Can blockchain replace bank?

[Fredrosam]

Blockchain and bank are different. Blockchain is a new technology that brings improvement on the technology used by bank. Therefore its not possible for blockchain to replace bank because bank is an organization while blockchain is a technology. Its however possible that in the future, the banks may adopt the blockchain technology.

there are a lot of things that can be done with pur banking system in my and other countries but i doubt that it is necessary

tjat is true and actually i think taht thee shoyld be different systems for money as one of them can fail any time

[1714859243]

1714859243

[1714859243]

1714859243

[1714859243]

1714859243

[1714859243]

1714859243

[1714859243]

1714859243

[Inastran]

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?

is tjere any reason for the cryptocurrencies to be replaced and blockchain technology is good but not perfect afterall

[jorgelugra]

I don't think that this will happen in the nearest future. In my opinion, it is better to use blockchain for other purposes. I think that you need to invest in coins and just trade as this is the most effective way to earn

[RokokGudangGaram]

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

Yes, what you are telling me might be to work together instead of replacing it because the advancement of technology and the development of the times are definitely needed crypto currencies in the future

[kr105]

I think that banks that want to keep up with development and want to take part in the future will use blockchain technology. In the future, faster, cheaper, and more advanced systems will be,  if the banks to work with today's systems the life of banks can not be long.

[Omtamvan]

This is a different matter. blockchain will not be able to replace the bank. Thus blockchain will be able to complete the bank system for the better. the blockchain technology is quite safe and will provide many benefits to the bank.
-data that is easy to track
-easy data sharing
-sufficient security is assured because it contains a lot of computer code verification
and many more advantages of blockchain and is very deserving of the system applied in the bank.

[Yamifoud]

I don't think so cause we still be needing banks. In fact,  many businessman preferred to used this institution than of blockchain technology for safe keep of their money

[miraxgr]

Sure it can! After all, it was for this purpose that it was created to exclude all intermediaries between users in the future. And the intermediaries in this case are banks and any other traditional, centralized payment systems, which not only have a large percentage, but also a long cycle of transactions, which sometimes lasts more than one day, and sometimes a week. So everything is possible that in the near future, we will not see banks and other payment services.

[isen]

Banks allow themselves to be “replaced” only if all processes occur through them, in other words, when a bank acts between the user and the blockchain intermediary. Therefore, we are waiting for a very long way of confrontation and manipulation of the crypto market, and I doubt that the blockchain will be able to win completely.

[Minusha]

First of all banks can use blockchain to make their transactions faster and more cheap. If the banks will not do it, they will be replaced themself by cryptocurrencies. Cryptos can offer cheap and very fast transactions without banks.

[rockyfeller]

Maybe users will limit themselves to use banks as their will be a mainstream adoption of Cryptocurrency more reliable,safe,more secured transaction. Banks will use blockchain but I guess crypto will replace bans in the future. The powerful decentralization and peer to peer system will manage it.

[Wellyan]

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 that banks need blockchain technology so that the time to make transactions is faster too and is very profitable for us, of course, but the possibility is difficult to determine

[KuyaBreezy]

I don't think it will replace it definitively, I think that in the end, it will be a kind of union with banks and exchanges of cryptos, maybe the best coins will be adapted to obtain them easily and they will be handled under their own rules, so they will be part of the banks but as a separate division, it will probably be something like what ripple is doing.

[bitcoin31]

I don't think bank replace by the blockchain because bank is really needed in real life. Blockchain is still good but bank is helpful to make transaction and bank is really needed because if we don't have bank they cannot transact to blockchain or anything online everything will be hard and that is both better.

[Denreal]

Blockchain technology is not likely going to replace banks, but banks can make use of blockchain by the time they understand its impact on their business. Even governments will embrace it in order to enhance their financial capabilities.

[fianaindriati]

Blockchain technology is not likely going to replace banks, but banks can make use of blockchain by the time they understand its impact on their business. Even governments will embrace it in order to enhance their financial capabilities.

we have to know it all, if indeed the blockchain cannot replace the bank. because the bank has been standing for a long time, and blockchain including just released. so if it is enough to replace the bank, it needs a long, difficult process

[kabum21]

that's the goal, right now the banks have a lot of power, but in about 10 years when cryptos are much more popular, I think if they would be a reliable replacement for the current financial system, they might not replace them completely, but if they would be much more popular than most banks.

[paul gatt]

I think in the future blockchain can replace the bank. Currently, blockchain technology is developing very strongly. Blockchain is being used in many fields. Blockchain has a solid foundation. I believe in the breakthrough of this technology.

[christofyler]

No way it can't blockchain can't never take the position or replace bank they can only work in hand with one another. Banks are more reliable, secure and safe.

[miropp]

To make this happen it is necessary, for a start, that all people were able to use the blockchain, were able to make transactions. Over time, I think it will happen, but to say that banks disappear altogether is wrong. Very serious changes have to happen in the world for this to happen.