Can blockchain replace bank?

[Bakul_cacing]

impossible for blockchain to replace banks, its because banks are institution why blockchain is a system.

Blockchain is good technology but bank need recommendation and protection to use it because all financial instrument already there. Maybe someday it will but not for now.

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[cryptolidus]

More and more banks realize  the benefits of blockchain technology . Large banks are conducting tests of decentralized
asset technology and implementing blockchain in their business processes. They are investing in projects that are developing blockchain-based solutions. So banks are already joining and using this new technology.

[contactmike1]

Wll, partially yes. Have you heard about Money token, Nexo, Credits, DCC. All of them will create financial institute and some of them are giving out loans for collateral. I would consider it as a step forward to replace banks. But I think banks will use blockchain as well

[Johnyz]

impossible for blockchain to replace banks, its because banks are institution why blockchain is a system.

Blockchain is good technology but bank need recommendation and protection to use it because all financial instrument already there. Maybe someday it will but not for now.

Exactly, and actually banks can adopt blockchain technology that makes them more competitive in the future. We still need banks, so that we can securely put our big money because cryptomarket are still not safe and rich people will not take the risk of putting their money in cryptomarket without having any assurance of security.

[el kaka22]

There is a big possibility that blockchain can replace banks. But that may be happen in the next year or maybe century, since blockchain market today is in crisis. Banks needs a stable currency and that needs the blockchain to develop. 

Where is the possibility mate ? This is a technology and not like it will just start displacing banks since banks themselves as time goes on will end up finding a good use of the blockchain technology itself. The issue here is that a lot of people certainly do not understand what blockchain technology means exactly which is why they keep saying it can replace banks.

It will only change the way we spend, banks will always have a way to function with or without blockchain technology and as it is, I believe they will tend towards adopting the technology itself. Moreover, just like a lot of people have said, this is something that is not even worth debating in the first place because there is no way blockchain in itself disengage banking system from being operational.

Banks will still be able to find a way to adopt the usage of blockchain technology, find easier ways to do things and then we will see them still kicking well and fine. People should tend to discard their dreams about banks going into extinction in the long run because it won’t happen.

[Farlynn]

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 it can't replace any banks till this sytem won't be able to rule the world in my opinion, because banks are everywhere, and they're working with government machine much more closer than blockchain

[viktoriya1945]

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, banks will use blockchain in the future to carry out transactions, but the technology itself will not be able to replace the bank.

[picaszo]

no , blockchain cant replace bank. you cant save your money on blockchain. You cant transfer money to people who dont know blockchain.
blockchain cannot replace banks but banks can use blockchain technology

[Ngewex Yuk]

Of course, it must be admitted that bank transactions will continue to increase and this will make transactions very slow and require very high costs, the presence of blockchain has been recognized by various experts to be the most appropriate solution because it is faster and cheaper.

[kamilah147]

no , blockchain cant replace bank. you cant save your money on blockchain. You cant transfer money to people who dont know blockchain.
blockchain cannot replace banks but banks can use blockchain technology

until now blockchain has not been able to replace the bank, and I don't think it will be replaced. so the bank is monitored by the government, and the blockchain won't be able to get on the beach. then the bank will remain heavy at any time.

[yojodojo21]

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?

Banks are far different from blockchain, banks are an institution while blockchain is a technology, you're asking the wrong questions here. If you ask if whether in the near future if banks would use blockchain tech, maybe, there's a high possibility but of course, everything has to be regulated first.

[Zeke_23]

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, blockchain is not the same as banks which is responsible for holding any amount of money for you, blockchain is a technology that is being use to record all the transactions all over the crypto world.

[adeprinz1]

Sooner or later, blockchains will be a means of exchange all around the world.. Banks would surely have to deal in blockchains to enhabce transactions

[kolsernik]

Right now, blockchain technology is engaged in this.she is breaks the old paradigm of the financial world. Whether it will turn out or not is a big question

[Guard225]

Ehh, it's this mentality that we can replace anything with a blockchain. I think that robots and protocols will never completely replace humans, there's always some abstract thinking involved,
especially when it comes to finances, let's not forget that.

[terrific]

Wll, partially yes. Have you heard about Money token, Nexo, Credits, DCC. All of them will create financial institute and some of them are giving out loans for collateral. I would consider it as a step forward to replace banks. But I think banks will use blockchain as well

They will be considered as competitor if you are only highlighting their loan for collateral.
The banks are hard to replace as it can adopt blockchain alone.
You can't exterminate a system that's being adopted by most of the people in the community.

[kiansantan]

If you ask whether in the near future whether banks will use blockchain technology, maybe, there is a high probability but of course, everything must be arranged first. Banks are far different from blockchain, banks are institutions while blockchain is technology,

[1NV3ST0NM3]

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 I don’t think so. Blockchain is only a technology whereas banks are institutions. So blockchain needs to be employed by some king of institution in order to work. So I think, there is a possibility that banks could use the blockchain technology which can benefit everyone. Banking industry is huge and its roots are strong, I don’t think it can be replaced by cryptocurrency or blockchain.

[sanacaks]

I'll replace your question and I guess its better if you'll ask this "Will the banks use blockchain technology?"
 
I doubt it that the banks will be gone in the future though we got crypto, we can fully ignore the banking system and stick to crypto's as no need for an application to open a bank account, no requirements needed and no more waiting days of creating our own bank accounts. Our wallets are already our bank accounts.

There's also a tendency that the bank will join this crypto revolution as they have no choice to compete against it.

I am thinking the same banks will be there anyway but they can not ignore crypto. Banks are slow, less trustable indeed.(not all of your money is granteed by the banks thats why they are less trustable then your own blockchain wallet)..  People needs to feel that their hardly earned money is secure place while they are sleeping. Because of the security issues banks will never replace blockchain but they will use blockchain technology everyday life near future.

[irenegaming]

Yeah blockchain can replace them, if bitcoin stabilizes enough, or we had an altcoin to replace the FIAT currency, which we could use globally, the decentralized system is very attractive to many businesses, but I imagine that they are still afraid because they do not know what consequences could cause a decentralized network in their system, most likely is to see a mixture of blockchain and traditional banks.