Can blockchain replace bank?

[awazieik]

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 key things that make crypto more reliable than banks is the transparency and low cost fees. The question is not whether blockchain can replace the banks because use cases show it can. The issue is if government or banks are willing to switch to this technology, bearing in mind that they need to become transparent.

[okaypool]

To date, the blockchain is not yet ready to completely replace the banking system. There are still a lot of bad things that need to be eliminated. In future? Yes! I admit this opportunity!

[iljamlnk]

Perhaps in the future, banks will use blockchain technology, I think it would be very convenient.

[xuv500]

Blockchain and banks are in different field and capability.
Blockchain will stay forever and many businesses will adopt this technology.
While banks will not disappear as they will adjust with cryptocurrency for the people to continue use them.

Yes I agree, banks and blockchain are entirely different as there are many major set backs in cryptocurrency. Bank will provide real money as loan, credit etc. Similarly you do not have such option here. Government will look into the entire process and it's stability.

[trash321]

If you ask this question, then I think that you should already understand that such questions imply a very large amount of faith in you, think for yourself, blockchain is just a registry, but if you add smart contracts there, everything will work.

[riskarcher]

of course that will happen, if each blockchain technology has clear asset and transparency security to protect its consumers from losses due to blockchain it is an investment whose value changes. especially for every situation market

[senin]

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, neither blockchain technology nor cryptocurrency will ever be able to replace banks. This is impossible if only because banks perform a number of specific functions. Banks serve the economy of each state, the state budget, crediting the economy and social programs, maintain current and other accounts of businesses and individuals, and much more. Banks actually became part of the state and will exist as long as the state exists.

[AndRE177]

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?

Theoretically, he can do it. The main thing that the project team has registered a legal entity in the pages where it will carry out activities.

[o.ogurlu]

I don't think that's gonna happen in the near future. Perhaps 4-5 year later, banks will start to use blockchain technology. But I think it is impossible for the banks to close completely.

[pleci]

of course that will happen, if each blockchain technology has clear asset and transparency security to protect its consumers from losses due to blockchain it is an investment whose value changes. especially for every situation market

maybe Blockchain can replace banks, but I think it's still very far because it's not easy to replace something that has been attached to many people, especially banks are still fine now.
but if the bank uses blockchain technology then I think the possibility is very big to happen.

[Luvr1000]

Of course, maybe today I know several projects that want to introduce blockchains in the bank’s system, and there are several world banks that are already considering such a proposal.

[carrie_white]

I don't think the blockchain will be able to replace a bank, even though Crypto has an advantage that is not owned by the bank, but the bank also has advantages that Crypto does not have, and both of these cannot be replaced

[almiani]

I think blockchain is not created to replace existing structures, they are present as a complement or other alternative that can be an option

[Pffrt]

"Will the banks use blockchain technology?"

Banks are already using blockchain for transactions. Ripple can be a good example but the only thing I hate about Ripple is about their centralized system. There is no mean of being centralized. Anyway, I think soon people will force Banks to use blockchain.

[braves182]

I see a great interest in banks to decentralized systems, many are already testing the blockchain in their work. Blockchain provides great opportunities for banks in the field of smart contracts for automation of their activities. But everyone is waiting for proper regulation, at least in my country. At such moments, I want to move to Japan.

[drlukacs]

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 blockchain is a technology-only concept that is used in many industries, not just cryptocurrency. Therefore, it can not be said that blockchain can replace the bank as this is totally unfounded. That I can assert that cryptocurrency cannot replace the bank in the future.

[kanmo]

Blockchain and bank are different. Blockchain is a new technology that brings improvement on the technology used by bank. Therefore its not possible for blockchain to replace bank because bank is an organization while blockchain is a technology. Its however possible that in the future, the banks may adopt the blockchain technology.

[Sondale]

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 really doubt about that though i believe that cash will be replaced soon but not with cryptocurrency people will not like it

[Sondale]

Blockchain and bank are different. Blockchain is a new technology that brings improvement on the technology used by bank. Therefore its not possible for blockchain to replace bank because bank is an organization while blockchain is a technology. Its however possible that in the future, the banks may adopt the blockchain technology.

there are a lot of things that can be done with pur banking system in my and other countries but i doubt that it is necessary

[Fredrosam]

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?

our blockchain system is not perfect and i do not think tht there is any reason to replace one unperfect system by another one