system of any government. It has a strong foundation. Maybe blockchain banking will evolved by it will not defeat  banks as of now.

[Pattart]

Once it's socially accepted and risk-free to make crypto transactions, no one in their right mind would stick with traditional banking systems.

You have little control over your hard-earned money and very little financial privacy or freedom. Various people can know exactly how much you make, what you buy and these funds can be seized by governments. Also expensive to make foreign transactions!! Not too practical in a globalised world.

unfortunately at this time there are still many governments that think like that and take action as you think. the government seemed to protect the bank, for the continuity of their economy

And it will continue to do so. I don't see governments taking crypto over conventional banking anytime soon. And banks know that crypto, if it gets mass adoption,  will remove their stranglehold over the people. But banking is far from dead and would probably continue to be the main system for a long time.

The bank will last a long time even I don't think that the bank system will be replaced even though the cryptocurrency and blockchain system are popular. The government as the holder of power certainly has a different system than the blockchain, the government wants full control and it is not given by blockchain..

[airdropcoin]

This is the wrong view that the banking industry will not die unless humans no longer need any form of trading. The banking industry is the greatest industry, and cryptocurrency is just a new product of finance. It cannot go beyond the banking industry. But the cashless society will come soon. The cryptocurrency and the bank will exist at the same time.

[wxa7115]

It seems to me that people are really underestimating the capabilities of banks to adapt and to deceive people, if people were very smart they would have adapted bitcoin already or they never would have given the chance for banks to get as powerful as they are, so I really think that many are giving them too much credit, many do not care how the system works as long as they are doing reasonably well and they are not willing to try to change anything as long as that remains true.

This is why adoption is so slow, people do not really see a reason to adopt cryptocurrencies if they are doing well and they are only going to try to change the system once things begin to crash so the disappearance of banks, if it happens, will happen because of the mistakes of banks themselves.

[Harlot]

How can bank corporations die if they already have a big start? If you are thinking that with the addition of cryptocurrencies their businesses would shutdown it wouldn't as their main business is still untouchable. Banks are more than capable of sending and receiving your money as their main business is about lending out loans to people with interest so I don't see how cryptocurrencies could affect that. Their customers are also multinational corporations so businesses like that borrowing money from banks is assured will be paid back. In terms of income they won't be affected as much as you think.

[Pab]

Yes long life but first has to  be born
except few ico what took lot of money from people there is not any blockchain banking
Banking is banking if will be bank what will use blockchain than we will have blockchain banking
As for now there is no blockchain bank on that earth

[pinoyden]

banking or banks is not dead infact banks are still the ones that are being trusted the most by the public when compared to cryptos or any other form of alternatives but many of us are starting to think that  blockchain banking are more secure and trusted because they are held online without single authority controlling them  . the only problem is that it isnt really popular  for now but we will never know in the future  .

[jcpone]

The current banking systems that we are having right now will surely stay for very long time even with blockchain technology in place. These institutions are well established already. While blockchain is encountering a very challenging period this year.

[2chase]

I think that we all very much underestimate bankers and banks, it’s foolish to hope that the emergence of Bitcoin could lead to the fact that the banking system in the form in which we know it will collapse. Bankers have long been the owners of many of the largest some cryptocurrency exchanges, and therefore it is they who now set the tone for this whole game.

[Douglasyukanov]

I think for now, it will not happen for we know banks are in the system of any government. It has a strong foundation. Maybe blockchain banking will evolved by it will not defeat  banks as of now.

the government has not been able to recognize the blockchain system as a whole for certain regions, some countries have begun to seriously adopt the blockchain system for their banking even more so including online trading services that have worked with many trusted cryptoTheir juristical regulations have been legalized by a number of world banks, so just wait a little while for the blockchain to enter the world market thoroughly, especially developed countries.

[jambul_kribo]

The current banking systems that we are having right now will surely stay for very long time even with blockchain technology in place. These institutions are well established already. While blockchain is encountering a very challenging period this year.

blockchain and banking have their own function.many function bank that could not replace by blockchain .blockchain just a system that could not operated as subject.bank was company that has many financial usage.such as place to save our money, distributed the loan.and also support the country developtment

[dimox]

"Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way,"

and maybe just in some country. bank is always lead for now, but will never know in the future. its hard to replacing bank, not all people know about crypto, and they will choice bank because they think bank is easier than crypto.
is there some party that always want to control  crypto in their hand

[Prettymie]

Cryptocurrency should consider first on how to go mass adoption before we can make a statement that banking is dead...price volatility in crypto is high if this problem will not take any action this will make people hesitant to adopt crypto. In other side, banking has been in the system for many years and they have the support from the governments and defeating them is not an easy job.

[mornabo]

I guess not. Banks will not let this happen. If blockchain will be very useful and be worldwide use, banks will just adopt this new technology and innovate a new way how to use it more effectively. Also most of the people still seeking the traditional ways of banks because the are sure about the security of their money with. Let be honest, blockchain can still be penetrated by hackers because its still have its own weaknesses. But blockchain is still the future of banking and money.

these two systems have a big difference, how will banks adopt the blockchain? innovation will definitely happen to banks, but it won't be like a blockchain that prioritizes decentralization. after all the bank is not dead, we are still dependent on the bank until now

[PlusOne88]

This seems to be a good idea but as of now during this times when the market is unfavorable, I think the market is not that good for holding bitcoin and other cryptocurrencies. There might be problems with the values of the coin. Not unless cryptocurrency banks can guarantee a no price fall set up. Yet I think this is no possible unless banks would connect to the real value of dollar  as reference so that bitcoin holdings or deposit may vary but the actual value will not and will stay the same even if price of bitcoin drops.