Can blockchain replace bank?

[crypto freelance]

I think if there is a future for the
crypto world, then the blockchain also has a bright future. For this, the non-exclusion that the banks will switch to blocking. After all, this is a technical world breakthrough.

[shield132]

By the way bank is a financial institution that accepts deposits and at the same time makes credits. To make everything clearer blockchain is a list of blocks where information is included, google both word to understand everything in details.
So I want to say that they have nothing in common but if you mean blockchain technologies integration in banks, then I would say it may happen in future, there are some possibilities of it.

[Best Coin8]

I think that this can not be because they are completely different things. The bank is an organization and blockchain is a technology. These are completely different concepts.

[babycorner17]

Blockchain will now not update banks however banks arleady accompanied blockchain and they may be the usage of it in there day by day operations. Blockchain is a technology which every economic institution as a have to will adopt in its current-day operations this is because of technological advacements in business organization international. A few banks are arleady transacting crypto known as crypto banks and this is additionally the future for banks

[s31joemhar]

For me the system will only change on this but banking will be more light as it man not have big vaults but supercomputers, lol. Bank owners and founders probably not letting their business to be down but they will probably adopt what was the change happening in the environment. They will absolutely accept cryptos but they will having a interest as it profit. Only my theory and opinion though about this.

[Dmitry_K]

I do not think that the blockchain can replace banks. Bockchain is not able to do it because it is simply a technology, but banks are the main participants in the financial system.

[mapsi]

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. Banks will start to use blockchain technology in near future. As you mentioned that blockchain provides incredibly fast transactions and open recorded.

[Teal Deer]

If you did not know, then his appearance and originally meant this concept. So that all people on the planet could interact with each other quickly and without intermediaries. After all, just think about what crazy interest sometimes takes the Bank for the usual transfer of money from one account to another. Sometimes this figure reaches 3%! And now consider you want to transfer 10 000$ x 3% = 300$ you will pay the Bank for its translation services. And if this amount is more and how many of you are transferred daily money. Thousands! With the blockchain, everything has become easier and faster, and most importantly more economical.

[sacskate]

i think no one replace the other they are both complementary best example is the ripple blockchain and integration into many banks

[nemey]

In my opinion, I don't think that the blockchain can replace bank. However, it may be possible that the banks use the blockchain technology as part of the system to be operated in the banks. Bank is centralized and if the blockchain can be managed centralized, it may be possible, but not for replacing, just for complementing.

[reflector]

Blockchain is just a peer to peer network so transaction is safer and fatser but Bank database is totally control by government so it is authorized platform so our investment is guaranteed but blockchain network is not this much secured platform. So blockchain is always secondary platform may be bank was accepting the crypto but bank will never died in the world.

[memFISTO]

Like many, I believe that blockchain is the best invention of the 21st century. If this technology really starts to be supported everywhere and becomes more popular then I will be incredibly happy with this turn of events. It will make the life of all mankind better

[Alex31207]

If that happened,then the earth he had made would be chaos.Bankers have enough money to strangle the entire cryptocurrency market if they feel threatened.It would not be beneficial for all governments.

[angrybirdy]

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?

do you know what is blockchain? if not, you should know that blockchain is not a type of storage or an institution like banks, it is a technology. banks are different. blockchain will never replace bank.

[Torps1]

Blockchain technology offers almost everything that banks has to offer, however it may be impossible to totally replace banks(Institutions) with blockchain(Innovative idea) especially now that the blockchain technology is still undergoing maturity stage.

[ForTheAzerot]

If that happened,then the earth he had made would be chaos.Bankers have enough money to strangle the entire cryptocurrency market if they feel threatened.It would not be beneficial for all governments.

I agree with you, I think they themselves will start using this technology for their own purposes and, if possible, remove competitors.

[coinnumber]

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?

The idea of blockchain and that of bank is quite different blockchain is decentralized while bank is centralized so it will be very difficult for a decentralized system which many think it not secured to surpass a centralized system that's very secure, transparent and easy to understand. So I believe blockchain will ever replace bank.

[Gerard Levi]

Its impossible, Its all about the regulations and the nature of bank and blockchain, I doubt it will ever happen. Digital banks - yes, Blockchain replace banks - no.

[mitsarasss]

Blokchain can easily replace a bank because it is transparent and safe, but before that it needs to become as convenient as a bank, people first have to learn to trust a blockchain only then they will take their money there. Unfortunately, most people, associate blockchain with bad things.

[laiya94]

I think so, but I don't say banks will go to vanishes but in the future major of transactions will be taken by blockchains instead of using banks.