Can blockchain replace bank?

[Arcanefist]

Bill Gates is sure that we do not need banks, so I hope that Microsoft will develop certain smart and usefull blockchain solution for people to ignore banks.

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[Ria Sakurai]

At present obviously Blockchain can NOT replace bank, the simplest example is we can not use cryptocurrency to buy everything without exchange crypto to fiat. In the future i don't know because technology is developing very quickly, we can't know what it looks like in next 5 years, 10 years.

[hanxinvwang]

Blockchain is unlikely to replace banks, because blockchains are always accompanied by many dangers, such as hacking, but blockchain can improve some of the bank's facilities!

[Fedots83]

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?

You need deep understanding of banking technologies to understand why it is impossible, but I am sure that banks will use blockchain technology in the nearest future.

[Caesar-Giulius]

I don’t see how blockchain can replace bank, but I am sure banks will want to use blockchain technology. It is more efficient and cost saving. As we can see, several banks have started to develop blockchain for remittances.

[bbenpieters]

the banks have been part of our culture but blockchain has provided a better alternative in terms of security. but replacing it might still be far-fetched for now.  but who knows?  life is full of surprises anyways.

[Barbatos]

To make it, blockchain technologies and cryptocurrencies shoud be recognized by huge ammount of countries and it is not going to happen in future.

[Cianix]

Of course I would like to see blockchain replace banks, but of course I doubt that this will happen in the near future, banks are very strong!

[dicaprio]

Yes, the Blockchain is suitable and takes not so high comission like the bank does. But I think that the bankers themselves wilk not allow to make this, only if they implement their own token that will be functioning in this direction.

I think that if the blockchain technology will continue to develop the scope of smart contracts or otherwise algorithms or scripts, then banks really won't make sense to people. Since they will make sense to give interest-free loans and so on.

[arkawa040]

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?

Most likely, decentralized banks can replace centralized banks, in my opinion, this is a great idea for implementation, no unnecessary questions everything works on the ideal system of smart contracts, without any fraudulent actions on either side.

[Yourodiviy]

For a start, the blockchain is integrated into the work of banks and Fiat currencies will coexist with cryptocurrencies. And then we will see. Now nothing concrete can be said.

[Bim abk]

For a start, the blockchain is integrated into the work of banks and Fiat currencies will coexist with cryptocurrencies. And then we will see. Now nothing concrete can be said.

I think crypto and banks could be side by side because the relationship has a dependency especially in my country that has to exchange crypto against my country's currency and connect with the bank

[aprilnot]

will never be able to because the bank has enormous power. and in my opinion in the future banks will be more developed because sooner or later they will integrate their services into blockchain technology. with the blockchain bank will be a more perfect, safer and more transparent platform.

[BitLendingClub]

will never be able to because the bank has enormous power. and in my opinion in the future banks will be more developed because sooner or later they will integrate their services into blockchain technology. with the blockchain bank will be a more perfect, safer and more transparent platform.

But not all banks want transparency. I agreed blockchain don't replace bank because bank is not money only. Bank is a big team with different department destinations. And blockchain can be used in the some use cases only.

[hotforblockchain]

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?

NO, no and no. We need banks , they are those who are complying with regulatory. The blockchian is great but it cant sustain it self. It could but then other big problems would arise without banks .

[pazzanegro]

Its too difficult for crypto to replace banks. And its to hard for banks to kill crypto. I think both of them will be proceeding, banks and governments are trying to kill cash currently

[lotfipro]

I think no but It would be great if banks will start integrate blockchain in their systems and make transactions by using blockchain. Banks will start working much faster after it.

[nicecrypto]

Even while all your explanation seems nice but I don't see the blockchain replacing bank. One of the reasons why most government aren't accepting the concept and usage of crypto is because of all the points you just explained and since this transactions are kind of difficult to put a name to them, most government will not allow the blockchain to replace banking

[Tylev]

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, and cryptocurrency is a product of this technology. Neither the blockchain nor the cryptocurrency as a whole can replace the banking system. The banking system is not only a transaction. Banks perform various useful functions, especially for the state. In fact, now banks are part of the state. Cryptocurrency simply by its nature is not able to perform the functions of banks.

[fistteam]

Blockchain is not a substitute for bank. Instead, Blockchain will be integrated into the bank and replace the old-fashioned payment method. Blockchain is a technology and it will be widely applied in banks in the near future.