Will banks disappear because of cryptocurrency?

[H1N1]

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

For now, most peoples still prefer using fiat currency than cryptocurrency, so i think the fiat banks will stay exist.
But if later the peoples around the world adopting the cryptocurrency, then they will prefer to using crypto than fiat.
If that time comes, it will only the matter of time that fiat banks in the world gonna collapse.

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[Latviand]

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

Many people are now used to online transaction maybe they will lose their interest in putting their money in banks and they will start to get into cryptocurrency. But there are still people who would like to out theur money in banks because its much safer to store all of your savings in banks, so i think banks cannot be disappear because of cryptocurrency.

[jozymens7]

Banks represent a reserve for fiats where cryptocurrencies cannot be put. I believe that not all people will join us in this crypto business so there is no way this is going to happen. I have heard somewhere that some churches preach against the use of cryptos because they think it is the market of the beast the is going to be used by  the anti-Christs.

[daniel2023]

Banks can not be closed because of cryptocurrency, government parastals will still use their traditional financial system. Crypto will be dominated by entrepreneurs and P2P transaction.

[terra_vival]

I think not, rather the banking system is evolving and reborn taking as a basis cryptocurrency assets. In principle, we are already seeing how banking projects in cryptocurrencies are progressing.

[babicena14]

Cryptocurrency in the near future will not be able to compete with banks or become a substitute for them at the state level, as any Bank is centralized, and its customers can not be anonymous. But at the same time cryptocurrency allows you to manage your funds without resorting to the services of the Bank. Therefore, for some people, with the advent of cryptocurrencies, the future has come now, and for supporters of the banking system, it may never come.

[YinShuiSiYuan]

Banks will never disappear because banks also accept cryptocurrency and one of them is bitcoin. Because in other country bitcoins also accepted by banks that you can withdraw and deposit.

In my opinion that could happen if the bank would be lost due to cryptocurrency but before that crypto must be more stable because not everyone likes investment and only likes to save their money so if crypto is still unstable the bank will still be there.

Banks will not disappear because of cryptocurrencies, which are a small competition for them as yet. Banks are an important part of the global economy. It seems more likely that they will adopt blockchain and use it to improve transferring money.

[karma_project]

Banks will not disappear. I think that cryptocurrency will never replace fiat money. Government agencies manage people through banks and the system of fiat money. That is why the cryptocurrency will never replace a centralized currency.

[nwosuchristabe2]

In my opinion, banks will exist simultaneously with cryptocurrency and many banks may own their cryptocurrency. The possibility of Bitcoin and other cryptocurrency replacing fiat is very slim, because people still need a currency that they can see and touch. Governments may even have their own cryptocurrency, but it will exist together with fiat.

[NynaHoney]

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

it seems that the opposite is true if crypto is in a public bank, making the bank experience profits because of course there are discounts or others when we transact through the bank, all banks will benefit from the arrival of crypto, of course in the future many banks can use crypto to serve the people who used to use the bank when making transactions.

[Bes19]

Ofcourse not. It will never happen but instead bank will adopt Crypto. There will be a mass adoption within the bank and Crypto and everyone will surely make a profit from it. It will be very helpful with everyone that's for sure.

[B.]

not the other way around is the bank that will benefit if it transacts using crypto because there may be a system where the bank will benefit by working with the crypto and the community will often use the bank later that is the investment the bank looks forward to in the future

[Jpti]

I do not think so at least in the nearest future. As cryptocurrency is child and is growing very gradually. The world and the people are just accepting it in a way or another realizing its importance and relevance. Cryptcurrency has a long way to go before replacing banks. But in my view, both banks and cryptocurrency have to work in collaboration to give much needed fast and hassle-free service to the people across the globe.

[MOProgress]

In response to this topic I want to say that banks will not and cannot disappear for any reason, I feel that banks will soon be working with cryptocurrency to make it stronger.

[trickyriky]

Banks are not afraid crypto currency and bitcoin because that they are protected by the state. Oposit - the owners of crypto currency are afraid that banks can destroy it.

[znation]

Although blockchain technology is constantly evolving, more and more countries and large businesses start accepting and applying electronic money, but banks have their own advantages. I think that in the future, electronic money will coexist with banks and maybe banks will launch their own electronic money and that is unlikely when the bank disappears and is replaced. by cyrpto because the bank has a close relationship and relationship with governments.

[Abal Abal]

I am sure the bank will never disappear as long as the bank wants to move forward following the development of cryptocurrency, for example they add functions as exchanges or create new crypto. but if they keep quiet then the bank will really end.

[Juggy777]

Banks are not afraid crypto currency and bitcoin because that they are protected by the state. Oposit - the owners of crypto currency are afraid that banks can destroy it.

Hey yes you’re right banks need not fear crypto’s as they’re proctected by the state, but when the state legalises bitcoins there’s bound to be competition which may have an effect on banks. I don’t agree with this statement as bitcoins doesn’t need approvals of banks to function, they are held and stored without the need of a bank. However I feel banks won’t disappear as now many banks are adopting bitcoins, and even offering service relating to bitcoins.

[Larryrich63]

Banks will always be around beucase there are still a massive amount of people who dont trust crypto or understand how it works.

[imsotiredofmoviereboots]

If I am a multimillionaire or a billionaire, I will pick cryptocurrencies over banks when it becomes mainstream. Because I won't have the struggle of having a lot of bodyguards in me whenever I want to withdraw cash and carry it's heavy weight or the same whenever I want to deposit. Banks will not disappear but it will be unimportant in the future and very weak.