Can blockchain replace bank?

[iTradeBit]

Experts are talking about the possibility of replacing current financial operations with operations built on blockchain technology. A process of developing legislative integration of technology into the existing banking system is already taking place in a number of countries, but I think a complete replacement will occur either in the future, not the nearest, or it will be most likely a symbiote from current banking system and the future of the blockchain technology.

[fortelen]

the system of blockchain containing computer codes will be suitable for security. It would be better if applied in the bank and help the bank than to replace it. and reasonably possible occurs if indeed many who adopt this technology because it is blockchain will be quite helpful to many areas, including the bank though.

[faceoff97]

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?

Exactly the reason why people choose blockchain, they want to be free from third party and complicated process for transaction. Cryptocurrency enables people to use money without the need of a trusted third party. Since Blockchain has open source technology, the people may publicly review which makes the  detection of potential vulnerabilities much more efficient, and fixing them quicker. Blockchain is the future. You might check out the newest wallet technology that maximizes the benefit of blockchain, here's the link: https://steemit.com/source/@hodler.tech/hodler-the-only-multiwallet-that-s-open-source-and-why-it-matters

[martushka27]

I am sure that banks will try to introduce the blockchain technology into their system. Perhaps there will be hybrid systems based on blockchain technologies.

[Gru minions]

When people will be able to put their trust on blockchain it will not take much time to replace the banking system.With that small time that technology find popularity  on many countries. But a lot of country also cannot trust that technology yet.But the blockchain technology is a replacement of banks and I think it will replace the banks with the people's acceptance.

[Delmore]

Banks will not be replaced. The problem of insufficient knowledge reserves can't judge you should learn. Don't forget that the emergence of banks has created the financial industry. The cryptocurrency is only the future financial industry. Blockchain is just the core technology. Future banks will also have it.

Yeah why not. It is quite possible that blockchain replace banks. If I can do everything which a bank does for me for some charges, I will never go to a bank and will do everything from my home with the help of blockchain technology. Blockchain will bring innovation in our lives and we will enjoy the world with a new experience of using blockchain technology.

[letecia012]

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?

Block chain is a technology Ang bank is a financial institution and both can replace each other because they have of different functions but they can work together to improve services and currently more and more banking institution who try to explore block chain technology to enhance their services.

[Cangkeman Wae]

It depends on government policy, it has been proven that blockchain transactions are faster and more effective than bank transaction systems so I hope blockchain can replace banks.

[BobBct]

Yeah i think, because blockchain is built for decentralized sending of money rather than banks you there are alot of process and people who you don't know holds your money before they send it to you and blockchain can replace that.

[felissss500@gmail.com]

it will ruin such a huge number of bankers. I don’t think that they will allow it once, simply because of the fact that millions of people will be left without work
except in super modern developed countries) but there are no such

[Welckomtome]

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?

is there any need for blockchain to replace banking system as they ade working separately atbleast right now as far as i know

[Welckomtome]

Yeah i think, because blockchain is built for decentralized sending of money rather than banks you there are alot of process and people who you don't know holds your money before they send it to you and blockchain can replace that.

tjere is no possibility that this will happen as lets remember some countries where tjey do not have proper banking system at all

[chairmanMao]

Blockchain is just a technology, and banks are a real institution. This is not the same thing at all, so there is no so-called substitution. But the blockchain technology is definitely going to be used by banks.

[sherenikaw]

In my opinion, the blockchain cannot replace the banks, at least in some years later. However, it doesn't close the opportunities that some banks may use the blockchain technology as one of their systems. it relates to how they will manage the banks in the future.

[HalseyBert]

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?

Blockchain can totally replace banks. Coins like Paragon, Cardano and Stellar can go very high. Paragon, especially is using blockchain right now and this will help everyone.

[bravehearth0319]

The blockchain is really a revolutionizing and a game-changing technology for the future. Maximizing the full potential of this technology is really helpful to speed up and improve significant processes in our modern world. However, replacing banks for financial transactions is far from happening. As of now, I can't see that story to happen, unless huge development would happen.

[drakewear322]

Maybe in 50 years but now now. Coins are not so popular in the world at this moment and they have to spread wider

[pooja1982]

Blockchain is a technology and bank is a financial institutions. I think it is impossible to replace the banking system by blockchain. But in my view blockchain technology can be used to create the digital bank transactions and to save fees for the customers in future. And also blockchain is better to make faster transaction.

[newb-dev]

Blockchain can develop a lot in the next years but we can not compare it with banks because it is different. It is a technology not an organization

[bixorastexante]

But can blockchain give you a credit or a small loan? I think blockchain is a good thing and it is able to do bank job but not all of it.