Will banks disappear because of cryptocurrency?

[BZingerB]

Next year, the sphere of crypto-currency will be accepted by the world. We are waiting for legislative regulations on regulation!

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[medussa]

Banks will not dissapear even as cryptocurrency become more popular , they can however modify their mode of operations to reflect modern changes in technology by applying the blockchain

[quardosintyelos]

People will always use cash, make deposits and take loans. I think banks will always exist

[Iyanu14]

I think bank will copy the blockchain technology to carry out their daily transaction accepting defeat would be a difficult thing to do for banking industry let see what happen ten years from now if they will still exist.

[gxxxz123xp]

No, it will not make a bank disappear just because cryptocurrency. Cause bank already have their function to make your money save and maybe the bank will launch a cryptocurrency too.

[cherryganda]

Banks will not disappear because of cryptocurrency,
but there will be big changes in the near future, as bank will consider deposits from crypto.
Like sending them your bitcoin to get your bank account a fiat value.
If they will not move forward like this, they will be gone soon.

[extrajuu333]

i don't thing that banks will disappear, but there will be al ot of changes due to the cryptos in the bank sector too

[lutcor]

Banks are now under great pressure from the international monetary fund, probably for this reason, now very many currencies are beginning to experience very heavy loads that could cripple the economies of different countries.

[willybacem]

Bank and crypto have a very good relationship. And I think that in the future crypto will be a very large industry. And the current crypto and the bank was able to establish a partnership. In my country to disburse money will send crypto through a bank.

[krystaltoken]

No way the banks will still be there. We really need them to keep our volatile  digital coins to fiat currencies. In my own opinion i think the banks should work hand in hand with cryptocurrency. To make the crypto world an integrated one.

[fritzvillarin]

I doubt it, Bitcoin use to facilitate payments without banks, while Banks is to safeguard other peoples money.

[HichemFetoui]

No in my opinion I think they will shapeshift and adopt a new business model they still have the power and asset that allow them to survive

[Mt Pelerin]

Banks will not disappear because of cryptocurrency,
but there will be big changes in the near future, as bank will consider deposits from crypto.
Like sending them your bitcoin to get your bank account a fiat value.
If they will not move forward like this, they will be gone soon.

Correct, and actually it will even be possible to deposit cryptos on an account just like any other fiat currency, with dedicated IBANs for BTC, ETH, etc.

[Kool5]

Of course, the banks will not disappear because of the crypt. Banks will need to find an alternative that would cooperate with the crypt. I know that in some country. Most likely the Asian salary was paid to the workers by the crypt. Now, if any of them had at least slightly postponed it to pinsy, he earned.

[Thyaga]

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?


Feel free to drop your comments here.thanks

That happens if the crypto world has an official crypto bank run by the government.
Banks are used by all levels of society while crypto is not.

[seregaleon]

It seems to me that banks are sure to come up with something to not lose such a huge audience!

[YinShuiSiYuan]

it is impossible, remove the system that already exists and people trust it for a very long time

The banking system is deeply rooted in global economy. Companies depend on cooperation with banks. Changing this system will take a lot of time if it is possible at all. The use of blockchain by banks may cause major changes in bank payments.

[Fakeer 666]

Banks also need to live and therefore they will find a compromise and will cooperate. After all, the blockade has good prospects for the future. With a good competitor you need to compete better. This struggle will be better with us.

[swati123]

I think banks will always be there. People have trust in banks and they are very well organized and have government control. They may start accepting Crypto currency or could create their own crypto currency in future.

[aeternus]

Banks will continue to exist as long as the fiat exists. Both banks and cryptocurrencies will coexist because the final exchange of crypto is to a fiat. There are services which are unique and only particular to either crypto and Banks.

You are only looking at how the system works today, what is going to happen to banks once cryptocurrencies begin to be accepted directly and we do not need to exchange our cryptocurrencies for fiat currency? At that point many of the people in the forum are probably going to stop using fiat and if they are paid in fiat they will convert it to cryptocurrencies immediately and forget about that currency controlled by banks and governments.