What would happen to banks?

[wahyu wida]

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

I believed bank in the near future will adopt crypto currency. Because as far as I know there are some bank in the other country now which is started to adopt its concepts anyway, even here in my country though there are few as of the moment, for sure to other banks they will do the same thing. And that's right, go with the flow is the best solutions anyway for them to survive.

before they agreed to Krypto, blockchain was approved as a supporter of their activities because support was more effective because it used a decentralized system

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[Harley29]

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

I believed bank in the near future will adopt crypto currency. Because as far as I know there are some bank in the other country now which is started to adopt its concepts anyway, even here in my country though there are few as of the moment, for sure to other banks they will do the same thing. And that's right, go with the flow is the best solutions anyway for them to survive.

before they agreed to Krypto, blockchain was approved as a supporter of their activities because support was more effective because it used a decentralized system

Block chain is good as it has popularity and it’s good to secure a centralized and decentralized system at the same time. Banks are now competing with crypto because people left using banks and invest in crypto to save their money for long term. That’s why I think to overcome the popularity of crypto banks will have to struggle allot.

[flemmings02]

Nothing will happen to banks, It doesn't matter if crypto gets very hugely adopted, They will always be a need for banks to turn cryptocurrencies to cash and bankings will also be needed for daily day to day business activities within a location.

[Seeker#9]

Nothing will happen to banks, It doesn't matter if crypto gets very hugely adopted, They will always be a need for banks to turn cryptocurrencies to cash and bankings will also be needed for daily day to day business activities within a location.

I agree with your opinion, the banks will stay in business regardless of the popularity of the cryptocurrencies. People will continue to use the banks because of the financial services they offer that can't perform by any cryptocurrency. They can also improve their services by turning fully digital or using the blockchain technology to match the function of the virtual currencies.

[Dreamchaser21]

Banks is old institution that already survive in many condition. I am believe banks will keep survive and adopting cryptocurrency if crypto growing more bigger. Banks still needed for transaction and i think government will keep banks to boost economic growth

They are big enough to survive but if they don’t adopt, I don’t think they can survive in the competiton. Many bank already used blockchain technology, and so far its running well for them. Let’s wake up now, and accept that banks is just making money through our money, we need a technology like this to control our own money.

[2chase]

I am sure that the banking system is the financial sector that can be one of the first to apply all the advantages of the blockchain and the new technologies based on it in its activities. Therefore, hoping that banks will leave the financial arena is very unwise. In my opinion, over time, various hybrid technologies will be developed. In which the use of cryptocurrencies and traditional banking services will be combined.

[nur rochid]

I am sure that the banking system is the financial sector that can be one of the first to apply all the advantages of the blockchain and the new technologies based on it in its activities. Therefore, hoping that banks will leave the financial arena is very unwise. In my opinion, over time, various hybrid technologies will be developed. In which the use of cryptocurrencies and traditional banking services will be combined.

by prioritizing the speed and safety of a transaction, indeed the bank is ideal for implementing this system, especially as more and more new customers and transaction value increases

[primeluck]

Banks will sill operate, do business,give loans and digital transaction but cryptocurrency keeps making investment ahead.

[Tom_13]

Most likely, they will first begin to introduce new technologies. They will say something like: "It is already impossible not to notice that the cryptocurrency is firmly entrenched in our life, so we decided to implement ..."
In the future, the cryptocurrency may be the only currency. And banks will adapt to this, I have no doubt.

[sirminesalot]

of course, along with the development of the bank, it will keep abreast of these developments because it is impossible for economic development to not keep up with the development of the Eidan era and technology will certainly go hand in hand

[romero121]

Banks were the basic financial system helping with majority of the fund management all around the globe. Particularly if banks weren't existed the financial infrastructure might have collapsed. Same time they make the people suffer with our own money. This will be eliminated with our cryptocurrencies. Another thing banks will start adopting blockchain technology which will help having our own funds in our hands.

[Tylev]

I agree with your thought. Banks have many different and unique ways to adapt a currency. If ever cryptocurrency replaces fiat currency, banks will only just make cryptocurrency be used as their primary money that will be debitted and creditted to the account of their clients. It can also be used as investment.

Nothing can happen to banks. They will work and flourish in any currency and cryptocurrency. Cryptocurrency can never replace the national money of the states, it is simply not capable of it. Cryptocurrency also does not represent any threat to the existence of banks. However, if such a threat appeared, the state would destroy everyone from whom such a threat would arise. After all, banks, and first of all state banks, are in fact part of the state itself. Without them, the state will not be able to fully function.

[virasog]

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.

Every thing takes time to change and so will the crypto currency will take time to replace the fiat. When there will be no Fiat, they will be no need of banks so the banks will automatically be closed. Of course banks will not run if no one uses the paper money and the world is shifted to digital currency.
For me, the Futue of banks is not secure.

[kkaroul4]

Bitcoin in this year can't spend money banks, because bitcoin's income is declining, now I have never taken money in the bank from the results of bitcoin, now I am experiencing a lot of losses

it is true now that it is very difficult to benefit from bitcoin so that it is difficult for us to take money in the bank, but for its own loss it depends on how we are running at the current market

[jimskiy]

If you have much money never save or hold your money at the bank, you can trying for investing your money at investment kind, you can buy property, gold or other investment because your money will have higher value at the future.

[zemper]

I suppose that banks will easily adopt cryptocurrencies technology. Furthermore, banks can also promote popularization of cryptocurrency offering different services. So, it would be unlikely for banks to disappear in nearest future.

[St4yInTh3D4rk]

I suppose that banks will easily adopt cryptocurrencies technology. Furthermore, banks can also promote popularization of cryptocurrency offering different services. So, it would be unlikely for banks to disappear in nearest future.

But why they need to do,if the crypto currency becomes main stream currency then we just need our wallets to store any amount of money with high security.They are not going to promote anything because cryptos were made for decentralized means to kill centralized traditional banking system.

[Vaculin]

I suppose that banks will easily adopt cryptocurrencies technology. Furthermore, banks can also promote popularization of cryptocurrency offering different services. So, it would be unlikely for banks to disappear in nearest future.

But why they need to do,if the crypto currency becomes main stream currency then we just need our wallets to store any amount of money with high security.They are not going to promote anything because cryptos were made for decentralized means to kill centralized traditional banking system.

If they will allow to get killed, they will fight for the centralized system as they have invented it and people are getting used to it.
Decentralize is more transparent and it's quite new to most of us, people will prefer those that are safe and that's easy to use.
Crypto is quite complicated for an average joe.

[zoisonfire]

In my opinion, the banks will still be active since we still needs a fiat money in our traditional markets, and also for sure many banks will be adopting the changes and they will evolve also depending on market.

[St4yInTh3D4rk]

I suppose that banks will easily adopt cryptocurrencies technology. Furthermore, banks can also promote popularization of cryptocurrency offering different services. So, it would be unlikely for banks to disappear in nearest future.

But why they need to do,if the crypto currency becomes main stream currency then we just need our wallets to store any amount of money with high security.They are not going to promote anything because cryptos were made for decentralized means to kill centralized traditional banking system.

If they will allow to get killed, they will fight for the centralized system as they have invented it and people are getting used to it.
Decentralize is more transparent and it's quite new to most of us, people will prefer those that are safe and that's easy to use.
Crypto is quite complicated for an average joe.

But the fact is decentralized system is more secured than centralized one and it is not much hard technology to use it because people no need to understand it if they want to use it.

Or how many of the people in this world knows how money was made and why we are using it?