Will banks disappear because of cryptocurrency?

[tonibyuzen]

I do not think it is possible to talk about it now, cryptocurrency has to go a very long way before it will be possible to talk about serious tasks, such as replacing banks. But such projects as XP already have many partnerships and cooperate with many banks and financial organizations.

[1715431288]

1715431288

[fuer44]

in my opinion not even though in the future crypto is increasingly popularly used as a transaction tool and will not result in banks going bankrupt. because actually the crypto user still needs a bank to exchange crypto to fiat and there the bank can still take taxes for every withdrawal.

[dutechman]

Bank disappearing because of crypto, I don't really see that happening. Even if all the governments accept crypto, banks will still be existence. What I thought is possible is the reduction in the number of banks and probably some banks that will be dealing with crypto alone.  Banks help in reducing money laundering and some other fraudulent activities because of it's decentralization and legal backing. I think both can complement each other.

[Barbatos]

not for the next couple of years. the world can't change that fast. I think that things can only change in 10 years. this is a fairly large period of time for everything to change for the better

[der_troll]

No, they won't. Centralised banks are the core of the current financial system and I have some doubts that banks will completely disappear, even if crypto becomes mass adopted. Just wait and we will see what happens.

[RobotNIK]

I think no.  Banks will obviously try to create their own cryptocurrency by any means, but only centralized, which will probably also be in demand!

[gorodi]

I would rather believe that banks will trade cryptocurrencies than that banks will disappear because of them, as the banking system is one of the most durable and stable in the world.

I think that cryptocurrency will affect the banking system, but I am sure that banks will start using coins in order to attract investments and increase popularity.

[masterrex]

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

Will definitely not! I see it as a major challenge to the Banks as i see it cryptocurrency still needs the fiat to trade with and Because of this the Banking sector will innovate and upgrade its system and if possible they can used Blockchain or DAG to improve its service or else prefered to be disrupted!

[bahnfire]

Yes i think that is possible. Because after cryptocurrencies people dont need banks anymore. People can manage their own funds and they can send and spend easily. Humanity dont need banks and these systems anymore i think. There are also too many decentralised platform for debts and credits etc. In 20 30 years i believe we will see that. Banks will dissapear.

[nicecrypto]

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

I don't really think this will happen in the near future or maybe not even ever. It is still a long way from the global acceptance of crypto as a means of exchange and if this happens only will we think your question can happen as everyone will have come to accept the crypto currency and adopt the blockchain technology which could make it easier for cryptos to be adopted as a means of exchange. So since this is not the case yet and would probably not be the case as a lot of government are hell bent on not accepting cryptos now, it's still a long way off.

[basyang]

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

Of course not. Banks would not disappear because of cryptocurrency. For sure many business would not agree on it. In my personal opinion, Bank is still the most trust worthy money transaction it is many years ago proved and tested uses of many people all over the world. What if they combine together to have a good transaction in their area it is very good Idea to all of us.

[bep42]

I think hardly banks will disappear because of the cryptocurrencies. Most likely, banks will adopt this technology for themselves.

[Seeker#9]

I think that banks will only be taken a new shape by cryptocurrencies but won't disappear. No need to dream. Capitalism doesn't easily lose or leave its position.

I agree with you sir, banks may be threaten by the popularity of cryptocurrencies but they will not be vanished in the future. The threat of decentralized virtual coins may cause the banks to upgrade their banking services digitally to match the popularity of the cryptocurrencies. Other banks might also use blockchain in the future and create their own virtual currencies.

[sorrros]

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

I think that this is not necessary. Banks will change their position on financial market. We will not need banks for financial transactions. But they will provide other services like lending or investing your funds.

[farlack]

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

I think that this is not necessary. Banks will change their position on financial market. We will not need banks for financial transactions. But they will provide other services like lending or investing your funds.

By investing they will attract a lot of people. Banks and need to invest in them, so to speak laundered money correctly 

[NickoOrteras]

It is impossible to happen bank is more powerful than cryptocurrency.banks made life of people easier but maybe it will also happen but a several years mayne 30 years from now.

[dat.ho12492]

I think that banks will only be taken a new shape by cryptocurrencies but won't disappear. No need to dream. Capitalism doesn't easily lose or leave its position.

I agree with you sir, banks may be threaten by the popularity of cryptocurrencies but they will not be vanished in the future. The threat of decentralized virtual coins may cause the banks to upgrade their banking services digitally to match the popularity of the cryptocurrencies. Other banks might also use blockchain in the future and create their own virtual currencies.

I do not agree, although crypto is probably very well developed but it is not enough threat to bank from now until the future, that is very clear when we look at the number of participants and accept crypto, the number is too low, we only need a survey, we can also judge that crypto is not suitable for the lives of people around the world. People still choose the symbol of government, banks with high reliability, with crypto, that is just a type of investment, a service in the future and can not replace the bank

[makerst]

Cryptocurrencies cause concern to the entire financial system as a whole, this is already clear and everyone understands this perfectly, I’m talking specifically about bank employees, so I think that now it’s best not to trust bankers, because they are very successful in buying cryptocurrencies today

[canaveralnonie]

It will never happen, cause as you see... the bank is more stable and has a good history financial back ground than this cryptocurrency. Also, crypto can be a part of bank transaction ( like in our country, Security Bank )... so it means that the crypto is already a part of one bank and it will never ever be a threat or a damage on those bank around the world. More or less, the crypto will disappear if the scam works is still working on this market. What do you think?

[tonibyuzen]

I think the banks won't disappear. I think what Ripple is doing today is the future of the banking sector. Banks will introduce blockchain and will use cryptocurrencies to reduce costs. We will see Bank cards with cryptocurrency support and will be able to pay them in any store.