Will banks disappear because of cryptocurrency?

[argus312]

The banks themselves will not allow this to happen to themselves.  Most likely they will reorient and begin to develop their Blockchain or something like that, just to not stay away!

[DemonHunter83]

Banks will not disappear. I think that government bodies will not be allowed to do this. After all, it is advantageous for the government to manage people through the banking system.

Banks will not disappear, at least for the reason that the Bank has no money. They're like toll roads in the world that charge you to drive them.

[BloodKnight]

At present, this is impossible. It does not take a long time to grow the encrypted goods. It is not bad for bank cryptocurrencies, they can cooperate.

[Psec]

I think we still need the services of banks in our financial system. Without banks and fiat currencies, the whole global financial system will be in panic mode especially at this time that crypto is not fully adopted as means of transactions. We also need to remember that will can't talk of civilization without mentioning banking system so it will be a very hard to just displace a well founded system like that.

[coinbirds]

Banks will not disappear as they own the infrastructure. In fact they will incorporate blockchain technology into their services. 
The finance sector will change a lot thanks to crypto and blockhain  but they will stay.

[Ingoats]

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 banks would still exist in the future simply because it is an institution supported by the world government unlike cryptos which are mostly decentralized. From this simple reason, fiat as well as banks are more likely to coexist with cryptocurrencies in the future and maybe having a higher chance for cryptos to vanish because of the issues.

[1000 years]

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

Crypto currency is closely related to Bitcoin which is basically not risky because the usage scheme is still small. But that can change if Bitcoin grows significantly. Banks continue to monitor digital currencies and the risks posed. If some people make transactions exclusively using digital currencies, the Bank's ability to influence the needs of this group can be disrupted. So in my opinion banks will not disappear despite the many cryptocurrenci transactions.

[bitcoinst]

At the moment, there are not many alternatives to banks, one of them is crypto currencies, but unfortunately crypto currencies do not have the best status for saving money. Its prone to hacking, if you lose a private key you lose everything, your assets can fall 100% within a month. Now the crypto currency is too unstable to even try to replace the classical finance system.

[Inikoo]

They can live next to each other just fine IMO. There will always be people, who insist to the traditional forms of handling money, or at least for a long time.

[Patmille]

definitely no , banks are essential for the economy, the possible scenario is there would be banks that accepts cryptocurrency, but this could take a long time before it could happen . most goverment are still warry about the volatility of cryptos thats why it would take sometime. unless there would be banks exclusively for cryptocurrencies.

[Iykecolyno]

Maybe the person that passed the crypto information to you sold it with so much hype, If crypto makes banks to disappear, what they will happen to traditional sellers in the remote arrears where there are no internet and networks, what will happen when internet fails or technology gets disrupted. What happens in a traditional market rush where paper fiat will need to serve for faster transactions? Of course Government owns banks and they will never let go even if all conditions are met

[Caelanpelley]

I think the bank will never disappear, no matter how much the money goes. Electronic money is not likely to break the bank. I'm sure of that.

[contactmike1]

I think eventually they will disappear or will be transformed in entites accepting crypto currency as well as fiat money.
But it won't happen soon,maybe in 7-10 years

[Erzinnum]

Why do they have to dissapear? Cyrpto banks will appear. Also, it`s possible that decentralized banks will appear

[Xeon]

I don't think that at the moment crypto currency can substitute the bank system. Sure, that crypto is powerful but now it is impossible. Who knows maybe this will happen in the future

[InGODweTrast3]

I think that the global financial system will resist and will not allow to decentralize the financial system, banks are trying to curb crypto!

[paveel90]

I think not. If the whole world will use only cryptocurrencies at once, it will be very, very difficult. I can not imagine how pensioners use cryptocurrencies, such units. I think there's only about 50-70 years later, not earlier

[danfred]

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 it would be cool and we would forget about the huge Bank interest and would live in peace. In addition, completely disappear the need to go to the banks. But I think it is that our world is not so advanced and not worth thinking about such a scenario

[Komandor8957]

I do not think that the crypto currency will overcome the banking system. All the same people need mortgages, loans, deposits and so on. Who in the crypto currency can borrow $ 50000-100000 to buy an apartment with interest?

[sultanGol]

I could imagine, that banks will have serious problems in the future, cryptocurrencies could truly make them useless. But there is a very very long road until than.