Will banks disappear because of cryptocurrency?

[kenharry]

Cryptocurrency cannot push out banks for the following reasons. 1. Banks are  established by authorisation of government and government will go a long way to protect it. 2.The public confidence built by crypto is not is not enough to command public patronage. A lot of enlightenment need to be done. Though both are in finance their modus operandi are not the same. 4. Fiat money has more stable value than money. the volatility of crypto has made it impossible to store for a long time.

[pro army]

Banks will not disappear. If care is not taken, Banks will begin to offer blockchain services.

[bibka33]

I think that most likely it will not lead to the collapse, because they will find a way to adjust and adapt to it and coexist peacefully.

[GazorpPozorpec]

I think so, Yes. Probably in 30 years there will be no banks, because why carry the money to the Bank that can go bankrupt and take your money if they can be stored at home in coins and not worry about security??

[Kuchiyose]

I think so, Yes. Probably in 30 years there will be no banks, because why carry the money to the Bank that can go bankrupt and take your money if they can be stored at home in coins and not worry about security??

It becomes one of the problems that arise with the existence of crypto at the present time but everyone will be far away thinking to not produce losses that are deducted by the Bank for tax payments.

[Rsamunios]

This is a state level which do not have the strength of the entire crypto community, so the banks in relative security another 50-100 years, and then who knows what will happen.

[beeelzebub]

No they won't dissapear but they will adapt.

They will change with crypto, but this needs some time.

[gangem07]

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

No,it will not happen even cryptocurrency is become more useful in the future.I think governments will not allow it because not all people in their community is widely adopt cryptocurrency and everything will go under government approval.

[maiden]

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, and that will not happen because bank is the major source of funds and way of saving and transfering money. It will not gonna happen because not all people are in crypto industry. I think bank adopts the cryptocurrency and will offer blockchain services in the future.

[Benladeng]

Today's cryptocurrency is more like an investment product than a value-added product. It cannot replace the status of a bank because not everyone is willing to participate in investment coins!

[Michelecako]

Banks will not disappear. Mankind needs to give money at interest. There will be another event - the banks will move to work in crypto space. And what kind of bank it will do first - it will have an advantage.

[CryptoRama]

NO?  Did resources and coins(real metal coins) dissapear when paper money came to existence, and before paper money the coins came? I mean it's still practical!

[luckydevil2021]

I doubt it a lot, banks have been institutions that are present from ages before Christ, so they are quite rooted in our culture, also I think bankers are smart enough to know that they have to adapt to the new eras, the most likely scenario is that they implement the cryptos as investment funds.

[royalcrypt]

If we want crypto to surpass fiat then it has to perform better than the alternatives. We need a blockchain that can process millions of transactions per second and be easier to use than a credit card. It also needs to be accepted by as many merchants as possible.

[Thai19]

The collapse of the banking system is unlikely, because until now very few countries have allowed the use of coins, to replace the cash.

[Jwnamlinz]

I don't think banks will disappear because of crypto but I believe they will have a great competition and they will be forced to adapt to the use of block chain technology.

[ginobitcoiner]

The collapse of the banking system is unlikely, because until now very few countries have allowed the use of coins, to replace the cash.

I also believe that the bank will not be deterred by the circulation of crypto currencies, moreover that not many countries accept crypto currencies. and I am sure the bank also has excellent stability with FIAT currencies in each country because FIAT currency will never be replaced

[kramchers]

Banks will never disappear!!!
They are one of the genuises in this world.
They will never be gone in thos world.
They will.adopt the technology and go with it.
They will join the run of cryptocurrency soon.

[mambA98427]

Crypto currency will never kill the banking system. Paypal and banks work in parallel, without interfering with each other

[Honourable11]

Banks won't disappear because of crypto currency, because when etransaction (online banking) is rampant it does not stop people from going to bank and bank didn't shut down. The only thing the banks do is to upgrade to the new development and even aid it, making it convenient for their customers to perform their online transaction ,so I think the bank will also encourage crypto currency and support it to the fullest.