Soon we would not need banks

[carlou]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

Exactly in future times we don't really need a bank, that is the concept of bitcoin and another cryptocurrency to eliminate the traditional banking system to serve less fortunate people that cannot afford to open a bank account due to strict compliance and very high initial deposit the mission of crypto is to let everyone to have their financial freedom.

[Ronaldcoin2017]

I think the bank will still stand for a long time because the world population still needs it. When, when switching from a bank to digital currency technology, it means that all the world's population must have adopted or used this technology, while the fact that this happens is that this technology cannot reach the wider community. still need time.

Well i think we cannot predict what will happen to the bank in the near future. If crypto rise and many people believe on it, maybe we can earn a huge amount of profit and at the same time we can considered crypto as a new bank of the new generation because we can hold our profit or maybe our capital by our self and we can see it anytime anywhere.

[rose9696]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

I think that it is impossible to happen soon, because to change a long-lived generation is very difficult. I think Crypto still needs a long time to develop widely around the world. There are currently too few people in the Crypto market. We need to be patient and wait for 10 more years to get better results.

[bitcoindusts]

I do believe that banks became irrelevant when the peer to peer consensus of the blockchain proved to be just as efficient and secured compared to that of a banks'.

Nonetheless, i think banks will continue to be an integral part of the financial system of any country. As we all know that both banks (centralized) and cryptocurrencies (decentralized) have their own advantages and disadvantages.  More so at the current stage we are in. Blockchain may be as promising as it may sound but establishing, developing and migrating on this technology is more costly than the conventional centralized database infrastructure. Perhaps the best scenario we will see in the near future is that of banks utilizing the blockchain technology.

[Sexie]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

People slowly understand the concept of bitcoin and almost countries now adopting bitcoin. Once the world will adopt blockchain there will the possibility that we no longer needed the banks., especially those medical and humanitarian institutions  in the world.

[Sabana1952]

If banks disappear what will happen to people where they will carry their money 80% of the people of the earth still simply do not know what cryptocurrency and even more so how to use it.

[fonengo]

Hi, everybody. Banks will always be because the blockchain Institute will not be able to replace them completely. We will observe how events will develop.

[aileenc]

Banks will always be there because not all people are interested in bitcoin.

[paulo013]

For me banks will not exit in that way but they will adopt blockchain technology or Cryptocurrency is possible. For my opinion banks will still remain because there are people still living in the remote areas and don't have access on the internet and they have no idea about cryptocurrency.

[Zalaster]

This is impossible for several reasons. Fiat is the foundation of today's economies, so abandoning it will be difficult. Maximum, what can you expect, this is the parallel existence of two systems - the banking (fiat) and crypto currency.

[superman99]

Standalone cryptography is worthless. You can not spend it for regular things without converting it into cash, and for that you will need the bank.

[KotBas]

I very much doubt that there will not be banks. This is not beneficial for the government and for people. I think it will be terrible.

[cmaxwell]

everyone is entitled to his or her own opinion. yes bitcoin is getting to a level of being accept globally/ but it cant take the place of financial banking as of today. we are all optimistic that BTC will be accepted globally and it will break even but not to the level of it replacing financial Banking.

[classictee]

There is no way we will not need bank, bank has lots of purposes to serve as far as crypto is concern. When we need cash, we either go to bank or automated teller machine to withdraw. If not we will not be able to make payment at the local market

[Olayinka225]

I don't think this is happening or even happening soon. Because I still believe that this world still need bank intervention though cryptocurrency might take over but still yet we'll still need the BANKS. There are somethings that the banks are offering like the World bank that crypto can't offer.

[Firefox07]

Banks are well establish businesses around the world. And i think it would not be needed anymore. There are so many people around the world that put their money into banks. And many of them don't believe in bitcoin. So it would not happen.

[annango]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

this is just a joke, if that's true what the world will be like. can't you see the reality that happened?
that we will always need banking even though crypto is a more promising business. interesting fact, that each country has fiat currency and is protected by law. so, I think that is nonsense

Probably it’s such a joke with the current situation of the whole economic development, but it’s possible in the future. People are much prone to convenience, fast and the likes. Especially the advanced technology is going to be more developed, it would be a fundamental reason that may lead people to using online wallet for payment. Crypto will be paved the way for becoming more developed so people will keep an eye on crypto. However, it will take a great period of time because most people in various parts of the world now is just sending money to the bank and majority of people are farmiliar with bank.

[maldini]

I am not sure of this statement, because the bank is still the main axis in financial matters. The bank has an important role until now, even though the technology is not like crypto, the bank will stay alive and will not be able to be replaced with crypto

[Ayush rana]

I think without bank economy can't run for long term because most of the business runs on Loans and for loan they need centralised system or we can say banks .
People need trusted partner for storing their money.

[Btcvilla]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

Source? Who is the "CEO" of bitcoin cash? Roger Ver maybe? If yes lock the topic and pass, no need for further discussion 

I agree with you. This is more about jokes that we often hear from beginners without doing research and displaying links as strong evidence.