Will banks disappear because of cryptocurrency?

[Alexey1]

I think this will not happen in the near future as the cryptocurrency is not able to replace fiat. Banks can always exist, as the theater is not dead with the arrival of the movie, and the Bank will remain when people start to pay only in cryptocurrency.

[ven7net]

The fact is that banks are state financial structures and so simply they will not disappear. As for the domination of cryptocurrency over banks, then most likely everything is just the opposite, banks are trying to integrate cryptocurrency into their system, which gives you the opportunity to continue to dominate over cryptocurrency.

[organelles]

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 the coins will not make banks disappear. Believe it or  not, despite that fact that cryptocurrencies pretty much makes you your own bank., there will always be people who will need help storing their money and that is the reason why banks are always going to be relevant. They will always be here, they will just have to switch to storing cryptos for people instead of cash.

[a2offrb]

Only few Governments of the world had wholesomely accepted Cryptocurrency in their Economy. The Banks are regulated by Governments while Cryptocurrencies are deregulated. Based on this, hardly could Cryptocurrency wiped out Banks existence, not until when probably all the Governments accepted Crytocurrency later in future.

[Dim4ik]

I would be very happy if the banks would leave our lives because all banks are very carefully collect information about us which is not in the cryptocurrency world. Therefore, I am for crypto currencies and not for banks

[mainthread]

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 this situation will never happen. Governments will control financial flows forever. I am inclined to believe that crypto will be an alternative to fiat currencies. No more.

[EmmaBen]

A question plaguing the minds of crypto enthusiasts and investors!
I think it is still early to give a definite answer, and that it really depends on the success of cryptocurrency in general with regard to its acceptance and adoptability. And this changes are revolutionary, subject to many years of transition. Many people with knowledge of how blockchain utilises cryptocurrency and operate are even subconsciously opinionated about a future possibility of a paradigm adjustment in e-commerce, e-transactions, etc, to accommodate blockchain. Whether this accommodation will be whole or in part is purely subject to education and a mass willingness to accept blockchain.
One should also not forget that blockchain, good willed as it is, poses a serious treat to the further existence of large, powerful multinational financial organisations, and it won't be uncommon nor surprising to see a fierce opposition to this "something with the audacity to threaten an overhaul of the status quo and to establish a new order". Everyone knows what happens with revolutions. Or, history will educate us more on that.

[Bitgopix]

A cryptoresource must do large-scale work, but ultimately it will be able to provide the benefits of Blockchain, providing safer, faster and more profitable transactions compared to banks.

[HichemFetoui]

i think yes but surely and slowley they will tokenize their services and enroll in the tokenized and distributed economy wish you a nice day my friend and trade well!

[Destroyeroff98]

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, the banks will not disappear. Some banks even buy Bitcoins and other cryptocurrencies themselves. Professionals of the business work there and know what to do, so that there is no collapse.

[yanesna3]

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

Bank system is very old and experienced one. I don't think that it will fade away in near future. I am not thinking about it seriously telling the truth. But cryptocurrencies are really representing an alternative for banks.

[Catswold]

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!

[slasher0489]

I don't think banks will disappear because of cryptocurrency, maybe people would rather choose crypto than banks and the banks have less users because of the popularity of crypto.

[CEOKEY]

In my opinion, electronic money can become the future of the financial industry. At this point, electronic money will be accepted and supported by governments. Therefore, the bank will not be lost, but will shift to digital technology to match the market and state regulations on electronic money.

[pedpedped101]

No...because this is two different organization and it can't try affecting each other in one way or the other. I could suggest your question could be, which one is preferable to save or invest in, crypto is growing daily and yet to attain satisfaction which means bank has been in existence in a while which means it can't be forgotten as you think. Banking system is different from technological aspect. Like I work with the two because I guess they work for each other.

[Btcjunpitz18]

No, because banks nowadays are innovating on how people or their clients will interact easily. They will make sure that their clients will have easy payments and no need to be hassle up.

[princeyeboah]

Banks and crypto will coexist because the banks have the full approval of the governments in all countries. Besides banks and crypto have their own special features which make each one unique in providing a particular service. Crypto will rather grow in much significance to meet its adoption by the banks into their services.

[andeonnut]

As the legendary Hal Finney said back in the day -- banks will be built on top of Bitcoin. I think it's wild to think everyone will be self sovereign.

[blockchain-man]

The digital financial industry will gradually dominate the market. At that time, governments accepted and adopted policies to promote electronic money. Banks will continue their work under the management of governments but require banks to make the transition to digital technology to fit the role of digital financial markets.

[iqlimasyadiqa]

In my opinion, electronic money can become the future of the financial industry. At this point, electronic money will be accepted and supported by governments. Therefore, the bank will not be lost, but will shift to digital technology to match the market and state regulations on electronic money.

This Yes can be referred to as a transition or renewal of the financial system. We need to demand that the government immediately implement the financial system of the digital currency. If this can be implemented properly, then it is likely that someday we will face the digital era much better and the calculation of digital currencies can be the main financial system in the future !!!