What would happen to banks?

[huu78]

I think is the same as yours. It is unlikely that Crypto will take overpayment from the bank. Because the crypto is anonymous while the bank is not.
Crypto may be large but can not replace the bank in the future.

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[asus09]

Bank become first saving money and thousand transaction kind have been in Bank with thousand member, if crypto popular with higher price bank never could be replace by bitcoin or altcoin. Bank keep exist and never change with everything new in the world, but working bank and bitcoin or altcoin is possible because bank and bitcoin have the same vision how to increase our money.

in my opinion the bank is the financial controller in the country and the bank will not disappear certainly the bank will follow the changing times and technology if it cooperates with crypto currencies of course there will be a development of a better banking system and transparency of course along with the development of the era and technology

Bank have power full to control how condition of some country and never can't replace by crypto, bank can manage how sending and receiving government money when they sent to other country, bank become loan place for many people want to build their business and give several percent fee after payment end, bitcoin maybe need regulation how accepted by country if keep exist with stable price and not make investor loss with bitcoin price down.

[Webetcoins]

I think is the same as yours. It is unlikely that Crypto will take overpayment from the bank. Because the crypto is anonymous while the bank is not.
Crypto may be large but can not replace the bank in the future.

Neither banks can replace crypto currencies nor are crypto currencies going to take over banks completely. We shall rather try to somehow join both together in a system so that maximum people can use both. If banks start offering nice profits over holding bitcoin or other popular currencies in them, definitely banks are going to have massive increase in customers.

[BennyK]

The future of Banks is quite clear looking at the trend with which clients are opting for more convenience. The digital and mobile banking will revolutionize the entire banking sector and here, since many cryptocurrency users will be available, the banks will then integrate cryptocurrency into their services in order to meet the needs and expectations of their customers.

[nasipadang]

Yes, rather than fight, it's better to take advantage by working together. The most viewed functions of banks in the future are loans and deposits, both of which have always been of interest to the community. So that the bank will not go out, it depends on whether the bank intends to visit digital currency technology or even adopt it.

[Tylev]

Banks may not respond at all to the emergence of cryptocurrencies and nothing will happen to them, because the banking system is fully protected by the state. However, banks will use cryptocurrency in the event that it is beneficial to them. With the advent of cryptocurrency, banks will lose a little in the number of their customers and nothing more. However, they will have enough work and they will receive no less profit.

[Oneandpure]

Bank become first saving money and thousand transaction kind have been in Bank with thousand member, if crypto popular with higher price bank never could be replace by bitcoin or altcoin. Bank keep exist and never change with everything new in the world, but working bank and bitcoin or altcoin is possible because bank and bitcoin have the same vision how to increase our money.

in my opinion the bank is the financial controller in the country and the bank will not disappear certainly the bank will follow the changing times and technology if it cooperates with crypto currencies of course there will be a development of a better banking system and transparency of course along with the development of the era and technology

Bank become most profitable for country where they can sent money from one region to other region for government support, without have bank government look hard how to manage country controller, althout for the future crypto have famous and use by many investor bank still exist needed by government and many institution need bank for using as saving money and loan money with the bank.

[yulionoo]

yes I agree with you OP even though cryptocurrency has been adopted en masse. the bank will still be there because the bank is a government agency to control money if there is no bank, the government will not be able to control the circulation of money. and now the bank already has many members so the bank won't be lost. to support crytocurrency the bank will adopt blockchain technology. so in my opinion the bank will also support cryptocurrency in the future.

[matchi2011]

Banks may not respond at all to the emergence of cryptocurrencies and nothing will happen to them, because the banking system is fully protected by the state. However, banks will use cryptocurrency in the event that it is beneficial to them. With the advent of cryptocurrency, banks will lose a little in the number of their customers and nothing more. However, they will have enough work and they will receive no less profit.

That's how solid the bank state inside each countries. Due to government protections and people who are already engaged by using the system banks will still remains as the main access for financial system, even crypto will flourish the use of banks will still be there. We need to considered the old types of transactions are also being used by many businesses that will not shift into any new innovations as long as there's no full implementations
from the government that jurisdict them.

[asus09]

I don’t think it’s profitable for banks to issue loans in cryptocurrency, except at a huge interest. Indeed, in the event of a running race, those who took out a loan will be able to repay it very quickly and remain at the same time in a big plus, I do not think that banks will allow this. Most likely the course will be fixed. But this is all of course guesswork.

Can you tell how many percent of the total number of people on the planet use cryptocurrency now and how many people will use it in 10 years?  The community of cryptocurrency users is still very small and I doubt very much that banks will issue loans in cryptocurrencies to ordinary people, because it will not be oil of character and no one will rebuild the entire financial system of banks for this.  Nevertheless, banks will be able to very actively use cryptocurrency for cooperation with big business.

When bitcoin or altcoin  have adoption as legal payment transaction I think many people move money from bank become bitcoin assets, saving in the bank money never increase little but when move to bitcoin can increase value of their money, there available bank want to stop for make bitcoin legal transaction and government try to banned bitcoin or altcoin as investment assets.

[ovcijisir]

I don’t think it’s profitable for banks to issue loans in cryptocurrency, except at a huge interest. Indeed, in the event of a running race, those who took out a loan will be able to repay it very quickly and remain at the same time in a big plus, I do not think that banks will allow this. Most likely the course will be fixed. But this is all of course guesswork.

Can you tell how many percent of the total number of people on the planet use cryptocurrency now and how many people will use it in 10 years?  The community of cryptocurrency users is still very small and I doubt very much that banks will issue loans in cryptocurrencies to ordinary people, because it will not be oil of character and no one will rebuild the entire financial system of banks for this.  Nevertheless, banks will be able to very actively use cryptocurrency for cooperation with big business.

When bitcoin or altcoin  have adoption as legal payment transaction I think many people move money from bank become bitcoin assets, saving in the bank money never increase little but when move to bitcoin can increase value of their money, there available bank want to stop for make bitcoin legal transaction and government try to banned bitcoin or altcoin as investment assets.

Yes but Bitcoin price growth can't be forever, it will stop when enough people start using it.

But for now the more people use it the more price growth will be.

[SaShiRaJaVu]

(I will reply on OP's title's question) If banks wouldn't improve by time that crypto currency are needed. then they will be dissapeared, but that thing would be happen? not for sure, because banks are in observation of popularity of crypto. they wont accept that they will left behind. they will improve as crypto bank and make their own strategy to avoid of disappearing.  

The major misconception here is that nothing will replace the banks and we do not want crypto banks, people have to understand the difference between different markets rather than incorporating everything, banking is improving as everything is digital in the banking sector now a days and what more improvement do you expect from them. If the entire population shift their transaction to the crypto market then we might not need the banking sector altogether and that will not happen  .

[BartS]

Banks may not respond at all to the emergence of cryptocurrencies and nothing will happen to them, because the banking system is fully protected by the state. However, banks will use cryptocurrency in the event that it is beneficial to them. With the advent of cryptocurrency, banks will lose a little in the number of their customers and nothing more. However, they will have enough work and they will receive no less profit.

If this was true then banks will not feel threatened by bitcoin and many other cryptocurrencies, they know very well that bitcoin is superior to them since it allows each person to be their own bank.

What we do not know is what they will do to try to still be relevant, and what comes to my mind is that they will try to deceive people into not adopting cryptocurrencies, which is what they are doing now, but once that fails they will adopt cryptocurrencies assuring they can take better care of your coins than yourself.

[Peashooter]

Definitely the banks will just go to the flow when the cryptocurrency dominates, then the banks will also operates some cryptocurrency in their system so that they can cope up on the new world banking or technology. They will cope up with the new trend because they will do all of the thing that has been mentioned in order for them to earn and not stop their banking operations.

[AicecreaME]

Definitely the banks will just go to the flow when the cryptocurrency dominates, then the banks will also operates some cryptocurrency in their system so that they can cope up on the new world banking or technology. They will cope up with the new trend because they will do all of the thing that has been mentioned in order for them to earn and not stop their banking operations.

The banks should be afraid once people started to notice how better it is when their money is not on the banks, even if they adjusted to fit in the new technology or community we will have in the future with cryptocurrency, whatever they will do will be be all useless. The worst case scenario is they could vanish without any tracks remaining and all of the people will not remember anything about them.

Once cryptocurrency dominates the world, cryptocurrency will be alone and will don't need a bank or a third party.

[NeironixNV]

Definitely the banks will just go to the flow when the cryptocurrency dominates, then the banks will also operates some cryptocurrency in their system so that they can cope up on the new world banking or technology. They will cope up with the new trend because they will do all of the thing that has been mentioned in order for them to earn and not stop their banking operations.

I agree with u, that banks will not disappear anywhere, they are already trying to adapt to the new emerging digital economy and are creating their own stablecoins prototypes.

[akmal1984]

Very interesting review. Right as you explained here, banks will still be there later and most likely they will even use blockchain technology. But as a company they will still become banks as we have known so far.A company that has existed for generations from time to time, I think, will remain as long as it can provide benefits to many people

[agentx44]

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.


1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners  would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.


2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.


3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.


4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.


As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

Banks are already regulating people's money way longer than the existence of cryptocurrency. We cannot really remove banks in the system, instead we should study on how cryptocurrency and banks may work in harmony in the future. As to what was said, banks wull adapt the new monetary system if ever crypto gets its spot in the future. The processes in the banks will be very different from the usual when that time comes but it would be a good thing if banks would really stay and regulate fiat and crypto together for a better global economy.

[AlaBy]

It seems to me that over time, banks will simply work directly with cryptocurrency. Already today, many banks practice this. Depends on regulators. The faster cryptocurrencies approve, the faster banks will be able to process cryptocurrencies.

[Visbay]

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.


1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners  would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.


2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.


3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.


4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.


As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

Banks are already regulating people's money way longer than the existence of cryptocurrency. We cannot really remove banks in the system, instead we should study on how cryptocurrency and banks may work in harmony in the future. As to what was said, banks wull adapt the new monetary system if ever crypto gets its spot in the future. The processes in the banks will be very different from the usual when that time comes but it would be a good thing if banks would really stay and regulate fiat and crypto together for a better global economy.

The place where we store our money calls out bank  so long ago people were not having any other way to keep their money safe but now it is 2020 so we have more options than this crypto is making the need and the use of banks so little, some banks are applying blockchain system in their banks as we know when talking about safety so blockchain comes in mind.