Banking is Dead… Long live Blockchain Banking!

[wahyu wida]

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.

Yes that is true that banks will continue to survive for a long long time. I do not think that banks are going to quit so soon, because still majority of people are using banks for their main purposes. They are using bitcoin only as optional.

i think the bank is a government relationship and a financial support for a country, so i think conventional banks will still exist, and government will not leave it. even though bank system is changed to blockchain

[ParkSaezz]

I bank with one of the largest banking institutions and I cannot wait to not need them anymore. We're almost there. Just the other day, I was trying to send funds to someone using "QuickPay" and received a message saying it required internal review. Not so quick. I've been banking with them for decades.

[Dinomoves]

I don't believe that Banking is dead, Banks are very alive still in our country. Maybe soon but it will still took a lot of time and years to close fiat banks and switch to blockchain banks... it will still be in the future- long way.

[Nnedaddy1]

Banking is not dead and it can never die.
We need to understand that banking has its functions to the socioeconomic development of the globe,  so also cryptocurrency

Banking can not function as a cryptocurrency vice versa.
So we need both

[phandiep]

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.

Yes that is true that banks will continue to survive for a long long time. I do not think that banks are going to quit so soon, because still majority of people are using banks for their main purposes. They are using bitcoin only as optional.

i think the bank is a government relationship and a financial support for a country, so i think conventional banks will still exist, and government will not leave it. even though bank system is changed to blockchain

With the support of the government, the banking system will last forever until government domination ends, the blockchain will not have the opportunity to enter, although it is new technology but the government is very disgusted with it. So you can stop the dream of bank blockchain right here, you have sank so long in the blockchain and crypto world, it always makes you think blockchain is very important to the world but you probably do not know that most people in the world do not care about it.

[tanxpresisit514]

yes you are right for the development of technology and the more technology is created like this digital currency, the people who save their money in the bank will be very little because there is the safest, most convenient method of storing money and can get very many benefits like this cryptocurrency .

Logically, conventional banks will not die, because banks continue to play a role in running money circulation nationally. In addition, under the control of the central bank, banks are safer for storing large amounts of money. Bitcoin is indeed safe and convenient for its users because they are mostly highly educated, while from a society that has a low education in a conventional bank it is still safer and more comfortable.

[ShadowBits]

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.

Banking is dead? Nah! Banking is so essential for many people who can't afford to buy things they want in cash. They often need banks for loans and other benefits. Hope you could understand more to it.

[wingsthegreat21]

From my own perspective, its basically hard to terminate this banking system since cryptocurrencies like bitcoin has so many issues to deal with and currently these developers are unknown. So many accusations the bitcoin is used to fund terrorism, slow transaction, energy consumption, anonymous dealings and creating room for scam projects although, financially, bitcoin is doing awesome at its best but some issues that draws the coin back from its potentials must be dealt with and must be focused on getting its highest potential worldwide.

[setialovers]

I do believe bank will not dead even cryptocurrency growing more bigger. Banks have many bussiness and banks already have many experience in many crisis. I think banks will survive and maybe adopting cryptocurrency and blockchain technology

[Ezenwanyi]

Banks can be likened to be a kind of fuel in the car of any economy, so it's a very necessary establishment in any economy.
Governments cannot run smoothly without banks...
So I believe banks cannot just go into extinction
On the other hand, blockchain is still in it's early developmental stage and so -as many huge potentials and untapped markets and it will continue growing.

[zhanyiguai261315]

The nature of the blockchain will change the core principles of the financial system; because of its security, transparency and non-tamperability!
The application of blockchain technology will open up the possibility of subverting the rules of the banking industry and possibly reshaping the entire industry landscape.

[virasog]

I don't believe that Banking is dead, Banks are very alive still in our country. Maybe soon but it will still took a lot of time and years to close fiat banks and switch to blockchain banks... it will still be in the future- long way.

Banking will be dead one day. Although at the present time, it is difficult to admit this but sooner or later, bitcoin will replace the overall banking sector and there will be no more bank to carry out financial  transactions.

[trauchot]

Banks also do not stand at one place and are constantly improving their technologies and many banks are already experiencing full blockchain technology because they understand that the blockchain has a future, so most likely banks will not disappear, and they will simply improve their capabilities and services with the help of blockchain and technology this will happen very soon because each bank understands that it is necessary to change faster because then it may be too late.

[zeingrind777]

Blockchain technology has changed people's lifestyles and changed the old bank system to be modern and very easy. Fast delivery and high security are systems that are in demand by modern society and that can be done with blockchain technology. I strongly agree if the bank doesn't adapt and uses the blockchain, then the bank with the traditional system will soon die.

[UchihaRukawa]

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.

In my opinion, banks and cryptocurrencies are two different things, But, I think it is best to use both crypto and banks, I can see many threads saying that cryptocurrency will kill banks, but I think banks are gonna remain and will be used together with cryptocurrency.

[Rashid555]

In the present time no other industry can perform the functions of banks and it is true that now most of the profitable businesses is in banking industry and those who are saying that banks are valuable to them they are mostly business man and large scale enterprises because their payments their flow of funds from suppliers to businessmen and vice versa.

[Ahimoth]

In the present time no other industry can perform the functions of banks and it is true that now most of the profitable businesses is in banking industry and those who are saying that banks are valuable to them they are mostly business man and large scale enterprises because their payments their flow of funds from suppliers to businessmen and vice versa.

In the future possible Blockchain will be used system but still its depend upon the country if they accept or allow it. Also I think banking is not easy to die because many people are still prefer have bank than blockchain banking. For me it still better if both of them are still around, it can only innovate and develop so that people can choose what they want to used because not all people are interested in new trend about technology.

[Gheka]

Blockchain technology has changed people's lifestyles and changed the old bank system to be modern and very easy. Fast delivery and high security are systems that are in demand by modern society and that can be done with blockchain technology. I strongly agree if the bank doesn't adapt and uses the blockchain, then the bank with the traditional system will soon die.

Blockchain is truly a technology that offers very good and modern features than traditional banking but we still have to keep in mind that this technology is not perfect yet, it still has many bugs that hackers can exploit and attack, and with such problems, I do not think that blockchain can be applied and replace the old bank system. Everything is just in the research and testing process, blockchain technology is still not officially appear in the banking system, Blockchain banking is still a dream and a distant future for all of us

[FunGate]

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.

[usticiann]

Banks had a stranglehold on the world's economy. Now thanks to blockchain. liberation is in sight. The common citizen is now going to be free of the tyranny of banking. That's a great thing.