Can blockchain replace bank?

[spiker777]

Blockchain will work with the banks, I don't think it will replace it.

They are completely different entities, I think that most banks will look to incorporate blockchain into their work flow in order to mediate payment transfers between countries, rather than actually moving funds around as they do now. Place holder funds are the future.

[TastyChillySauce00]

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 if blockchain replaces bank the features will be diminished but it's good for us because we can earn money with it due to its highly in price and most fastest transactions .I hope it will remain regulated in higher price to earn much more.

in any case, the banking system will remain and the block chain will not be able to replace banks. I think that the banking system is keeping up with the times and will be able to adapt with the operation of the block chain.

Even the banker has a lot of interest to use the blockchain to replace their traditional system to minimize the cost. We know that there was a lot of companies are working with ethereum and bankers are working with the ripple blockchain. That means so many of them are interested to use blockchain and it will never replace the bank.

Quite true though. banks are taking advantage of the blockchain system to make everything more efficient. It's just matter of time until they figured out the best way to use blockchain and there's only a really slight chance that cryptocurrency could replace bank.
But hopefully it's possible for crypto to give an absolute alternative for those who don't like bank in the future.

[pacman7331]

Actually, I don't think Blockchain can replace banks. Maybe one-day blockchain and banks will work together. The blockchain is a revolutionary technology, A lot of things need to publish by the blockchain! Maybe one-day governments will accept blockchain tech in banks! Banks transactions or PayPal transactions are faster than Blockchain, but some altcoin is getting better and faster! So, this will be increasing and one-day Blockchain will work for banks too, This is just my personal view.

[SaoAccel]

I think the idea of physical assets and digital assets is still there and even though block chain has the advantage in advancements in accordance to transaction per second the fact that block chain assets will still be high volatile in comparison to bank assets that can maintain it's value as long as the country or company is doing well. So my asnwer is no.

[pedpedped101]

To me this is impossible because they are both working in difference ways. Blockchain is a technology while bank is an organization which makes the difference. They can't replace each others but can only be predicted working together. To me it all money and the bank's existence has been for long and will stay forever and it all goes with  choice. So don't be convinced with the two and remember cryptocurrency is just coming up and growinget.

[Gekkoo]

This question could use some time to be more incisive, because if it is in the next 10 years, I believe that few countries will have this real structure, but in the next 25 years I think it is possible that 70% of the countries are already integrating bitcoin! Unfortunately, there are many simple problems to be solved in countless countries today.

[Gatsby club]

It would be correct to say a little differently: Will banks be able to become virtual over time? I think yes, and the blockchain can help a lot in this. With help of the blockchain and smart contracts, most banking services can be provided to the public online, will not need to go anywhere.

[Corelianer]

Blockchain was created to replace the traditional forms of banks, it saves us from such unnecessary intermediaries

[Jamesdila1]

i dont think blockchain can fully replace banks but it can make things easier for bank. because when using blockchain the amount of human resources will be low. so the bank can save money more. so blockchain is a advantage for banks.

[itsik78]

Blockchain and cryptocurrency are powerful technologies that have great promise in the sector of international payments, intercountry payments. And, theoretically, these technologies allow banks to be removed from chains of transactions when transferring money between legal entities. But the blockchain and cryptocurrency banks will not be able to completely replace banks, because remittances are not the only function of banks.
Banks accept deposits and guarantee their safety. They also give loans to individuals and companies, playing the role of a natural hedge in the economy. When the country's economy is “stormy,” people try to save their money using deposits. In turn, this allows banks to lend to a business that badly needs funds in order to get through the crisis.

[daenarys_stormborn]

I think blockchain or crypto cannot replace banks, although crypto and banks have their own advantages, but crypto cannot provide services such as banks, such as borrowing capital funds, borrowing home loan funds etc.

[Thefrolly]

Blockchain is not here to replace banks but rather to give an improved way to actually carry out the transactions. The only way that the blockchain would end up replacing the banks is if the banks refuse to integrate the blockchain technology into their systems, cryptocurrencies are already making it possible for people to store their money themselves, fighting it would be useless.

[VeeraS]

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'm sure not, but if banks adopt blockchain it can happen,
and some rumors that banks are learning the blockchain system. I think in the future there will be many banks that use the blockchain system

[GeorgiyBilyk]

Banks can not be completely replaced with something! but you can embed the entire crypto system of the world in its structure! we will see a change in the banking system in the near future! The world is changing rapidly with the advent of the crypto industry! I was at the forum, there were representatives of the bank and they said: that the crypto industry is the future and they are actively introduced into it!

[zcashplan]

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?

Yes, the blockchain will replace the bank or be used by the bank, but this won't happen soon, it needs a process, maybe it will happen after 3-5 years.

[makishart]

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?

Yes, the blockchain will replace the bank or be used by the bank, but this won't happen soon, it needs a process, maybe it will happen after 3-5 years.

This system can't replace the institutional but it's possible to replace the system that has used by that institutional such as bank. You must understand about what's the definition of blockchain before you try to create any explanation or answer about that. You misunderstood about what's the definition of blockchain.

[Moshi Moshi]

it is possible that blockchain will replace bank but in my opinion it would be better if blockchain technology is combined with the banking system and it seems that many ICO projects have done that but it has already run or not I still don't know it.

[bitcoinm3ster]

This thing will happen if almost people whole the world accept to use cryptocurrency to exchange and use blockchain to storage personal transaction data. Employee of bank will not need much as now

[Lake20]

You are mixing it together, there is no way for blockchain to replace banking institution. Both are not the same, and even Cryptocurrency can not replace banks in our society. We need both of them for the better functioning of the society.

[Bitcoincole]

I would say yes it can make to replace the bank system by the blockchain technology because of its unique capabilty process that can record and protect digital data that will change the way we live in most facets of our life. A completely transparent ledger that records every transaction in existence for a certain coin, and anyone can look at those transactions.