Will banks disappear because of cryptocurrency?

[UAE Seasider]

I don't think that will happen and certainly not anytime soon, I think the two will co-exist for a long time and find different uses. Some governments are already pushing for a cashless society, Sweden is quite far down this road but they are using cards linked to bank accounts still. Banks have diversified from the original concept of storing and loaning money so they will be around for some time to come.

[Jenesis]

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 no, even though cryptocurrency is great and has a lot of interest, it will not destroy the banks that the government has trusted, and in the future they will cooperate, between crypto and the bank will establish cooperation, then the bank can launch crypto.

[qidai9]

No, when all people know the cryptocurrency, some people still choose the bank, because it should be the state. First, the state does not allow to lose its own interests. The second bank has always been the safest place to store itself.

[Jekbolt]

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

Banks will not collapse. Instead, they will be adopting blockchain technology to cut their costs and in order to survive.
Many fintech companies compete with banks by providing segmented services (for example micro transactions); so,  banks have to change to stay on the market.

[Boris_sahnevich]

At the moment, too much depends on banks, so I do not think it's easy to displace them or destroy their organization. Moreover, not all people are positive about crypto-currencies.

[klebsiella]

No, cryptos cannot make banks disappear. Although cryptocurrencies are gaining popularity across the globe, it is not acceptable globally. There are places that bans the use and transactions of these coins. And not all people have access to computers and the internet, meaning they don't know these coins exists. Fiat or paper money is what is being used worldwide, so banks are here to stay.

[KimJonnan]

No, people need banks, and cryptocurrency is just a new type of coin. He also needs the bank to manage in the future.

[Mt. Dempo]

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 think so, but banks will consider partnering and maybe will build their own platform on blockchain technology.

[vladuch1]

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 at the moment the banks do not disappear precisely because of the crypto currency, but in the future it is possible. People will simply do all the transactions without the participation of banks and banks will disappear

[CAPTAINPLANET]

Absolutely Not . Still many community yet to accept and believe in cryptocurrency, so disappear bank is not practical at all yes they will suffer for sure in near future because crypto.

[Trainer75]

I do not think so. Even if it happens, it will take years to happen. Recently people do not have a great belief in electronic money. So first it would have been the trust of the people. But one thing can be said. Everything can happen in this world

[AzrailBogov]

In general, of course, if the crypto currency was fully accepted by the legislations of different countries, then we would not need banks. Agree that this is a waste of time

[CLywaTeLb]

No one wants to lose a piece of meat without a fight. The best, mild scenario, this integration is crypto in the banking system. Will the cryptocurrency keep its qualities while doing this?

[longminh123]

In general, of course, if the crypto currency was fully accepted by the legislations of different countries, then we would not need banks. Agree that this is a waste of time

I think it will take a long time for this to happen as most governments around the world have a very bad view of Cryptocurrency and see it as illegal to use them. I believe it may soon end soon as most of the investors are entering this market more and they are free to finance without any problems.

[iAleff]

I think that a colapse come soon!!

[bit..what?]

Banks will make sure they do not go down because of crypto currencies.
They earn too well and have too much money to be easily displaced.
I think rather, both systems will flow together and banks will also use crypto.

[whofeelsitknowsit]

I am not of a mind that crypto and fiat are mutually exclusive, so I would say no.

[runor]

I think that the banks will soon go far into the past and give way to crypto currency!

[ubay]

I don't think that, banks and cryptocurrency will go hand in hand but still compete in technological developments, including many users, and financial security solutions. And for me, cryptocurrency is better than banks for now.

[Baekhyun]

The bank will not collapse, the bank system strongly supports the economic system of a country and even many governments use banks as a means of procuring the economy such as employee salary payments, and other services. The government will continue to use the bank because the system is centralized and can be monitored, crypto domination will cooperate with the bank system in the future so a regulation is needed to regulate it all.