What would happen to banks?

[PEDROMAP]

Banks will always be there, in fact they are already taking advantage to earn big money, they may lose in one way but as time goes buy they will benefict greatly

[pallang]

Banks will stay because some people uses banks in their transactions and banks also offers loan to their clients like housing, business, car loans and also investment but with small amount of interest only not like investing in crypto you can double your money when you join a good ico.

[Snaic]

Banks are needed in any civilized society and in any state. Banks are already an attribute of any state. Therefore, banks will exist if not always, then for a very long time. Banks always have a job without a crypto currency. They credit the branches of the economy, various types of business and ordinary people, and generally serve the state plans for the social and economic development of society.
 At the same time, I think that banks will not perform various operations with crypto currency, except for exchanging it in fiat on the contrary, because it will be too risky for banks. Banks will not take such a risk.

[mornabo]

I believe banks will always be there, for this a financial institution , the time the cryptos will be popular around the world and will be used by many as currency, then the banks should adjust and accept any transactions which the programme related to running a cryptocurrencyvin the banks because banks are business financial institution so banks would really join cryptos.

The Bank will not be affected by any development of crypto, we know that governments will continue to use fiat as the main
currency, from that which the bank will continue to live as a money-storage and financial facility for the whole society

[Argoo]

Even if the crypto currency completely conquers our world, the banks will exist without any problems. Banks have a lot of their own specific work, without which no state can manage. However, in my opinion, banks will not perform various operations with the crypto currency, such as accepting crypto currency for depositary storage, issuing loans in the crypto currency, and others, since such transactions will be too risky for them.

[Altf4]

Banks will not be vanished even if the cryptos are still dominating the currency in the digital world , but banks as business and financial institution it will adopt on what is the latest dimension in the market, it would relly adopt the cryptocurrency transactions as part of business sectors of finance.

[Kadal Ijo]

Although the use of cryptocurrencies continues to increase but I am sure that banks can always survive until whenever, this is because the government will protect the bank with various policies.

[yunzau]

yes any changes inevitably have an impact including banks, when taken over by crypto because of better systems such as decentralization and no duplication of money.

[hatsoff2btc]

In every business it's the same. When new technology comes up the existing businesses will evolve or die. And obviously new businesses will also rise strong.
Same happened with mp3 and music industry...

You are right about the advent of technology and its impact on the existing market but one should not forget that banks are the financial institutions set up by the government and follow the rules and regulations the federal bank sets for them which runs the government. SO in my opinion, banks will never perish just because of the arrival of crypto. It has been a decade since Bitcoin is rolling in the market but there are still lots of banks in Time Square NY and in my country.

[Stuart_Shook]

In every business it's the same. When new technology comes up the existing businesses will evolve or die. And obviously new businesses will also rise strong.
Same happened with mp3 and music industry...

You are right about the advent of technology and its impact on the existing market but one should not forget that banks are the financial institutions set up by the government and follow the rules and regulations the federal bank sets for them which runs the government. SO in my opinion, banks will never perish just because of the arrival of crypto. It has been a decade since Bitcoin is rolling in the market but there are still lots of banks in Time Square NY and in my country.

Yeah they'll adapt. They are so deeply ingrained in society that they have no choice but to adapt. People depend on them, especially those who cannot handle their financial choices by themselves. It's like the hospital. Some people will go most of their lives without ever having to visit it because they will live very safe and healthy lives and take care of themselves independenptly. Some people will never go to the bank because all the money that they need is in their pocket, and when they need more, they go to work and put more in their pocket.

So banks will provide a similar service for those who want support with their crypto investments and day to day transaction needs. They'll be there to provide advice (which probably won't be very helpful) and to charge service fees for anyone who wants it.

[SaraMartin1212]

Its intrinsic electronic money cannot be controlled by banks around the world, with this, exchanges, bitcoin deals or other electronic money that will cause banks to lose. Their control of the part of the economy, the banks will lose revenue about their revenue.

[bozicso]

The main problem of the coin  is volatility. If a small volatile coin is made, then it is enough to use crypto cards and banks are past. Of course, this is a demanding job, but whoever will succeed in the holy Grail in their hands.

I would not advertise anyone, but these from my signatures are closest by my opinion. Still, it's still up 2 months to their cards start work, so we can say something more. But they are working on the problem of sending banks into history

[Madara_Uchiha]

Exactly suppose that bankers will make it very difficult. But I am confident that they will be able to make sure that they remain at a profit.

[satana_igor666]

Banks are able to adapt, they will find how it will be possible to earn on bitcoin.  I heard that they want to open a point where you can buy bitcoin and sell it there.  Probably they will do it.

[Cosbycoin]

If ever the world is to shift to cryptocurrencies, I for one thinks that this is not the end of the banks. State-issued cryptocurrencies will still be regulated, manned, and controlled closely by banks and if anything, they can do things easier and quite effortlessly since they only need to change some figures in the code and voila! Magic internet money is created out of thin air, a few clicks and a few inputs! Banks would be the kings of a centralized cryptocurrency, just like what they are already doing in the realms of a fiat-powered world today.

I can say based on the knowledge I have, if there is any industry that is moving rapidly in terms of technology, its the bank and they are doing it aggressively. The reason for that is they finance any project that comes their way and you don't get to finance from them without first giving them your idea they in turn have the money to hire the best programmer and software specialist who will develop the idea into something they themselves can incorporate into their activities without any stress.

The point it, banks will still continue to be relevant and even rely on the blockchain to increase their penetration by the time they launch, they would come up with new slogan about how safe it is to use the blockchain for banking transactions.

No doubt if they work on it and make a fine system for its use besides banks then there will be no issue which will affect both. Now the cryptocurrencies are also a benefit for economy too so governments may accept it and may not however developed countries are going well with the Bitcoin so other countries should also learn from them how the Bitcoin is working there which will be helpful.

[Xenoph0bia]

If ever the world is to shift to cryptocurrencies, I for one thinks that this is not the end of the banks. State-issued cryptocurrencies will still be regulated, manned, and controlled closely by banks and if anything, they can do things easier and quite effortlessly since they only need to change some figures in the code and voila! Magic internet money is created out of thin air, a few clicks and a few inputs! Banks would be the kings of a centralized cryptocurrency, just like what they are already doing in the realms of a fiat-powered world today.

I can say based on the knowledge I have, if there is any industry that is moving rapidly in terms of technology, its the bank and they are doing it aggressively. The reason for that is they finance any project that comes their way and you don't get to finance from them without first giving them your idea they in turn have the money to hire the best programmer and software specialist who will develop the idea into something they themselves can incorporate into their activities without any stress.

The point it, banks will still continue to be relevant and even rely on the blockchain to increase their penetration by the time they launch, they would come up with new slogan about how safe it is to use the blockchain for banking transactions.

No doubt if they work on it and make a fine system for its use besides banks then there will be no issue which will affect both. Now the cryptocurrencies are also a benefit for economy too so governments may accept it and may not however developed countries are going well with the Bitcoin so other countries should also learn from them how the Bitcoin is working there which will be helpful.

Banks will continue to function in the future.Banks are an important part of our economy.Each and every person,every governemnt store their money in banks only.Banks are the safest option to keep money.Banks also give interest on your money.The main thing is banks are centralised.So they are supported by the governemnts and the nations too.Banks have established themselves from traditional time period.Cryptocurrencies have just started and are no match to banks in any aspect.

[South Park]

I doubt that banks will disappear in the future, I think that there will a mutual benefit between banks and blockchain technology. If the banks disallow transaction between fiat and crypto then financially cryptocurrency is useless for it is not so established that much. I think the banks will evolve for years to come and speed-up every transactions same to other establishments.

That can last for some time that is true but at the end bitcoin will become a replacement for the banks, some people are already using bitcoin for all their purchases despite the lack of adoption , what do you think it is going to happen when bitcoin can be accepted in almost every store in the world? People will no longer see any need to convert their bitcoin to fiat and that will be the moment when the banks will be at a huge risk of disappearing.

[iv4n]

I doubt that banks will disappear in the future, I think that there will a mutual benefit between banks and blockchain technology. If the banks disallow transaction between fiat and crypto then financially cryptocurrency is useless for it is not so established that much. I think the banks will evolve for years to come and speed-up every transactions same to other establishments.

That can last for some time that is true but at the end bitcoin will become a replacement for the banks, some people are already using bitcoin for all their purchases despite the lack of adoption , what do you think it is going to happen when bitcoin can be accepted in almost every store in the world? People will no longer see any need to convert their bitcoin to fiat and that will be the moment when the banks will be at a huge risk of disappearing.

You can doubt in crypto, but in the end crypto will replace banks. I don't see any other outcome. Peoples didn't have alternative like they have now with crypto, first wave was all about people and from people to people, next wave will be when small and medium companies adopt it, they wish to skip using banks to and to find direct line to customers, that's what they need, and third wave will be heavy industry adopting crypto.
Banks will be a thing of history, sooner or later is hard to say. I see that for a long time, since I'm here. Maybe I didn't believe in that from first days, but after a while I started to and I didn't stop until now.

[kolsernik]

Already now there are crypto banks in symbiosis with traditional banks.This is a very good trend.Now you can take a loan in cryptocurrency.Here is one of the projects that offers loans in cryptocurrency https://moneytoken.com/

[djgtr]

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

it is true that your opinion, the bank must give in otherwise it will be only passive, although it certainly will not happen with the impact of so much but can be predicted roughly when the form of investment also savings will prefer crypto as an alternative, can be predicted in the future when the function of banks is reduced much in the crypto community in addition to the circulation of money and the place of borrowing money or credit and I think no more than that, and predictable the existence of banks will be less and more reduced, but the economic turnaround that occurs in the community will continue to run without impact lethargic by the practice of digital transactions, may be useful and successful for all of us

It is hard to happen that banks will give in but some maybe. It is because their are many people who invested and look at it for peogression. Though we can see that bitcoin and ICOs can be a real thing to happen and a good investment as well. The relaxation is very different.