What would happen to banks?

[South Park]

I think very great and helpful if banks will realize the importance of cryptocurrency and perhaps enter into crypto. They can provide their usual services to customers and also provide services in cryptocurrencies, such as investment, savings and loans, shares buying with crypto, and a lot.

The people managing the banks are really smart, they understand very well what it is at stake here, they know that if they accept bitcoin that will be a sign of weakness, that they have basically capitulated and accepted the fact they cannot defeat bitcoin so believe me they are not going to do that until they are forced by bitcoin to comply with it.

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[bozicso]

Crypto  must secure low volatility to got massive adoption.  Without volatility people risk to much.  In my signature is good project who offer debit card which cant be baned,  but just good and real product is not enough.  They need low volatility.  No way any coin can change fiat before reach price stability

[Crypto24hrs]

As long as governments exist banks will continue to exist as well because bank is the means in which governments carryout their dirty deals which will not be possible through crypto

[Etn1se]

The banking systems that are familiar to us can be a thing of the past if the crypto currency is increasingly introduced into people's everyday life. But at the moment it is very unlikely, because banking systems have already taken root in society and crypto currency will take a long time to dislodge banks.

[laravuemaster]

As long as governments exist banks will continue to exist as well because bank is the means in which governments carryout their dirty deals which will not be possible through crypto

Yes you are right, cryptocurrency is really a good investment but it will not kill fiat so it only means that banks will last which is a good news for people who is not able to invest on cryptocurrency.

[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

That might be happen but in my opinion both are existing in tge real world because banks is the Threats of Bitcoin as I have said they will function their responsibilities but one of them will slow or passive and one will active but it is not a hindrance for bitcoin because they will actively participate and will give all the effort so that it will perform the best thing.

[hisuka]

As long as governments exist banks will continue to exist as well because bank is the means in which governments carryout their dirty deals which will not be possible through crypto

Yes you are right, cryptocurrency is really a good investment but it will not kill fiat so it only means that banks will last which is a good news for people who is not able to invest on cryptocurrency.

Banks will still continues in the future though bitcoin is in use. Exactly their is still people loves to invest or use banks. So I think in the future crypto and banks will do exists.

[Burogh]

If peoples using cryptocurrency for their transaction, i am believe banks will keep survive. Banks have many bussiness and they dont depending on loand and saving bussiness. Banks already survive in many condition and they will evolve their bussiness when crypto entering common bussiness

[South Park]

Crypto  must secure low volatility to got massive adoption.  Without volatility people risk to much.  In my signature is good project who offer debit card which cant be baned,  but just good and real product is not enough.  They need low volatility.  No way any coin can change fiat before reach price stability

If people were afraid of the volatility of the market then we would never had the Tulip mania, the dot com bubble and the real estate bubble, bitcoin is going to be adopted despite its volatility and in some causes because of it, so what you are saying is not really necessary besides the volatility of bitcoin will tend to decrease in the future as more people adopt it and bitcoin becomes an important part of the economy.

[sublime5447]

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

Yes, I’m agree with you because banks cannot be replaced with cryptocurrency. I only added 1 point, it is
-SOCIAL
I see that there are a lot of people in various countries that don’t have internet access or cryptocurrency technology, if the conditions like this, they won’t be able to use their money if the bank uses the cryptocurrency system completely.
Most likely the bank will only integrate 30% from the entire system of cryptocurrency.

[SHAWN-MIDWAYS]

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...

Yes this is completely true as it's evident from history that whenever any new technology enters the market the older technology needs to be evolved or it will die so this will also happen in this era with banks as cryptocurrencies are the future of financial market all over the world so it can help either banks to evolve or it can kill our banking system which are prevalent in our today's world .

[Indai24]

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...

Yes this is completely true as it's evident from history that whenever any new technology enters the market the older technology needs to be evolved or it will die so this will also happen in this era with banks as cryptocurrencies are the future of financial market all over the world so it can help either banks to evolve or it can kill our banking system which are prevalent in our today's world .

Whatever this new technology is, banks will also find a way to evolve, they always follow the trend and that's the reason why they cannot be replaced. It is also the safest way of storing your money and it's proven all the time.

[Glorypaasa]

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

if cryptocurrency will become legal to all country i can say that bamks will going to disaapear and goverments will accept thos cryptocurrency as a banks so fast but i think they will going to get some tax who use this.

[Incodium Coin]

Up until the beginning of the year 2018 when the Korean government was threatening tighter regulations on cryptocurrency, banks had been some of the biggest investors in crypto. Most banks, like other institutions, are tapping into the potential that the blockchain technology has to aid them in servicing their customers.
Banking, as with other services or products is 'adapt or die'. Remember Kodak and all the dinosaurs that refused to change with times. Only banks that refuse to adapt can become obsolete. That said, while we embrace blockchain and crypto, it is worth noting that there are people who will NEVER be part of the crypto world, because they won't/or can't. For them, the banks will continue to exist.

[Lauff]

The idea that cryptocurrency replaces banks would be a revolution. This is an alternative to the liquidity process that has been widely accepted around the world.

I don't think crypto will replace the bank, in my opinion crypto's participation in this case is to improve or be the development of technology in banking to manage safer and corruption-free finance

[Pan Troglodytes]

The idea that cryptocurrency replaces banks would be a revolution. This is an alternative to the liquidity process that has been widely accepted around the world.

I don't think crypto will replace the bank, in my opinion crypto's participation in this case is to improve or be the development of technology in banking to manage safer and corruption-free finance

Yes, crypto and blockchains in particular will offer some tools that banks will use to offer or expand their services and only for certain customers (retail customers, I think).

[Salala1]

It is rather unfortunate to the banking sectors that cryptocurrency is taking huge percentage of the services rendered to the public. For some time now, there has been a limited number of people who invest in banks. This is all because banks offer very low interest rate and investment in banks more risky in the sense that the  bank can go bankrupt.

[Stuart_Shook]

Up until the beginning of the year 2018 when the Korean government was threatening tighter regulations on cryptocurrency, banks had been some of the biggest investors in crypto. Most banks, like other institutions, are tapping into the potential that the blockchain technology has to aid them in servicing their customers.
Banking, as with other services or products is 'adapt or die'. Remember Kodak and all the dinosaurs that refused to change with times. Only banks that refuse to adapt can become obsolete. That said, while we embrace blockchain and crypto, it is worth noting that there are people who will NEVER be part of the crypto world, because they won't/or can't. For them, the banks will continue to exist.

Yeah exactly, and now why are all of the banks so timid? You'd think that they'd want to take on blockchain and create their own model with it so they don't have to deal with this bitcoin "headache". But instead they are not even researching it anymore or talking about ways to adapt it. What changed? Is blockchain really that big of a threat to their royal status quo?

It could be that the powers that be are trying to find an alternative solution that will rival or replace bitcoin and make it appear worthless.

[dupee419]

Give this man a merit! Definitely put out the exact words that I'd be putting right there, banks won't be extinct, but will be adapting cryptocurrency as something that both the crypto and the bank will be benefiting a lot, and I think you constructed the post as simple as possible, something that would attract the reader and will convince him/her to continue and finish reading the whole statement.

[stellgod]

In case of cryptocurrency dominance in the world I think that banks would not be needed anymore but with the conditions that we have right now I can say that it would not be a case for 10 years from now at least.

You are absolutely right. Banks wouldn’t be seen in upcoming years but it takes time. May be years or may be more than few decades. People are embracing bitcoin and crypto world. They start involving in this coin and gradually the number is increasing every day. So time will come when people consider this as only saving source and that would be dangerous time for banks.