What would happen to banks?

[Emigham7]

Banks will remain in the system so long as fait money exist. Even if fair will be outdated with digital currency, not now. It will be in future. Bank might also diversify and enter into cryptocurrency

[swaggerkeme]

The banks will still exist even if crypto takes over the world as the world topmost currency. Over the decades, anytime a new technological development comes about, the banks adjust to accommodate. The banks will still be in operation.

[Will.Smith]

All of the banks linked together with central bank and with  Federal Reserve System. If you don't know much about it
https://en.wikipedia.org/wiki/Federal_Reserve_System

And most of the money, as well as most assets and property already own by bankers. These guys aren't stupid they can handle with crypto. They control a lot of governments, so they can control any area of our life that depends on money.

[mahfuj7779]

Everything is digital so people are looking for comfort Everyone wants to use when something new arrives. It is not possible for everyone. More about the future of the bank for some of the future.

[ngalamunan]

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...

I do not think it will die, maybe the business will go down, because new technology has been launched and sometimes people are choosing the latest technology as well. so the quality of the business can go down.

[Cult]

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...

I do not think it will die, maybe the business will go down, because new technology has been launched and sometimes people are choosing the latest technology as well. so the quality of the business can go down.

There is no reason for banks to die. They will just change their business models and the selection of services they offer.

[Umkar]

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/

I see that the reference refers to the ongoing ICO, whose team is going to issue loans in the future in the crypto currency. I recently read that in Estonia, CoinLoan has already begun to work and conclude deals. It is an intermediary in transactions of lending to fiat on security of crypto currency. This is a slightly different type of lending involving crypto currency.
I still think that ordinary banks will not give out loans, where at least somehow the crypto currency will participate. For banks, these transactions will be too risky.

[neite99]

the banks have been in the world for so many centuries and have their roots strongly deep in this world. A new technology which is not even ten years old can`t overcome banks so easily, rather banks would adopt this new tech and use against it as it happens with so many innovations.

[cryptocurrencyguru]

in future banks will be adopted to blockchain based banks more transparency and more adaptability for customers blockchain is new disruption for banks

[Lorence.xD]

As in the Op things can change when the mainstream usage of cryptocurrency keeps on increasing marking an evolution on the entire financial infrastructure. Already there were few banking network that has started using bitcoin as well accept bitcoin investment similar to that of the gold. The financial system functions in an effective manner if bitcoin adoption happens with entire banking.

  Bank will stay, it maybe old system of investment, Saving Deposit, and other money transaction in the business community, this will be hard to replace it yet even with the new technology, it is the culture of acceptance by which people should be  aware of, not to mention the Level of Trust of every investors whom are used to the old system of business transaction.

[_navoj]

If you want to survive you need to adapt in every changes that may occur. The banks that we have right now cant be easily be took down because of bitcoin. They will surely evolve and innovate their system in the process.

[Ilegendph]

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...

The introduction of bitcoin also offers new services to offer by the banks.  There are services of banks that could I found usable even in the introduction of cryptocurrency such as loans. Banks could use blockchain to improve their services without getting engage in yhe industry. In conclusion, banks will survive and definitely will evolve and Im excited about this.

[alizalela7]

If bitcoin is widely accepted and traded, the bank will lessen the burden on lending and they will not have a monopoly on lending they should accept for bitcoin operations and they should open up. for bitcoin development

[Chrisjay29]

I think those 4 kind you mention is already having in crypto. So i think there no future in bank. But we cant say this time because we dont know the future.

[HeatherAdams00]

The World Bank is another financial institution that is in the process of exploring the advantages that blockchain technology can bring to their specific needs.

The World Bank is considering blockchain as a potential means to build and restore confidence in financial institutions. This belief has declined sharply throughout the world in recent years.

The world's largest multilateral development bank is launching a 'blockchain lab' in an effort to pilot projects that could improve governance and social issues in developing countries.

[naily]

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.

nothing will be the effect of bitcoin on conventional bank because bitcoin or bank have different system, I assume with the presence of btcoin bank will adopt system owned by bitcoin

[Gibsonlda]

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.

nothing will be the effect of bitcoin on conventional bank because bitcoin or bank have different system, I assume with the presence of btcoin bank will adopt system owned by bitcoin

bitcoins can not have their own bank, it is very risky for them and their users.

conventional banks are able to implement a blockchain system in their database, but research that runs is not very perfect and still in testing phase, in the end the banks will still not be excluded if bitcoin picks up instead of world finance, they will quickly adapt to using the crypto currency system with or without government approval.

[SaraClarke1212]

Many banks are still confused in dealing with digital money, mainly because they do not fully understand the currency. One thing is for sure, the weaker, the insecure, and the arbitrary managers are always opposed to digital money because they consider it an effective tool for people to regain their equality. Democracies with the good government have no reason to stop the digital money, but rather benefit from this kind of money, including additional economic growth stemming from reform. banking services and additional taxes levied by the digital money.

[Kate Beckett]

I think that those banks that are determined against the crypto currency will soon lose their relevance and will no longer be necessary. In order for banks to maintain their institutional appearance, they need to keep up with innovations, considering crypto currency as an opportunity, not a threat. Banks should bet on this new asset class and strive to react as flexibly as possible to market demands.

[crazymelons12]

Nothing will ever happen to banks. Many of the banks especially those rural banks have survived due to the loans that their customers have made. When doing loans for whatever purpose would too risky for an individual if made through cryptocurrency because of the volatility of the digital coins. What if a person stores his money as a digital currency and then all of a sudden in just minutes everything goes dropping say about a half? How do you think will it benefit the user or holder? So I guess cryptocurrency is more effecient as a payment system and not as a bank not unless some adjustments to the system will be imposed like no dropping of values or bought as is and can be sold higher, but i think this is really impossible. So for now I don't think banks will be closed or whatever something bad could happen.