Banking is Dead… Long live Blockchain Banking!

[carlisle1]

Banks now are starting to adapt blockchain a technology for them to ride to the future

I have read some threads here on forum about banks that getting nearer to accept reality

I am wondering crypto and banking sooner will work together to produce good service to the people

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[Ilegendph]

Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.

Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now.

Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere.

A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes.

Good for them and their customers!

As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone.

There are banks that integrates this technology to their services and it seems that it will become more powerful than any other financial system had built. They can lower their service charge without losing income and attracts more customer.

[evforster]

Banks now are starting to adapt blockchain a technology for them to ride to the future

I have read some threads here on forum about banks that getting nearer to accept reality

I am wondering crypto and banking sooner will work together to produce good service to the people

Block chain is a great technology while allowed people to send money world wide without any giving data, identify also its give you opportunity to send money anonymous.Fast transaction, Low fee, no tax.

[NeoMyHero]

Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.

Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now.

Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere.

A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes.

Good for them and their customers!

As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone.

There are banks that integrates this technology to their services and it seems that it will become more powerful than any other financial system had built. They can lower their service charge without losing income and attracts more customer.

Bitcoin can helps you to increase your holding coins in short time and include low fee where banks takes some months to give you benefits and applied charges when you're sending your money.

[Dilerium90]

My opinion is that banks will live for a long time. Although they have an old system, but it is very well established and the guys from the banking system will not give up so simply a piece of the pie in favor of the technology of blockchain.

[Nanot]

Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.

Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now.

Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere.

A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes.

Good for them and their customers!

As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone.

Yes banks now are not too trend or know now since many blockchains are created so that many people invested in blockchains to make their money more in a short period of time so that many people does not go in the  banks because thier money does not be more as what you can get in the blockchains. So nowadays blockchains is better more than banks.

[Impulseboy]

Although I agree that blockchain is better than traditional banking, I do not know if it can end banking, simply because it has been around for a long time and people are used to it. I would not doubt that cryptocurrency is only going to grow, however, making the obsolete may be a stretch.

[Ganbound]

Banks can not afford increasing expenditure of the old technology anymore they will have to adapt to the change.

Talking about technology and banking, Blockchain, will disrupt the financial domain with certainty. Much has been discussed, debated and discussed about this distributed ledger, both online and offline. So this innovative technology does not require a special introduction at this time. Calling it 'annoying' is a disparaging statement. To understand what a blockchain is, look at bitcoin or cryptocurrency. It has achieved many 'never heard' scenarios in the financial domain. Since technology has been introduced in the banking world, experts are always struggling to create safe and secure means of transactions. A person must go through a third party application or an intermediary or regulatory body to transfer money. But here is the digital currency - completely unfocused - and has broken all conventional banking laws. Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now.

Believe it or not, blockchain is a breakthrough technology that can be applied to your domain-name. From agriculture, aviation to supply chains, finance, and the food industry, blockchains are everywhere.

A lot of organizations around the world are already experimenting with this technology. Major financial organizations such as the SBI Holdings, Goldman Sachs and Citi group have already invested in blockchain. Back home, the State Bank of India (SBI) has grand plans in place to use blockchain for a number of processes, including the KYC system. South Indian Bank seamlessly carried out an international transaction using this technology. ICICI, YES Bank, Bank of Baroda, Axis Bank and Kotak Mahindra are some of the few banks that have hopped on to the blockchain bandwagon. While some banks are experimenting with this digital ledger and achieving impressive results, some financial institutions are gearing up to reform and redefine huge chunks of their banking processes.

Good for them and their customers!

As far as my bank is concerned, I recall reading this article which showed that out of Fortune500 in last 50 years, 84% of them are dead today. In the next 10 years, I am happy to predict just a few banks will remain in Fortune 500. Most financial institutions will have either absorbed blockchain tightly OR they will be gone.

The funniest thing is that after saying all these rubbish, if we check, you still have a bank account and you’re still making a transaction with it and going to the Bank ATM almost everyday. Dude, stop all these, it makes no sense and is helping no one.

If you think bank is over, then move all your money into Bitcoin and won’t be sorry for you when you will end up a complete loser. Blockchain is not beating banks in anyway, and Blockchain wasn’t made to replace them, it’s just a way of making payments and investment.

When bitcoin is giving you these advantages why we use banks. I think bank futures are not bright they'll dead when everyone move to blockchain.

[Andrew S]

Banks are like cockroaches, they will always find a way to survive in our world.  They do not even need to worry about them.

[TheClownSong]

I am doubt banks will dead. Banks is old finance institution and banks always survive in any condition. Banks will adapting on crypto era by using blockchain on their platform and with blockchain, banks will save a lot cost

[Silberman]

Banks now are starting to adapt blockchain a technology for them to ride to the future

I have read some threads here on forum about banks that getting nearer to accept reality

I am wondering crypto and banking sooner will work together to produce good service to the people

But the problem for banks is that we do not need them, if banks at some point accept bitcoin deposits why will I use them? The chances that I get hacked will be lower than the chances they get hacked because I do not have a big target in my back unlike them, they are going to lose many of the coins of their clients and whatever business they are trying to create around bitcoin will fail because of it.

[chaoscoinz]

I admire your electric enthusiasm, but this statement about banks is quite silly my friend. Banking will never end, it will only gravitate towards more conventional means to ensure its survival, like the blockchain. Without fiat being available for exchange, Bitcoin and all the alternatives become useless, at least for the average joe, whom I believe the platform has yet to reach and may be key for a wider scale adoption.
   Until everyone (including grandma) is able to utilize crypto effortlessly, it won't reach mass adoption. The interface must be made so simple, that a child could use it, then every day Joe's will start to indulge upon its use.

[Mikado_]

I don't think banking is dead.

Most people, if not everyone, needs a bank for ordinary financial transactions and loans.

Cryptocurrencies are a small niche, and not everyone has the abilities to manage crypto assets.

[Indai24]

I don't think banking is dead.

Most people, if not everyone, needs a bank for ordinary financial transactions and loans.

Cryptocurrencies are a small niche, and not everyone has the abilities to manage crypto assets.

Banking will never be dead because it's the most reliable and trusted by the people. And everyone feel safe about it however the return is too small unlike with crypto though it's risky but the return is so high.

[erikoy]

I do not understand why we need a block chain banking system? Literally block chain is not a form of any banks wherein you could store your crypto instead it is public record of every transaction being made. There is no under the table on doing the transactions. THis is why we should promote block chain on those banking system to avoid any doubts on the transaction process that includes also on government agency wherein money transactions are being involve. THe government should implement block chain to avoid corruption.

[BlueStackz]

Although I agree that blockchain is better than traditional banking, I do not know if it can end banking, simply because it has been around for a long time and people are used to it. I would not doubt that cryptocurrency is only going to grow, however, making the obsolete may be a stretch.

Well this not possible for Bitcoin to out date banking sector because of the fact that banking are the financial institutions run by the government and which performs the jobs for the government. It creates credit; the process of credit creation is very important in advancing loans and giving way to new investments.

Besides, banks perform certain jobs that cannot be performed by Bitcoin alone.  So there will still be a need for banks and that is the reasons banks will stay alive.

[Opnsrc]

Banks now are starting to adapt blockchain a technology for them to ride to the future

I have read some threads here on forum about banks that getting nearer to accept reality

I am wondering crypto and banking sooner will work together to produce good service to the people

I have also read about it. Anyway, I am not sure that the blockchain and cryptocurrencies are going to ruin the banking system. I do believe that they will coexist. There is nothing to worry about.

[v3liana]

Well its still takes a lot time for blockchain bank to emerge but there is good sign thay one of the biggest bank common wealth starting to provide blockchain services for enterprises. Blockchain is really good for bank system and soon all bank in the world will use it.

[Betwrong]

Banks now are starting to adapt blockchain a technology for them to ride to the future

I have read some threads here on forum about banks that getting nearer to accept reality

I am wondering crypto and banking sooner will work together to produce good service to the people

I agree. It is more likely that established structures like banks will adopt to a new reality rather just die. Maybe in the far far future banks will disappear completely, but hardly this will happen during our lifetime. That's not a bad thing btw because if banks were surely doomed, they would fight aggressively against blockchain technologies, but what we can see, especially in more recent times, only a few veteran bores are doing that. The future of blockchain technologies and crypto currencies overall is bright and banks' CEOs are not so stupid to not know it.

[BaraxLo]

Although I agree that blockchain is better than traditional banking, I do not know if it can end banking, simply because it has been around for a long time and people are used to it. I would not doubt that cryptocurrency is only going to grow, however, making the obsolete may be a stretch.

Well this not possible for Bitcoin to out date banking sector because of the fact that banking are the financial institutions run by the government and which performs the jobs for the government. It creates credit; the process of credit creation is very important in advancing loans and giving way to new investments.

Besides, banks perform certain jobs that cannot be performed by Bitcoin alone.  So there will still be a need for banks and that is the reasons banks will stay alive.

Exactly this is right. One thing I would love to add that even if Bitcoin outdate the banking sector, the fiscal and monetary policies will no longer be effective and instrumental in controlling the unemployment and inflation in the country and the Bitcoin along with bringing easiness will also bring a havoc that will be difficult to stop. So it is very important to maintain a balance between the fiat and Bitcoin and government regulations in the Bitcoin might lead to a progressing economy.