Will banks disappear because of cryptocurrency?

[JayTrain]

It is difficult to talk about the complete disappearance of the entire banking system, of course, there are many reasons, for example, as many have written here - it takes a long time, I think that crypto, like ordinary money, will exist nearby, and crypto will become more common.

[hovrah]

It is difficult to talk about the complete disappearance of the entire banking system, of course, there are many reasons, for example, as many have written here - it takes a long time, I think that crypto, like ordinary money, will exist nearby, and crypto will become more common.

If we talk about the full transition of all mankind to cryptocurrency, there will be a complete rejection of paper money and banking system services, then for that not only a lot of things should change at the legislative level and internationally to cryptocurrency, but also have to change several generations today, almost half of all humanity is not ready to use cryptocurrency in real life.

[aliceHortrex]

I think the bank will not disappear, because until now there are still many countries that have rules and restrictions on cryptoccurency. And because the role of the bank has a huge influence on the economy of a country.

On the contrary, I think that in the coming years, banks will use cryptocurrencies as partly as banking assets, they will trade at least as a minimum.

[boris singer]

I think the bank will not disappear, because until now there are still many countries that have rules and restrictions on cryptoccurency. And because the role of the bank has a huge influence on the economy of a country.

On the contrary, I think that in the coming years, banks will use cryptocurrencies as partly as banking assets, they will trade at least as a minimum.

valid media transactions and officially monitored are banks, exchange markets also still need them. The decision that will occur if it is indeed possible is the adoption of a new system with cryptocurrencies and the main factor that gives a positive signal depends on the agreement of the government. If indeed it is only directed at assets, it will be very easy actually, but not as simple as that because crypto characteristics also have the same properties as fiat.

[chocopapaya]

Nah, instead, banks will adopt crypto.

Banks, in the end, just like everything else is a service.
They provide you with storage of your money and potential to earn interest and take out loans.
In return you let them use that money for all kinds of capital investments and gains.
You can take out your money anytime, but if everyone tries to do it at once it won't work.

Even with crypto, there will always be a demand for this kind of a service because its easy and stress free.
Even if it is smarter and more profitable to have brokerage account and use your money to buy stocks, how many people do that?
The vast majority of people just want a place to put their money there and forget about it.

I can see the future as blockchain being a fundamental part of all businesses.
It makes things way more streamlined and cost effective.

[jvper]

Banking, in the sense of an institution that borows from liquidity providers and lend to liquidity takers, will always exist somehow as there will always be a market for credit, but they will need to adapt to a new world with fintechs squeezing their margins and offering advanced products.

[sorrros]

They are so big and have so big influence that this will definetely not happen.
But I think that there will be bigger competitions between banks and cryptocurrencies and maybe in the future banks will be here only as an advisors how to invest your money

[Lolox]

Now we can see in the real world that Cryptocurrency does not affect the condition of the Bank. And Cryptocurrency cannot replace the Bank because the system is different if I think. But we must admit that Cryptocurrency has a very good system, but the security level is still very weak.

[yingfeng]

No I do not think so. Many banks are already working with cryptocurrencies. Banks will simply offer their customers with cryptocurrency services (deposits) in the future.

[cherryganda]

Banks will never disappear though they will change their system.
They will adopt the system of blockchain and cryptocurrency just for them to stay and hold by the people.
In this world we dont need to die (business), all we need is to adopt and make it better.

[yescrypto]

That's never going to be, bank has been a long time coming thing which can easily be fade away just like that, i think it is crypto that will have to move into the bank and not bank going for cryptocurrency. Banking are more trusted till date unlike crypto where millions can be lost in a minute by mistake.

[LinkinPrak]

The development of the crypto currency from time to time shows a positive direction. More people are getting to know crypto currencies and using crypto currencies for various transactions. The convenience offered by this crypto currency makes people want to continue to use crypto currencies. A lot of cooperation is woven crypto currencies with international businessmen in terms of food or buying and selling goods. But not all countries give legal status to this crypto currency so that the bank's position as a place to store money and financial controllers is still safe and will not be replaced, maybe still in 10 years. But after that the bank must be careful because the presence of crypto currencies is very likely to shift the position of the bank.

[cheezcarls]

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 honestly think that banks isn't going anywhere for a long while. With the emergence of cryptocurrencies, it's either they would fall behind or ride on with the trend. It seems that not all banks are against cryptocurrency and blockchain. In the Philippines, Unionbank was the first bank to welcome cryptocurrencies in their system. Because of that, their first crypto ATM will be launched and in full function within this year.

I understand why a lot of banks are against it because of being a threat to their system, especially when it comes to transferring funds from one bank account to the other. Once they understand the technology and embrace, there is no doubt that the banks would be here for a very long time. For me, I think they're not going anywhere.

[shillerguy020]

That's never going to be, bank has been a long time coming thing which can easily be fade away just like that, i think it is crypto that will have to move into the bank and not bank going for cryptocurrency. Banking are more trusted till date unlike crypto where millions can be lost in a minute by mistake.

Banks have a huge history behind them and they always survive, they have a lot of leverage and cryptocurrency in its current state with this system can not cope in any case

[X-ray]

I think the bank will not disappear, because until now there are still many countries that have rules and restrictions on cryptoccurency. And because the role of the bank has a huge influence on the economy of a country.

On the contrary, I think that in the coming years, banks will use cryptocurrencies as partly as banking assets, they will trade at least as a minimum.

valid media transactions and officially monitored are banks, exchange markets also still need them. The decision that will occur if it is indeed possible is the adoption of a new system with cryptocurrencies and the main factor that gives a positive signal depends on the agreement of the government. If indeed it is only directed at assets, it will be very easy actually, but not as simple as that because crypto characteristics also have the same properties as fiat.

Almost all of transaction that not use blockchain will be monitored by the banks. But the anonymity has become the main concern for the government. Rather than fiat and crypto is more to become commodity. That should be correct dude.

[Irvinn]

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 don’t understand why some people believe that banks can disappear due to cryptocurrency. Banks perform a lot of functions that cryptocurrency can not perform by nature. Therefore, banks will continue to exist peacefully. In addition, state-owned banks are actually part of the state itself and the state will destroy anyone who tries to destroy the banking system.

[Loedong]

it cannot be attributed that banks and crypto will dominate each other while they are conflicting and clearly different. for example the crypto digital world - real world bank, this little thing is also clearly different, I don't think it will happen and while crypto is also not widely known.,this is just my personal opinion.

[centhiniz]

in my opinion, the bank will not be harmed by the presence of crypto, instead the bank actually helps if there are people who want to exchange their country's money with crypto or vice versa so, the banka also profit and other parties also profit,

with crypto now it makes it easier for someone to do activities buying and selling online and others.

[Alucard2425]

I think bank will still remain and i think they will just adopt to crypto and release a stable coins

[Rooster101]

it cannot be attributed that banks and crypto will dominate each other while they are conflicting and clearly different. for example the crypto digital world - real world bank, this little thing is also clearly different, I don't think it will happen and while crypto is also not widely known.,this is just my personal opinion.

I agree with your opinion and I believe that while cryptocurrencies are getting popular worldwide, banks will also stay as usual in their business. Majority of the people around the world will still rely on the banks and just like cryptocurrencies, investors will continue to support them. Banks can also match the services offered by cryptocurrencies by adopting the blockchain technology to create better and faster banking services.