Will banks disappear because of cryptocurrency?

[rdewilde]

Any hypothesis can be possible. Who knows after banks disappear, we will have a new kind of "bank" in the crypto world?

Banks existed long before the crypto appeared, so stop the illusion and think that the crypto could make the bank disappear. Remember that crypto is nothing compared to banking. If crypto grows and is used by many in the future, then the bank may apply blockchain to their system

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[jt byte]

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, they are smart enough, if cryptocurrencies will be dangerous for them, they will buy cryptocurrencies and offer them. They will continue in the same job, they will offer crypto loans, they will invest crypto, they will hold your crypto in "safety place" and so on.

[oOVVVVVVVOo]

   The fact that I decided to play with tokens by speculation with them is one thing. And the use of blockchain -technology by banks - is another.

[Mr.Noda]

While there are willing to take loans will not disappear. Banks is also a good manipulator in essence. And while there is cash, there will be banks.

[Galley]

It is unlikely that banks can threaten that from the side of cryptocurrency. Banks have existed for many years and at all times they were followed by people who wanted to have as much control over society as possible and they would not allow competition from decentralized structures.

[dagelan]

I think the banking industry will not be replaced by crypto, crypto is just another alternative that is present as a choice of tools and how to transact

[myhollymamy]

Banks will never disappear because they have been building their system for many years. High level of protection is proof of that.
And in case of problems, they always have someone to turn to.
And if, for example, funds from the same cryptocurrency wallet are lost, then nothing can be fixed.

[Patrix_1]

I think they will find an option. If the crypto currency will become mass adopted, the banks will switch to crypto currencies and will create their own. Just look at Ripple, if the mass adoption happens, a lot of banks will simply use Ripple.

[vigmar]

It would certainly be good, but I don't think that banks will back down at least in the near future. It is highly likely that they will introduce the blockchain technology in their work.

[Invigorated]

Let's face it, The crypto technology is outstanding and pretty impressive with its lots of advantages but going as far as saying or thinking cryptocurrencies will chase our banks or put them out of business is far fetched and plain wishful thinking. It will be completely impossible at least in the near future to see crypto ending banking activities. The truth is, not everyone has an idea what crypto is also, the guys on wall street and Major financial organisations will not want this to happen. It going to take a lot of effort to realise this dream.

[spaso_87]

the Bank will continue to exist and it will be accompanied by an increasingly good in cryptosystems using them. even sure technology such as blockchain will be able to help the bank's performance is also getting better. balanced with crypto then this will get better. When the replace of course not because every country had certainly will let banks in the countries they cover with easy because of crypto.

[jpnl0006]

That is almost impossible to think of cause the bank has its own function like wise cryptocurrency has its to but rather i think the bank can adopt the system of cryptocurrency.But banks can not go extinct at all

[Isiaka208]

Unfortunately, banks will not disappear because there is a new boss in town. In the grand scheme of things banks will further adopt the new technology and leverage in it with their already existing knowledge of finances.

[adzino]

No banks will not disappear but they will embrace the technology. Banks will make use of crypto to make more profits and safe itself some cost. It will be unwise of banks to throw off crypto. We can now see banks using xrp to make transactions and to save remittance cost. Blockchain will transform every financial part of our society.
As my friend always say crypto will do to banks what email did to post office.

It would be a really bad idea if banks integrates with these technology. Banks and bitcoins/crypto-currencies does not go with each other and there is no way they can work together. Crypto currencies are meant to be decentralized. If banks get involved in this case, then the technology will no longer be decentralized since there will be control of the bank making the coins become some what centralized system. Better banks stay away and do not involve themselves with crypto currencies.

[fumblingperch]

I would rather believe that banks will trade cryptocurrencies than that banks will disappear because of them, as the banking system is one of the most durable and stable in the world.

[Gifolote]

I believe that banks will always exist. as well as money with which banks work. cryptocurrencies will not replace the money.

[houjinglong]

This is definitely an impossible event. Be aware that cryptocurrencies are only part of the financial industry. The bank is the financial founder of the entire world. The position of Bitcoin in cryptocurrency is as unshakable as the status of banks in the financial industry.

[eka rock69]

I think the bank will still be there, because banks and crypto each have a different role and people - people also still believe in banks to save their money, banks or cryptocurrency will last for a long time

[Mytoken]

This is impossible, because there are not many people and countries that believe in cryptocurrencies, and cryptocurrencies exist in the Internet, and they are full of hackers! Banks are not willing to take on such a big risk!

[chairmanMao]

The banking industry can continue to survive for at least a thousand years in human civilization. It is dangerous to cancel the banking industry now. Please note that people usually need division of labor management to better develop humans.