Can blockchain replace bank?

[Blyssaely]

During last week when market was red every day I really was ready to sell all my coins and put my money to the banks. So they should exist like alternative.

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[arimamib]

During last week when market was red every day I really was ready to sell all my coins and put my money to the banks. So they should exist like alternative.

in this case both are related both have their respective advantages and have their uses in different respects but can still be related in a matter

[forexandcryptoauditor]

I don't think so.
Before the situation comes, banks will adopt blockchain technology.

[r95222]

I don't think so.
Before the situation comes, banks will adopt blockchain technology.

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

Talking nickname. I definitely should believe such people  Really I agreed that we try to mix technology and people formation. Blockchain need people and interface at least. But who will do KYC or any check? Who will says about how it work? I wait some changes from blockchain implementations but not so fast and big

[Adriano2010]

I think it can't replace a bank, but i think blockchain technology can be used in different domains including banks, and yes van help a bank to store data and not make so much papers for all operations that need to be done.

[dicaprio]

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.

Why nothing specific? I think if you think more carefully and remember all your banking actions and the actions of a bank employee, then on the whole they are quite algorithmic, so everything is very simple.

[amitkumratra]

It is not possible in any manner that blockchain replace bank but it is possible that bank use blockchain technology in future to do all work faster with more transparency. Because banks where we save our fund for future and whenever we required fund for our daily needs then we withdraw our savings or take loans from it so we can fulfill our requirement but on the other hand blockchain is a technology by which we can do our work fast, cheap, and in more transparent manner because blockchain is a future of digital world.

[Vanderbleek]

I do not think that crypto will replace Banks totally. The most possible scenario is that blockchain technology is going to be adopted by the traditional banks and we will see such solutions as Ripple. But I hope we will still see fully decentralised banks.

[dicaprio]

I do not think that crypto will replace Banks totally. The most possible scenario is that blockchain technology is going to be adopted by the traditional banks and we will see such solutions as Ripple. But I hope we will still see fully decentralised banks.

It seems to me that I have already expressed my negative point of view about the XRP, but this is indeed a banking thing that will work and the bankers obviously will not miss this opportunity, but definitely this is not decentralization.

[tuvic01]

Sure it can surely replaced bank but there are lots to do to get to that stage because presently we cryptocurrency and blockchain is yet to be widely accepted by various government of the world. We will have to get the cryptocurrency widely accepted all over the world before we get to the stage of it replacing the bank. Once it is accepted all over the world as legal means of doing business then we are good to go.

[Gypsy.Danger]

It may be possible in the near future. Because it is automated and we can tell that there can be no bias on its transactions. But when we gone to blockchain in replacing the bank, the risk of it is high because it may become the next target of hackers in stealing bank funds.

[dicaprio]

It may be possible in the near future. Because it is automated and we can tell that there can be no bias on its transactions. But when we gone to blockchain in replacing the bank, the risk of it is high because it may become the next target of hackers in stealing bank funds.

If all the same hackers can have the opportunity to catch Bitcoin, or they still have found the opportunity to work in order to replace the information in the blockchain on all computers, then the technology itself and the cryptocurrency will definitely be able to leave very quickly.

[avonka]

Blockchain is a new technology and it`s purpose is not to replace the banks. Banks are investing into many blockchain related projects so it can be a win-win situation. Cryptocurrencies  could potentially include 2 billion people which banks could not include into the financial system.

[kisfoxs]

In my opinion, Blockchain cannot replace the Bank. If you say that with the Blockchain system, you don't need a third party to sign on paper. And that makes everyone doubt because there is no guarantee of security or if something happens they don't get a money back guarantee. Crypto in my opinion, where investment is very profitable but has risks. And if you want to be safer to save money in the bank and have very good security.

[Krismanto]

Yes, if we see indeed the trend of Blockchain continues to increase and become very popular. But to replace the Bank, I think it will be very difficult. The bank has very good security and has a guarantee that it is connected with a legal entity. But unlike Blockchain technology, not all people know about this technology.

[briton]

I think it will be very difficult if the blockchain will replace the bank, because each has its own role, and certainly not all agree if this will be realized because not everyone knows blockchain

[tetyulfania]

Never blockchain could replace bank because not all or people using and know about blockchain and cryptocurrency, many people still not understand what its bitcoin and altcoin or crypto, maybe just few people have know and participated at crypto.

[zerocashdev]

Theoretically, this technology can replace the bank, but this will not happen in the next 10 years because banks will use the blockchain in their activities and people need time to adjust to this.

[elzjmirra]

Blockchain continues to grow and experience trends that are always increasing. Many people experience convenience with this technology because they are not as complicated as what happened at the Bank. But this technology cannot replace the Bank but can work together so that it produces a lot of work.

[Rina Ambar]

in my opinion the blockchain will not be able to replace the bank as long as there are countries that do not legalize crypto in that country, because if there are countries that have not legalized cryptocurrency then we cannot use coin crypto in that country and we must still exchange crypto currency into that country's currency .