Can blockchain replace bank?

[bkbirge]

Banks will always exist because people will always think they need a central location to store their value that they perceive as safe. It isn't of course, but to change that perception and educate people about blockchain will take a generation.

[oOVVVVVVVOo]

   Blockchain is such a big book which contains all the records. Probably similar programs are in banks also...

[Nwankwobtt]

Blockchain encompasses a lot of system built connected on it. Banks can be built on blockchain and i believe that if there is enough global education as regards cryptocurrency and blockchain technology, yes people can become their own banks

[heartthew]

In theory, everything is clear and simple, but in practice you can see for yourself what happens because the top market is not occupied by the best coins for its technology and also the blockchain technology is much better than the current system, but when it is implemented it is not known 

[jakiro.hovard]

I think that today there are already sketches of smart contracts that will work and carry out all the algorithms that bank employees perform, I am sure that they will have different functions in the future, because bank employees need to hurry with additional courses

[Vika0170]

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?

Of course, blockchain can replace banks, and they are very much afraid of this, for this reason, banks begin to rebuild their system, begin to use blockchain in their lives, without it they will die and they understand it.

[Babyjamz3026]

Probably yes,but now it is simply a dream.
i want blockchain to replace banks, but it is not stable and has no liquidity...

[Denreal]

I do not know why people would think blockchain is able to replace bank. Bank has its own function and it's function is unavoidable. The same is applicable to blockchain, where it also has its own functions. One of the most important thing about the two, is that they can work hand in hand. Blockchain is a technology that is gradually being known and very soon, so many banks will integrate it into their system.

[Dwey]

Nope. Blockchain can never replace banks. Its like asking whether internet can replace banks. Blockchain is a technology. Banks will embrace it and use it as part of their system. However, cryptocurrencies more likely to take out a chunk of customer base from banking.

[blu.storm]

no the blockchain will not replace the banks because they are different technologies, but perhaps in the future more or less distant blockchain could become the main method of payment for everything or the banks could adopt its technology

[dimonarka]

I hope that this will happen soon! blockchain is convenient, fast and with minimal commission. I think that it is necessary to move on for a long time.

[Muhammad Muneeb]

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?

crypto may will not wipe out banking system but one day maybe it will be regualted by the banks for the fast and secure transactions..it is not easy to make baks disappear there is still need of banks like to store the money bearer checks, cross checks etc

[Spaffin]

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, the blockchain is just technology. Technology is not able to replace a well-tuned banking system for centuries. Not able to replace the banking system and cryptocurrency. The banking system performs much more functions than the entire cryptocurrency combined can perform.
For financial relations between individuals, a simplified cryptocurrency transaction system is very important, but for business, it is the banking confirmation of the transaction that is needed to provide the audit to the tax authorities.

[nityans]

The blockchain has all the possibilities to replace the Bank or be the main part of the banking system.
But there is a main question whether the Bank wants to be replaced by the blockchain, and while the interests of the banking system prevail over the blockchain.

[jekainvestor]

Yes, the Blockchain is suitable and takes not so high comission like the bank does. But I think that the bankers themselves wilk not allow to make this, only if they implement their own token that will be functioning in this direction.

[confreslamp]

If we will see more working products, than yes. There were so much ICOs that were aiming to achieve such goals, but still nothing happened and I am afraid if we would not see any working product, in the nearest future, such projects would die.

[Zythiphill]

I highly doubt that the blockchain will replace the Bank, the Bank was created a long time ago and has passed many tests of time and still exists

[Osayo]

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 is actually the future banks, and that is where we are all heading to. It will likely replace the banks completely maybe 20 years from now. This is just my prediction.

[readygoaw]

It can happen in the distant future. Now corporations won't allow that they took away a profit. As well as electric motors can not yet replace gasoline. But blokchain is very powerfull technology and it will definitely take its place in the global financial system

[megaplage]

I have heard about the banks that already tried usage of blockchain technologies and they were pretty successfull. It meand that experiments will continue.