Will banks disappear because of cryptocurrency?

[bonyaserg]

I think that banks are unlikely to disappear because of the crypto currency. Since they too will come up with their new system with crypto currency. And they will also turn their financial, banking business.

[LuciferMorningstar]

Your best example on this topic is China. They don't use the paper money on the daily life any more since there is already digital service to transfer, pay with just a few steps with a mobile phone. So I don't think even with the dominant of cryptocurrency, banks would disappear like that.

[Jamesdila1]

NO. Banks are doing much better service . not just storing our money. now also some banks are working with crypto. So i think banks will be more helpful for crypto related work too

[waitinglist]

it will not happen even if the cryptocurrency will develop. if it works together it will most likely happen.

[andeonnut]

So for example is Coinbase a bank? Because its pretty much a layer 2 solution to bitcoin that holds your money.

[Aligab166]

Banks will not totally disappear because of cryptocurrency. This is because the Fiat will continue to remain in circulation and it will still require the services of the banks.

[anobtc]

Nope. Because i think banks can apply blockchain technology for transfer money, and we still need fiat money for daily spending. And no any government want to lose their control with currencies.

[Euroda]

I dont think so because it is much better to store you money on bank because it is safe totally safe they can be taken by someone else unless someone rob the bank or the bank goes bankrupt but it is rarely to happen

[so_stupid]

banks are still performing those functions that are not capable of crypto currency. and banks are directly supported by states

[venlussbuck]

I do not think so. Electronic money will contribute to strong growth in the field of transnational payments, if no national bank, the backup is currency, and payment transactions in the country will be like?

[elamachain]

Though I generally agree with lines of arguments that "banks will exist," I doubt that bank exists in the future, after crypto-revolutions, will no longer be "the bank" what we think it is now. Some says banks will issue their own cryptocurrencies or at least accept them as part of their system. I agree with them and it will happen in very near future. After that, very nature of cryptocurrency and its underlying philosophy - including that of blockchains - will sooner or later infiltrate to the old system and change it dramatically. The bank of that era may still exist as an institution, but its role or method of operation will not be something we see in usual banks of today.

[libert19]

Banks are deep rooted, they can't be removed easily. In future, we might see banks and cryptos co-operating.

[Jericka D Ranillo]

No never, bank have a good help for everyone and also crypto currency. Even crypto come on a time where all of us know bitcoin and how it use as a wallet or like a bank. There will be people whose like to save money in offline bank. Not all people capable to learn crypto currency. Its is technologicaly way of banking and most are still not close on what wr have now

[Ostonian]

Most likely this will not even come to the end, as it is profitable for banks, you can exchange currency with a big difference. And in a short time it seems to me that some banks will include a cryptocurrency.

[cabron]

Well Mr. frost the banks are going to find their way to be relevant along with the cryptocurrencies, you can tell it by the projects that are currently doings some ICOs which some of them are connected to banks and credit cards. The adoption of some projects like XRP or probably new ones like crypto banks are not going to make banks disappear. Banks are established by wealthy people in the world, they can even buy all the existing BTC just to calm all their worries but that would be pointless if they figure there are lot more cryptocurrencies.

[WalkerIVIV]

So for example is Coinbase a bank? Because its pretty much a layer 2 solution to bitcoin that holds your money.

Is this for real? Someone has considered the coin base is the same as bank? that's a joke dude. It looks like you didn't even understand what he was talking about. Coinbase is only an exchange site and there was no any correlation if that can become a bank. Bank us a regulators support and this will be so difficult or even impossibvle for crypto to replace it in the future.

[askmecrypto]

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

Did Gold or Silver disappeared after Bank came into picture? NO
Similarly, FIAT cant be eventually replaced with cruptocurrencies. Though a mass adoption can bring a high usage of crypto currencies, but will it replace traditional currencies forever? I doubt it, and I will stick to NO.

[armarsterling7]

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 do not think the bank will collapse. Because the security of the wallets and the trading floors is low. Hackers easily penetrate and steal money from investors.
I think the bank will take advantage of blockchain technology to grow stronger in improving transaction speed and transaction fees.

[khoipm]

I'd say no, banks been here for way too long, rules and regulations are clear. Banks are a much more solid option if you want your money to be kept safely.

[jonaire99]

Banks existed long time ago before cryptocurrencies came out and they became the leading financial institutions until now. Banks already cemented their hold in the financial world so they will never disappear. They can also evolve by transforming their banking services into digital services similar to that of cryptocurrency. Bigger banks can easily make their way to cashlless transactions and offers wide variety of banking services that can match cryptocurrencies.