What would happen to banks?

[Muzika]

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

a business needs an innovation to survive also business needs a adaptation to the current trends in the industry for them to survive also if cryptocurrency will overtake that industry they also need to innovate something or just adapt for them to be still in the market. But banks are still banks many people and businesses still believes on it.

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[Brunus]

According to some forecasts, the banks will disappear.
I honestly do not believe it: they are too powerful, even if the bitcoins win will surely find the way to maintain their power.

[Cryptoville247]

Contrary to what a lot of people believe that banks will suffer with cryptos emergence, let us all watch. Most of this banks are very smart, they may just look for a way to cash out of the crypto system, and before you know it, they will begin to offer crypto services like exchanges too.

[thevlox]

Actually banks at bitcoin use difficult. but now bitcoin is a much big cryptocurrency. and now it uses many banks development official works.

[South Park]

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.

Banks will adapt, after all what it is stopping the banks from creating their own blockchain and accept payments as well, if you think there are a lot of cryptocurrencies now you have seen nothing, everyone is going to have their own crypto, from governments, banks, business like fast food chains and even physical casinos, so I predict a future where cryptocurrencies will be everywhere.

[nabilanur]

It would be terribly nice and useful if banks can notice the importance of sepulcherocurrency and maybe enter into the crypt. they will give their usual services to customers and conjointly give services in cryptocurrencies, like investment, savings and loans, shares shopping for with crypto, and a lot.

[Tylev]

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.

These are all loud words and nothing more. Banks serve the economy of the country and the financial side of the state as a whole. Therefore, banks will exist as long as there are states. They will always be protected by the state. This means that if the crypto currency begins to threaten the existence of banks, then the state will immediately intervene and will limit, and if necessary, also prohibit the crypto currency. However, this will not happen, since decentralized crypto currency does not pose any threat to the banking system.

[DPrillio]

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.

These are all loud words and nothing more. Banks serve the economy of the country and the financial side of the state as a whole. Therefore, banks will exist as long as there are states. They will always be protected by the state. This means that if the crypto currency begins to threaten the existence of banks, then the state will immediately intervene and will limit, and if necessary, also prohibit the crypto currency. However, this will not happen, since decentralized crypto currency does not pose any threat to the banking system.

Yes, as the world's current economic trend is that bank is the most monetary foundation of each nation and now that crypto currency start marching its campaign globally and many people adapting it then I believe in the coming future that nation will change due to the adaptation of advance digital technology of which our world going to be and everything will change and blockchain technology will be the center of this new age, and the fiat will extinct and cashless society will happen.

[Sanu Simon]

With cryptocurrency into existence it is found that a huge loss has been faced by the banking industry. This is quite a common factor, and to make themselves better, banks have come up with plans of adopting blockchain technology. To me banks will serve the human community while cryptocurrency will serve as a alternative to the banking needs.

[NevejElad]

I think banks will still be there even if cryptos are already accepted almost every where and became legit, banks as financial institution would always upgraded their system when the time comes that crypto will ruled, then banks will also go into cryptos.

[Ikay]

They also upgrade and compete to exchanges site's because other banks now are observing the crypto society if they get a profit or not, so banks now are getting in touch by crypto soon because of that they will not be beaten as easy of that.

[a4techer]

As i think banks never be obsolete by cryptocurrency we know in every business always have an improvement or updating every new technology appears like cryptocurrency we thinking that banks will remove and they are afraid because digital money is here but some of banks adopting the new technology like here in my country some of banks embracing bitcoin so that they are improving and they can never remove just updating.

[yusupjatigumilar]

I think the bank will get a lot of benefits when it comes to financial systems like blockchain, meaning that they can provide cheap services to customers and there is no distance limit to make transactions, of course people will also choose services that are cheap but not cheap, this will also have a good impact on Crypto currency price movements

[South Park]

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.

These are all loud words and nothing more. Banks serve the economy of the country and the financial side of the state as a whole. Therefore, banks will exist as long as there are states. They will always be protected by the state. This means that if the crypto currency begins to threaten the existence of banks, then the state will immediately intervene and will limit, and if necessary, also prohibit the crypto currency. However, this will not happen, since decentralized crypto currency does not pose any threat to the banking system.

It will happen, bitcoin allows you to be your own bank and banks cannot allow this, you are only seeing things as they are now but in the future banks will notice they are getting lesser profits and they will ask for governments to do something about it but the problem is that governments will also see their power affected by bitcoin, at the end I think banks and governments will still exist but they will be a lot weaker than they are right now.

[Veronika94]

Banks will not suffer much because of crypto currency.  They will be able to find their role in the provision of services.

[Popov_popov]

They will find something else you can do.  They are like leeches everywhere.

[KalaiBTC]

Actually banks at bitcoin use difficult. but now bitcoin is a much big cryptocurrency. and now it uses many banks development official works.

It is too hard to say anything regarding the future of the banking system for now as there are so many people who have already started withdrawing their money from the banks as they are now interested in investing their money into different crypto coins. The future of the banks will be in serious trouble the moment the governments will declare these crypto coins as legal currencies.

[TIDOVEE]

Bitcoin can replace bank, if it will be ready to maintain a good security means and help to reduce the hackability.
More so, the internet must have gone farther to the extent at which no one will be deprived of earning.
Then, withdraw/ exchange should be easier.

[asik$6]

What other coins are there besides the Ripple that banks are ready to use?

[airdropwwani]

I believe that the current banking system is probably going to continue as it is because the interest structure is already completed and derivatives are under way. Because it's too big to crush.