Can blockchain replace bank?

[MOProgress]

It could not be possible, it may act as a digital bank but not replacing bank, bank is a fiat currency saving firm which is back by Government, and no government would want its local currency to be wipe off.

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[gowobonyok]

can't, even though the blockchain is more sophisticated than the bank. because here we will talk about law, where banks are built based on state regulations and that is legal, while the blockchain has not yet gotten that.

[Sultanar484]

Blockchain is the latest technology that has brought revulation in the financial transaction sectors which was unbelievable in the banking sectors within the few seconds, less fees, more secure than now. Blockchain is the pioneer, bank will exist but blockchain and bank will amalgamate to more advanced technology in the future.

[RockHenki]

I'll replace your question by saying, "Will the banks use blockchain?" Crypto needs more development, first of all cryptography to replace cash, but we will not see this. Most likely the banks need to apply blockchain technology, but it seems to me that they are not capable of doing this! But it will take time and a great effort to make people fully accept blockchain technology.

[bkbirge]

I'll replace your question by saying, "Will the banks use blockchain?" Crypto needs more development, first of all cryptography to replace cash, but we will not see this. Most likely the banks need to apply blockchain technology, but it seems to me that they are not capable of doing this! But it will take time and a great effort to make people fully accept blockchain technology.

Yes, absolutely. They are experimenting with it now. However, they all still have the centralized mindset where they think the best way to proceed is to have their own tokens that they control and they only want to jump on the bitcoin bandwagon because they think they can sell product with the buzzword. The fundamental meaning of the blockchain will take at least a generation to filter through to those people.

[giantrobot]

I think the bank is still doing its job well. Blockchain is an electronic money trading technology, and it also participates in intelligent city management systems. I think in the future the bank will apply Blockchain technology because of its usability

[Avri Susanto]

no, as long as there are still many people who don't trust this technology it is difficult to do. and in my opinion in the future the bank will not disappear but they will integrate their services into the block network..

[jusertvaz]

no, as long as there are still many people who don't trust this technology it is difficult to do. and in my opinion in the future the bank will not disappear but they will integrate their services into the block network..

I also think that the blockchain will not be able to replace the banks , but to work better it is really. For example, to increase the speed of transactions in the banking network. But it transfers between people will never be anonymous. The banking system will live for a very long time.

[1cak]

blockchain will not be able to replace banks, they can work together to strengthen various sectors but not to compete with each other

[Deagle21]

Banks may disappear. they can be replaced by more developed structures. it may not even be a blockchain ...
But at this stage, banks will definitely and will gradually move to new technologies.

[mainthread]

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 a technology. She can not replace the bank. When banks will see the benefits of the blockchain, they will gradually introduce it into their operations. This is a revolutionary technology and it will be appreciated very highly.

[usticiann]

Can blockchain replace the bank? Of course it will. There is nothing surer. Blockchain and cryptocurrency will certainly replace the banking system as we know it. I am entirely convinced of that.

[fayoling]

Banks are already testing the blockchain technology with full swing and will soon be actively using it, it’s too early to talk about replacing fiat money with btc due to insufficient scalability

[kimhervias29]

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 was only created to transact financially without the middle party like banks and other financial institutions. This will free you from centralized policies that generate big fees and other unnecessary procedures. But other processes of banks cannot be replaced by blockchain. So even though blockchain is developing, banks are still here to stay.

[mistemb]

i think physical bank will still be in exist for the majority. as for me im happy to be my own bank and to transfer funds from one another with just a cent fee thats what im here and will still be

[Gyromancer]

Judging from the capacity and capabilities of blockchain technology in replacing banks, it is very possible. But in my opinion, this replacement is not in the near future. In the near future, banks are still very necessary because not all people have online access so that the community is not ready if the system will switch to the blockchain. Banks are still very much needed especially in developing countries and the people are not all open to crypto currencies. In my opinion, to switch to this blockchain requires a long adaptation, maybe 5 to 10 years.

[bonyaserg]

Personally, my opinion, I believe that at the moment the blockchain will not be able to replace the bank as it is now almost impossible. Maybe in the future this will happen when new technologies and new banks emerge that will work with cryptocurrency. For me personally, this is a very interesting idea about new technologies where a large amount of cryptocurrency will be stored.

[Lazada]

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 has very sophisticated technology and is currently proven to be able to handle millions of transactions quickly and safely. Blockchain is a very potential thing that can handle the banking system. Banks must upgrade their systems and they must try to implement the blockchain system quickly. If this is not done immediately, the Blockchain will be a scary thing and the Bank will disappear. The best option is that the Bank implements a blockchain system in the current bank system. Security, speed and convenience will be an additional point owned by the Blockchain.

[repear7]

Blockchain is a great technology so that it is technically very easy to replace the bank system. The blockchain is very potential to help the future become easier and cheaper. However, I analyze that the blockchain will never be able to replace the bank system at any time. What will happen will not replace each other but will complement each other. Both of them will function in tandem to facilitate human work. If there is no bank, we can be sure that there is no more fiat money, even though fiat money is very important for offline transactions. Without banks and fiat money, economic transactions cannot be said to be real and direct. Especially for countries that are still developing and already internalized with banks, it will be very difficult for people to accept blockchain technology. So that I can conclude that maybe someday the blockchain will replace the bank system for countries that are ready with crypto currencies.

[duuuuude]

It would be ideal if banks switched to blockchain but I think that because of corruption not all banks need it. It takes time because no one wants to just give a tidbit in the hands of ordinary people.