Can blockchain replace bank?

[babysweetTiger0401]

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 not intended to replace any banks. Besides, all banks are regulated business industry while blockchain is not due to the system was decentralization. So, they can never be together as one unless one of them change their system. But there is one bank I know that they adapted the concepts of crypto, and that's the reason I decided to applied on that bank to put some savings in it.

[andika2018]

Blockchain will be used by banks and make bank transaction more cheapers. If you mean is bitcoin or cryptocurrency, i think bitcoin or cryptocurrency can not replace banks because government need banks to boost their economic growth

[Obama07]

There are several country think about blockchain technology. Blockchain is a new technology so people don’t understand but day by day people understand how to use blockchain technology. Lots of bank want to use blockchain technology and too many bank already start blockchain technology. Bank always support blockchain technology and they are very interested about this technology.

[odranoel]

I think blockchain could not replace bank. because not all countries legalized bitcoin. They are not using bitcoin for purchasing like her in my country. And also i think it has a very long process. And they are not have the same laws.

[Desscount]

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 don't think so, functional banking is not only in transactions. and the size is very difficult to compare
I think currently there are many who are interested in the blockchain system because of that some banks open opportunities to adopt it.

[Andromada]

Blockchain is unlikely to replace the Bank for many reasons. But if banks are friends with the blockchain, it will facilitate the work, reduce costs and jobs. This means that there will be less work and more profit

[geopard]

These two structures can exist in parallel. But it is impossible to force out or replace each other.

[Ayomiqueen]

Blockchain is a new technology that can be use by bank itself to keep records on like normal way of records keeping which is centralized but blockchain record keeping is decentralized and can be use by bank ,
you might be trying to talk about cryptocurrency and bank which is mainly different to blockchain cause cryptocurrency use blockchain technology to run it ledger which banks can also use.

[Tarion]

Yes, because blockchain is better and easier. You can transfer cash to your friends or family everytime and anywhere in the world. Moreover, there is no a third party in this transaction, that will give users more privacy.

[Jansaa]

Blockchain will support the bank, there is no substitute! Blockchain is great technology but is in the process of development! Need time and time to use to evaluate.

[mizamuneerashine]

No, Blockchain is a disruptive technology but it could not replace bank but bank can benefit the blockchain technology like reducing processing cost and transaction cost . Therefore, blockchain could not replace bank but could strengthen the bank system.

[shinjo]

It now looks like nearly impossible, because there are so many people, that do not want to even try crypto..

[Ravenangel]

It's possible, although reading Satoshi's memoirs I don't think he designed the blockchain to completely replace the financial system, I see it as an additional measure to take a lot of power away from the banks and thus be able to have much more financial freedom.

[HELLOFF]

It's possible, although reading Satoshi's memoirs I don't think he designed the blockchain to completely replace the financial system, I see it as an additional measure to take a lot of power away from the banks and thus be able to have much more financial freedom.

Today the block chain is a good technology that gives us the opportunity to get not only the quality of any services, but also the ability to keep information inaccessible to others. But if you look at the current state of the cryptocurrency market, it becomes clear that it does not do without artificial manipulations. Thus, until there is a real order in this business, I will always compare the banking system and the cryptocurrency market outrageously.

[money_forever]

I do not think this will happen. After all, banks are subject to a government body, and this means that the government will protect the banking system.

[whaawh]

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 if blockchain replaces bank the features will be diminished but it's good for us because we can earn money with it due to its highly in price and most fastest transactions .I hope it will remain regulated in higher price to earn much more.

in any case, the banking system will remain and the block chain will not be able to replace banks. I think that the banking system is keeping up with the times and will be able to adapt with the operation of the block chain.

[gerjiss]

I think that this can happen, but in reality it will never happen, because they simply will not allow cryptocurrency to replace real money.

[trofim21]

I think that this will never happen, there are banks not only private, but there are also state-owned banks, and for many of them this is not profitable, therefore prohibitions will continue

[Endikadija]

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 if blockchain replaces bank the features will be diminished but it's good for us because we can earn money with it due to its highly in price and most fastest transactions .I hope it will remain regulated in higher price to earn much more.

in any case, the banking system will remain and the block chain will not be able to replace banks. I think that the banking system is keeping up with the times and will be able to adapt with the operation of the block chain.

Even the banker has a lot of interest to use the blockchain to replace their traditional system to minimize the cost. We know that there was a lot of companies are working with ethereum and bankers are working with the ripple blockchain. That means so many of them are interested to use blockchain and it will never replace the bank.

[oktana]

Seeing existing technological developments like Blockchain certainly makes us think that Crypto will dominate the world economy one day and I am very confident that the Bank will be replaced by Crypto and of course all will go to Crypto if a country experiences collapse and Blockhain Technology will be implemented by some country.