Will banks disappear because of cryptocurrency?

[pharaon]

Theoretically, this may happen in the future, but at the moment it is hard to believe, since the banking system is the basis of the world economy.

[ityandsyn]

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 reasons that a conventional bank will be disappear because of  cryptocurrencies , besides in some countries , they are integrating a cryptocurrencies and Fiat money in the bank.

[Maymuna]

Well i do  not suppose in order that the bank can dissappear thanks to  the crypto there area unit still heaps of individuals World Health Organization feel safe once they save  they cash on the bank however still it's rather more safer to save lots of your cash on that than crypto however crypto isnt that dangerous further

[ACTrend]

Hello! Perhaps this will happen in the future, but the state banks will remain. Perhaps they will introduce their own crypto currency, but the state will not go anywhere.

[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

I dont think there is ever a possibility of this happening.
Did bank industry made a collapse to gold or silver? NO

Similarly, every financial instrument have there own value, there are chances that cryptocurrency may take over FIAT in general usage (this too have a very small possibility), however, making a total collapse, its impossible in any means.

[Lagduf]

Theoretically, this may happen in the future, but at the moment it is hard to believe, since the banking system is the basis of the world economy.

Theoretically, that's hard to happen. Just think of it, so many people are still exchanging there bitcoin to usd every they want to and it's somewhat the point of why people are getting involved into cryptocurrency. At the end of the day, people coming to bank again. if bank could be replaced by decentralized blockchain that's good. But lets be realistic, people are still too dependant on bank.

[iljamlnk]

I think that's unlikely.The government is unlikely to allow.But if it ever happens, it won't be soon.

[smithelemuo]

No, I exceedingly doubt it. crypto framework tends to encourage exchanges without the use of banks. Individuals tend to disregard the way that anyplace where one executes an incentive in various structures unavoidably frames an economy. Banks are only one of the elements that impact economy. Banks keep running inside an alternate sort of economy. Banks are intended to shield individuals' cash, loan a similar cash to individuals that need them to gather premium and in the end have the cash pivoted inside to produce greatest esteem per turn.

[The Scorpion]

Banks will have to either join or die in this new digital economy. The ways of the world are changing right before our eyes and it's exhilarating! but it will take time.

[fastrabbit]

I don't think that bank will disappeared Bitcoin will work as medium of exchange. And Fiat currency will be grow on their own space.

[Madagaskar]

I do not think banks will ever disappear. it seems to me that the bulk of people have not yet matured for this. And if this happens, it will not be soon.

[Dacosta Osei-Tutu]

I do not think Banks will disappear because of cryptocurrencies because there are still some people out there who do not believe in crypto and will never invest their monies into it.

[Starfranko]

I don't see banks disappearing. Even with massive adoption of crypto-currencies the two will coexist but perhaps banks hold on banking may not be as predominant as they are presently

[lukeclick]

No. No, I don't think that banks will disappear just because of the existence of cryptocurrencies. I believe entirely that they play different roles and functions, and I do not see the possibility of one dying solely because of the existence of the other. Banks are here to stay regardless of the evolution that cryptocurrencies are bringing to the world.

[JohnMacZeppelin]

Banks will sooner or later verify crypto-currencies, so to say that they will destroy them or something like that I think about it is not unnecessary to say, because it obviously will not happen, banks will actively use them.

[Hakinsola19]

Banks cannot disappear because of bitcoin, banks have their own relevance as well. The way things are changing into the digital world is serious. For the banks, its not possible, they will still remain.....

[btcformula]

Bank will not disappear but the way of there business & transaction that will change. They will support blockchain & accepting regulated cryptocurrency.

[bolajiy123]

i really dont think it would make bank disappear, because the banks provides lots of different financial service which crypto can't for now, not if they develop that tomorrow

[patrickj]

I don't think so with due to crypto and blockchain innovation, I think a bank framework is substantially bigger than the crypto business. Perhaps the innovation will be embraced by numerous money related parts later on, however the Bank is a framework, with controls and premiums that won't be supplanted by an immediate exchange framework.

[jagdeepjd]

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 have a role to play in future also for sure even if the digital currency is recognized as legal the banks will integrate and implement blockchain into their system and coins like ripple will help to serve that cause.