Can blockchain replace bank?

[BravO_o]

It is unlikely that it will be able to replace it, because the Bank is interest rates, jobs and so on. Also on all people there is information, there is a history. And bitcoin provides anonymity

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[conected]

I think that everything is possible. we never know what may happen next. To my mind, the blockchain technology is the best one we need to learn more about now because it will be more popular with time

I believe that Blockchain technology will soon be accepted in many large countries and maybe we will see more in our daily lives. I personally have great confidence in this technology because Blockchain has many special features that banks can not get

- Blockchain is truly a great technology in modern society and other countries will have no reason to refuse such a technology but everything that countries will aim to do is research and development, replacement banks will not be in their plans. Because the banking system has been building and developing for so many years, it has been very stable and sustainable in this society without too much of a complaint, therefore, instead of looking for and developing a new technology such as blockchain, it will be very troublesome, I think they will still like to focus on promoting and improving traditional banking

[adzino]

It is unlikely that it will be able to replace it, because the Bank is interest rates, jobs and so on. Also on all people there is information, there is a history. And bitcoin provides anonymity

I doubt the banking system will ever be replaced. As long as there are fiat currencies, bank will exist. Do keep in mind that bank is not used only for storing assets and money but used for taking loans. The banks are able to do credit creation by giving out loans to business which is not possible though other means. The banks won't be replaced but the technology of blockchain might be used by them.

[gorkin0606]

Well it is necessary more time. Now the blockchain only develops. It is necessary to wait several years and then the blockchain will be able to replace a banking system

[asus09]

The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?

blockchain is the most sophisticated invention of the century. there are many possibilities to be able to adopt the blockchain system. but not for the near future, I mean overall every bank in the world. maybe it will take a decade or so to really understand first about blockchain.

[Patmille]

The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?

i just hope that the banking system would adapt the blockchain technology so that the transaction woud be fast , easy and convenient. there are alot of news locally in my country that some banks are planning to adapt to blockchain and some has an intent to make their own tokens.

[JaoBadjap]

The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?

i think replacing is not possible.
bank is for fiat and fiat transaction.
while blockchain is used for crypto, and its application could be used in banks. it cant replace bank, cause its a corporation
that depends on government backed currency,
it is possible that it co exist but having it as a replacement to both

[gunhell16]

Blockchain and banks are in different field and capability.
Blockchain will stay forever and many businesses will adopt this technology.
While banks will not disappear as they will adjust with cryptocurrency for the people to continue use them.

[TastyChillySauce00]

I don't think it will ever replace the bank. Blockchain has been here for a few years now and there has been similar talks about blockchain replacing banks but today, it is hard to imagine that blockchain will replace banks as it is very risky as it is vulnerable to attacks and there will always be some issues on the codes that hackers are willing to explore.

Talking about technical aspect, banks especially their e-banking also have a hole that can be exploited by hackers but their centralized natures could overcome it. While in decentralized system like blockchain reversible transaction is just impossible. Maybe we need to resolve this first.

[vorfolomej96]

Now the blockchain has no such opportunities. People who will serve work of a blockchain will be necessary. It will be the same bank.

[Huskarls]

The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?

actually I am fed up with questions like this, bitcoin should not try to beat the bank, or vice versa. because after all it will not end well. because each has its own positive value

[hesham51]

The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?

I think Many Banks in the future will use blockchain in any way public blockchain or private or even Hybrid blockchain! as currently there is no standard for blockchain technology so many big companies hesitated to adopt this technology, but this technology will not replace the banks , but it eliminates the middleman among banks

[anjho.ace]

blockchain will never replace banks.
it will make its own place in the people.
banks will adjust for blockchain and will adopt it in the future.
banks will not be gone to our lives as they dont want to happen that.
they will adjust for us and adopt cryptocurrency and blockchain.

[LiteNight]

Theoretically, Bitcoin can replace banks. Now the throughput may be higher than that of the SWIFT system. And this is not the limit! It can be increased more.

[Jansaa]

Blockchain can not replace the Bank. Blockchain is widely used in the banking sector in the future! Bitcoin is a successful product of Blockchain technology!

[josephdd1]

For the short time at least I do no think it is possible at all. Even in the future I cannot see blockchain being able to replace banks per say but if anything it would be something similar to how banks are now if blockchain is to live up to that.

[Biscutard]

I don't think it will ever replace the bank. Blockchain has been here for a few years now and there has been similar talks about blockchain replacing banks but today, it is hard to imagine that blockchain will replace banks as it is very risky as it is vulnerable to attacks and there will always be some issues on the codes that hackers are willing to explore.

Talking about technical aspect, banks especially their e-banking also have a hole that can be exploited by hackers but their centralized natures could overcome it. While in decentralized system like blockchain reversible transaction is just impossible. Maybe we need to resolve this first.

Reversing transaction might be exploited by some users just like how people used paypal for any transaction. While banking system is different from crypto system one must use each other and not to just replace it because it might help to solve the long process issue of the banking system.

[rajuahmed330]

No. Blockchain is a technology while bank is an organization. They can't replace each others.

Right. And many people believe bank very much than blockchain and cryptocurrency. Crypto loving people loved cryptocurrency very much, but whole world not fully involved with crypto. So it is not possible to replace.

[wongdeso]

The blockchain is still blockchain which is a sophisticated technology.
And the bank is a fiat storage place which later can also adopt crypto with blockchain.

[fulled]

I think bank is not easy to replace, but bank can adopt blockchain technology in future to bring transparancy to ecosystem, this will bring more people to bank itselft because they feel more secure because can check and trace their fund more easy