Blockchain or Banks: Which has a Better Security for Financial Transactions?

[Conasse]

But in most countries, any decent banks protect its customers against the fraudulent transaction. And you get refunded for any loss. The funds on your bank account are protected by the state in case the bank collapse etc

[Bugatti73]

For today, more guarantees and security has unfortunately the banking system. The bank has contracts, licenses, guarantees. In the cryptocurrency world there is only faith.

[H1N1]

Blockchain or Banks: Which has a Better Security for Financial Transactions?

By now, it’s highly likely that most of us understand how Blockchain technology has dramatically changed and how the world operates considerably. The Blockchain system is an openly distributed digital ledger technology behind the cryptocurrency industry. According to Alex Tapscott, the co-author of the Blockchain Revolution, the Blockchain technology is changing the concept of banking […]The post Blockchain or Banks: Which has a Better Security for Financial Transactions?


Read more: https://www.trackcoinmarket.com/en/crypto-news/33301/blockchain-banks-security-financial-transactions

From my opinion, blockchain is better for security because actually no one can steal your coin in the blockchain unless someone have your key.
More over, blockchain is decentralized, so it will be more secure than centralized system.

[tegarp90]

Blockchain or Banks: Which has a Better Security for Financial Transactions?

By now, it’s highly likely that most of us understand how Blockchain technology has dramatically changed and how the world operates considerably. The Blockchain system is an openly distributed digital ledger technology behind the cryptocurrency industry. According to Alex Tapscott, the co-author of the Blockchain Revolution, the Blockchain technology is changing the concept of banking […]The post Blockchain or Banks: Which has a Better Security for Financial Transactions?


Read more: https://www.trackcoinmarket.com/en/crypto-news/33301/blockchain-banks-security-financial-transactions

I think bank is more safe than cryptocurrency because there are some real people "manage" it.
Meanwhile crypto isn't, so if something bad happen we can't complain to anybody

[mahibul49]

i think blockchain is safe technology to use for security for financial transactions.
as you know blockchain is the most transparent system to run anything.bank is really risky than blockchain.

[VanityWallets2015]

Blockchain or Banks: Which has a Better Security for Financial Transactions?

By now, it’s highly likely that most of us understand how Blockchain technology has dramatically changed and how the world operates considerably. The Blockchain system is an openly distributed digital ledger technology behind the cryptocurrency industry. According to Alex Tapscott, the co-author of the Blockchain Revolution, the Blockchain technology is changing the concept of banking […]The post Blockchain or Banks: Which has a Better Security for Financial Transactions?


Read more: https://www.trackcoinmarket.com/en/crypto-news/33301/blockchain-banks-security-financial-transactions

Though banks are known for the best security in the present as it is the most popular form of investment and now there are millions of people around the world who are investing in banks and saving their money as banks provide the safest investment but bitcoin and other crypto currencies are the safest and the most secure one as their physical form does not exist and it only are in digital form as now people are trusting crypto currencies more as its transactions does not involve any third party seizure and also provides user anonymity.

[namcunguyen]

Blockchain technology can better security than banking on financial transactions because blockchain offers more advanced and transparent digital technology than banking. And if you were stolen on a blockchain, it could just be your fault.

[Harrisonimo]

Blockchain or Banks: Which has a Better Security for Financial Transactions?

By now, it’s highly likely that most of us understand how Blockchain technology has dramatically changed and how the world operates considerably. The Blockchain system is an openly distributed digital ledger technology behind the cryptocurrency industry. According to Alex Tapscott, the co-author of the Blockchain Revolution, the Blockchain technology is changing the concept of banking […]The post Blockchain or Banks: Which has a Better Security for Financial Transactions?


Read more: https://www.trackcoinmarket.com/en/crypto-news/33301/blockchain-banks-security-financial-transactions

It is definitely blockchain over the banks! A friend complained bitterly as regards the poor mode of operation of the banks especially when he had some very crucial transactions to make; really made him have some losses. I overheard his groanings and out of concern too, I just told him that it's high time the banks switched their modus operandum to that of blockchain! This will of course curb a lot of hassles being presently experienced.

[SistaFista]

Blockchain or Banks: Which has a Better Security for Financial Transactions?

By now, it’s highly likely that most of us understand how Blockchain technology has dramatically changed and how the world operates considerably. The Blockchain system is an openly distributed digital ledger technology behind the cryptocurrency industry. According to Alex Tapscott, the co-author of the Blockchain Revolution, the Blockchain technology is changing the concept of banking […]The post Blockchain or Banks: Which has a Better Security for Financial Transactions?


Read more: https://www.trackcoinmarket.com/en/crypto-news/33301/blockchain-banks-security-financial-transactions

Bank system is secure because there are many peoples maintaining your account, protecting the database, and provide services for you.
But in blockchain, you have your own responsible to secure and protect your wallet. Basically, no one can crack the blockchain, so the security is better than common database in bank system.

[beatzcoin123]

we all will agree that change is inevitable in every endeavor of life, once upon a time the banking system was the method of financial transactions, without doubts, the banking system has got it's loopholes and shortcomings, and that's what the blockchain technology has come to rectify. So 10 years back my answer would be that i prefer transactions from the banking system but the world has evolved and the blockchain technology is the new and safest method of financial transactions as it stands. the blockchain technology is decentralized thereby giving you the sole control over your financial transactions without a third party interference.

[awik p]

Blockchain or Banks: Which has a Better Security for Financial Transactions?

By now, it’s highly likely that most of us understand how Blockchain technology has dramatically changed and how the world operates considerably. The Blockchain system is an openly distributed digital ledger technology behind the cryptocurrency industry. According to Alex Tapscott, the co-author of the Blockchain Revolution, the Blockchain technology is changing the concept of banking […]The post Blockchain or Banks: Which has a Better Security for Financial Transactions?


Read more: https://www.trackcoinmarket.com/en/crypto-news/33301/blockchain-banks-security-financial-transactions

Bank system is secure because there are many peoples maintaining your account, protecting the database, and provide services for you.
But in blockchain, you have your own responsible to secure and protect your wallet. Basically, no one can crack the blockchain, so the security is better than common database in bank system.

different from me, in my opinion blockchain is safer against hacking. because you have to hack all the blocks. different from banks, where the centralized system is easier to hack

[ChandraGold]

blockchain is always my best choice for financial transactions because I like its anonymity and system. For me, blockchain is advanced technology and has a good security to use.

[MichaelOwen]

When it comes to safety, it's probably a more appropriate choice, as it provides you with a steady stream of interest, but bitcoin does not.

[Conasse]

The problem is still, we have the blockchain on the side A and the banks on the side B. But it isn't what we need, we need the side B merged with the side A. The blockchain is secured by maths, your bank account is secured by a refund from your bank.

[kapalmabur]

I wonder why there are still people who compare this problem, bank or blockchain?
even though indirectly they are not contradictory, because crypto users still need a bank, and for security issues it still depends on each user

[Bobby park]

Blockchain technology is immutable, transparent and public ledger. It provides decentralization for all people. Banks are centralized anf we don't know the inner transaction to it. Banks regulated the economy, it controls the flow of money to the people and regulate the growth or fall of economy.

[Al-e_x]

the blockchain is safer, and blockchain is believed can to improve the fintech industry, and of course, it will change manual and rigid ways.

not only safe, but the blockchain also increases accurate and fast transactions for cross country transactions.

Decentralized can solve with every attack, because there is always at least one server running to protect the transaction.

[kotajikikox]

Both have different kind safety security, we all should know banking industry are very secured specially the interst of their investor need to present idenfication before you can approve to put funds in the bank.

As of now blockchain is continue to improve in term of safety blockchain is front in the hackers, but the safety of the users is his hand need to choose good exhange with high security  fetaure with strong keys.

[Denton]

It is safer to conduct transactions in banks. They take security measures to ensure that your funds reach the addressee. It is very fast and convenient to make transactions in the blockchain, but you can make a mistake in the address, or your transaction can get stuck in the blockchain. In this case, you will not be able to return your money.

[RiskySanchez]

if the one that has been tested for security is a bank, while Blockchain is still developing, it is not fully 100% because officially the government has not approved the blockchain as a safe transaction. although for me personally the blockchain platform is very simple to use and fully uses the system transparently for its users