Can blockchain replace bank?

[nwanne]

I think the question should be can crypto currency replace bank? because blockchain is a tech on it's own even banks can build moving their banking operations and service on the blockchain to make banking more transparent, But I don't think cryptos can replace bank because the industry is already an established industry and it's worth trillions of dollars

[1714863209]

1714863209

[1714863209]

1714863209

[1714863209]

1714863209

[1714863209]

1714863209

[mimienamphine]

This is a topic I am really passionate about for some time now since I joined cryptocurrency. It is very clear that society will always come up with new and better ways of doing things than our predecessors had. In time passed, it used to barter trade which evolved into goods for goods and later gold was the medium of exchange and soon banks came in and on and on. So it is crystal clear that the banking system will also fade away sooner than people think and believe in now and the cryptocurrency industry is well poised to take the position of the banks.

[OSEIBOATENG]

The blockchain technology has proven beyond doubt to be the best technology ever but I don't think it can over take or replace the banks because not all people will be able to use blockchain and its products.

[nityans]

The advantages of international transfers of cryptocurrencies using the blockchain system are not even worth talking about. Banks will never be able to offer something like this.

[youdacapt]

Well, I also want this to happen in our lives so we don't need a bank anymore, so if we all want that, we can definitely wipe out paper currency so we don't need it anymore, but is every country ready to make such big changes? because not all countries are modern countries there are still many developing countries.

[bitkanu]

This is a topic I am really passionate about for some time now since I joined cryptocurrency. It is very clear that society will always come up with new and better ways of doing things than our predecessors had. In time passed, it used to barter trade which evolved into goods for goods and later gold was the medium of exchange and soon banks came in and on and on. So it is crystal clear that the banking system will also fade away sooner than people think and believe in now and the cryptocurrency industry is well poised to take the position of the banks.

Or the bank itself will use blockchain technology and make everything more efficient? maybe that is the case right now since so many bank have tried using blockchain until now, they are experimenting how blockchain could improve the efficiency in their internal. That actually prove that blockchain is useful in practical use while it also means bank will nowhere soon to fade

[cakravothy]

blockchain is technology not institution
so never blockchain can replace bank,  bank can use blockchain technology

[Wellyan]

I think that blockchain cannot replace banks, we know that banks have become a place for storing money that has long been recognized by the government while the bank is still recently and the blockchain has not been acknowledged by the government.

[pacman7331]

Yes, Blockchain has every capability to replace the bank. But People are not ready to use Cryptocurrency over the bank! They are used to with banks, PayPal and other Digital currencies. Crypto needs more acceptance to avoid this obstacle to replace the bank or we can use both platforms at the same time.

[trahaubab]

may be one day, but I doubt.
Because blockchain, classical meaning of it, doensn`t represent interest of particular group, as baks thats why sharks won`t let to do it

[Go jack1]

it could happen, but it really needs support from all parties so that this dream can be realized, hopefully the government also wants to support this positive step so that later blockchain technology can develop and become a progress of that country

[BlackRacerX]

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 honestly think that blockchain technology is already refined and ready to replace banking systems all over the world right now. It's just that the medium to be used under blockchain technology, which are the current cryptocurrencies we have, is not yet refined. There a lot more room to grow for cryptocurrency but blockchain is already in its apex.

[chika6060]

I wouldn't say they would but banks will play a limited role in the future  

[khan149]

Referring to the specialized element, banking institutions particularly their own e-banking also provide the pit that may be used through cyber-terrorist, however, their own centralized natures might conquer this. During the decentralized program such as blockchain, the reversible deal is simply not possible. Perhaps we have to solve this particular very first.

[Malkazimir]

I am sure that this will happen sooner or later. But the war will be very serious. Just because the bankers will not let go of the situation. None of them want to lose millions of profits. And we all understand that perfectly. A lot of time must pass before this becomes a reality. A crypto for a long time will be an alternative, before full recognition.

[hamba laeh]

at the present time with the sophistication of blockchain technology that is able to provide convenience in transacting transparently and quickly, of course it does not rule out the possibility of replacing conventional banks. because more and more days the number of interested people from crypto and that shows that people will slowly leave banknotes and use crypto without services from the banking sector. yes there is nothing impossible for the future ...

[forex]

Of course, cryptocurrencies can replace banks, but whether banks want to be replaced - that is the question

[oceanx]

Blockchain can not replace the bank. A blockchain is a technology, and a bank is an organization. But it can become part of banking accounting. Bank as an organization will disappear only with humanity. No technology will make it disappear. 

[Fadhil Pahlawadi]

emphasis on the bank is always a problem if the conditions of the day do not support those who want millions of rupiah transactions for it, all elements in the bank do not want to be spoken with blockchain

[Happy Miner]

It will never happen. Banks may start using blockchain technology, but these financial institutions will not disappear. Today it is impossible to imagine an economy without banks.