Can blockchain replace bank?

[xIIImaL]

It will take a long time before blockchain replaces banks. I am not sure I want to see it replaced by blockchain either. The blockchain technology is great, but I think that it might do better if it try to co-exist with banks and fiat, simply because not every country will know or have access to bitcoin and/or blockchain. Also, it will be good if people have a choice whether they prefer to keep their money in the banks or in e-wallets, dont you think?

But very soon we expect the bank along with integration on blockchain technology. Already many people in the tried and integrated the blockchain for many firms for security and business log reasons.
Really bitcoin and blockchain is perfectly made of banking but this will avoid the fees and crash the many financial sectors they aren't allowing bitcoin to be here.

[criptoman83]

I think the blockchain is unlikely to 100% replace banking institutions. The government cannot control blockachain to observe. And that they can hardly like it.  Perhaps blockchain and traditional financial institutions will exist in parallel.

[ausbit]

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

The issue here is that people in the category of the OP certainly have no understanding of what blockchain technology is. As time goes on, banks will see the need to adopt blockchain technology and not just banks, various sectors and organization will see the need to do so as we are already beginning to see it now.

If we say blockchain technology assisting with cashless age and therefore eliminating paper money is a different case, but in terms of eliminating banks, there is certainly no correlation.

[RobotNIK]

Not only can, but most likely even succeed.  But only this will take time!

[cryptoangel001]

Blockchain advancements are presently the most discussed topic and comes with a wide range of facilities and company  features. Contrasted with customary banks, blockchain has a great deal to offer, making it perfect for a wide range of exchanges. The blockchain is a conveyed record innovation, that can be utilized in numerous spots on the double, where smart contracts and exchanges can be executed, without including any type of middleman.

[Ezenwanyi1]

The blockchain and bank are a two different things with different functions and so, nonw can be able to replace each other effevtively.

[Thesaintplague]

I do not think that banks will give up their place to blockchain companies and technologies so easily. The process of blockchain integration will take place according to the old schemes - at the very last moment when its superiority will be undeniable. Banks will gradually transfer their payments to the blockchain, but we will never see full decentralization from them. It's obvious. We have to build it ourselves. Or it's good to encourage those who do.

[Gelesko]

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 yes, if the bank start using blockchain as we go in to more developing blockchain technology. As a matter of fact I bumped in projects with bank system, although they haven't been that successful yet, but I think we will have a perfect ICO with great and experienced team in near future

[Nayebarefx]

Blockchain will not replace banks but banks arleady adopted blockchain and they are using it in there daily operations. Blockchain is a technology which every bank as a must will adopt in its current operations this is because of technological advacements in business world. Some banks are arleady transacting crypto called crypto banks and this is also the future for banks.

[KarinaMix]

I think not, but for now, I will explain why I have such an opinion, Blockchain is a technology, and the Bank is a systematized organization, in order to replace banks it will take a lot of time.

[rasulibragimavic]

Bitcoin will not replace banks for at least another 7-10 years but it will help to improve their technology which is very outdated !

[TelolettOm]

Not only can, but most likely even succeed.  But only this will take time!

it's hard to predict whether the blockchain will replace the bank. we know that a bank is a genuine creation of a country that is made to facilitate the public in financial matters. yes if it wants to happen it takes a very long time and needs the trust of the community to run successfully .

[raven.tiu17]

Yes in the future, blockchain is very powerful ledger that connects in the internet and it solves the current situation, logically and basically. Blockchain is for everyone. If the crypto market is on mainstream. Banks will be useless and we bank our own bank which is the blockchain.

[USDOLLAR]

The blockchain and bank are two unique things with various capacities. As I would like to think, Blockchain is an innovation for computerized cash while the bank is absolutely managing fiat money. The blockchain is an innovation, and the Bank is a systematized association. If it happens, it requires a long-long period and necessities the trust of the network to run effectively. Do I have a proposal why not banks include blockchain area in their framework? everything will be short out might be or not?

[Iykejunior]

Blockchain replace banks ? No i dont think so just yet, but if the banks are willing to employ blockchain technology then i guess it is a win win at both ends

[ityandsyn]

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?

      Not necessarily a bank will be replace by blockchain technology but instead bank will be using blockchain   technology , And this might  be doing better than the existing system and if this will really happen , this will help the bank transactions better and faster .

[maxreish]

Even in my dream it will not happen. Certainly because bank is patronize by most people around the world and recognizes by the government. Bank is a stable and trustworthy financial institutions that are licensed to deal with money. So for me, bank can never ever replace by blockchain in any aspect.

[Kunlejoe0]

I thought about this myself and it was good see a thread dealing with this topic. I am going to be short in expressing my opinion, I honestly believe blockchain using cryptocurrency as payment can replace our already aged banking system.

[reynand]

I think to replace the bank is a difficult thing. we know that blockchain is supported by sophisticated technology, but I don't think everyone can use it. not everyone can accept blockchain technology properly. but we don't know how the future of blockchain. we can only follow the existing path.

[Rajatkatyal]

No according to me blockchain is not that much easier like our normal bank. so according to me blockchain can not replace bank.