Are Cryptobanks Future?

[Spaffin]

first of all, I do not think "Crypto" and "bank" should be a word. because both are a different thing, I mean they are literally competitors. well, I do not think the crypto world needs the involvement of banking systems because that will make it centralized and the government will try to control it or make it illegal to use it. as for you new information if some people are already working on some crypto bank projects then I guess there is still a lot of experimentation needed. let's see how it goes with these crypto banks.

Cryptocurrency and banks in the future in any case will have to coexist together and it should be on mutually beneficial terms. Banks will be forced to provide certain services in cryptocurrency. So why don't they create crypto banks for this. This does not always mean centralization. Certain regulation of cryptocurrency will vseravno will be from the states. Therefore, I do not see anything wrong with that. People will always be able to refuse the services of such banks, after which their activity in cryptocurrency will be curtailed. In this case, they will either have to cease to exist, or repurpose themselves into ordinary banks.

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[Janation]

if they really do the job well and are in accordance with the plan and can be accepted by the crypto currency holders then they will be very developed like the FIAT currency bank. can even develop faster.

I don't like the idea of having a crypto bank.

I mean if you own a cryptocurrency, you are the bank of your own money. You don't need a company, a third party to take care of your bank for you. If you can invest in good cryptocurrencies, you should be able to take care of it as an investor. There are also a lot of things you can do to take care of your investments or your cryptocurrencies, you can just do it on your own.

[Zooplus]

if they really do the job well and are in accordance with the plan and can be accepted by the crypto currency holders then they will be very developed like the FIAT currency bank. can even develop faster.

I don't like the idea of having a crypto bank.

I mean if you own a cryptocurrency, you are the bank of your own money. You don't need a company, a third party to take care of your bank for you. If you can invest in good cryptocurrencies, you should be able to take care of it as an investor. There are also a lot of things you can do to take care of your investments or your cryptocurrencies, you can just do it on your own.

That's true, if there is a bitcoin bank, it will defeat the purpose of crypto which is doing banking even without bank.

[futile-resistance]

Cryptocurrency wasn’t meant to have banks, they are meant to give you complete control over your money and freedom from any organization like bank or whatsoever. So, anyone talking about banks in cryptocurrency is really joking and is likely to be a scam. Why would you even need a bank for your crypto when there are already lots of wallets that are offering the same things that you will find in banks.

But, don’t forget that extra stuffs like that means that you will have extra fees etc for you to pay. If there’s truly any bank for cryptocurrency, get ready for charges like card maintenance, monthly charges and all that and you wouldn’t like it, trust me.

[webmir]

Crypto banks are organizations for lazy people who are too lazy to install wallets on their devices.
But here the crypto exchange can solve this problem completely.

[blueteam09]

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen  the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

I agree with the comments you make because Crypto is becoming more popular and it surpasses FIAT when we learn and compare them. Many countries appear to have traditional inflation and currency that are no longer valid, and the governments of these countries have used Crypto as an alternative currency. I believe these countries will soon release their tokens for use in the nation to replace traditional currencies.

[matchi2011]

Cryptocurrency wasn’t meant to have banks, they are meant to give you complete control over your money and freedom from any organization like bank or whatsoever. So, anyone talking about banks in cryptocurrency is really joking and is likely to be a scam. Why would you even need a bank for your crypto when there are already lots of wallets that are offering the same things that you will find in banks.

But, don’t forget that extra stuffs like that means that you will have extra fees etc for you to pay. If there’s truly any bank for cryptocurrency, get ready for charges like card maintenance, monthly charges and all that and you wouldn’t like it, trust me.

Exactly, maintenance will be shouldered by participants who will cater this system, there's no need of any banks as bitcoin / crypto was created to be your own banks with full controls of your wallet, no need for this if adoption happens worldwide it will be between the two trading parties and nothing in the middle to charge some fees aside from the transaction fee itself.

[bittamak]

There are some of the sites which are already doing some of the banking features like lending, paying interest on the amounts deposited. So, are they going to work like a full fledged banks ? Currently not but future nobody knows.

[maianh09]

The cryptocurrencies or blockchain technology is going to be the future of our financial and banking system.  We should endeavour to be able to spend quality time studying it in other to be able to be part of the future.  If we abandoned blockchain technology the current banking system is not good in future.

Can Blockchain system make banks better? Peers always uphold the transparency of customers, but Blockchain always anonymizes users. Will banks accept this and synchronize the system with Blockchain? Blockchain can help banks become more transparent in trading, but it is anonymous.

[Virtual miner]

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen  the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

There are already some great projects which raised funds in their ICO claiming to make a crypto pank but none of them has so far delivered a suitable product. Moreover banks is something like an intermediary which violates the law of P2P settlement itself. Moreover states would never allow bank which is not in their control. So crypto banking is like a dream

[Whosdaddy]

Yes definitely cryptobank had the wild opening in the middle of the people in the society especially when economic situation will be critical in this cryptocurrency will be the most important think to solve the all problems so I think it will work in any kind of situation

I don’t really see why I should be making use of a crypto banks, there is nothing safe or good about it.
You’re just trying to make things worse for yourself by making use of cryptocurrency banks or whatsoever they call themselves.

I’m very sure that whatever services they are offering is not going to be free of charge, so they will be charging you, even monthly for keeping your money just like the real banks does. Making use of crypto banks will attract more charges more than what you should have paid for while using just an ordinary wallet. So I don’t like them, I don’t see anything wrong with my wallets either.

[richjohn]

If crypto went mainstream, then yes cryptobanks will follow too. I still doubt how will theh be regulated. Cryptocurrencies were meant to replace this type of monetary cycle. It is basically a p2p system. I doubt people will trust a third party in such cases. Government would definitely wont legalise it. I am interested to know how such a system will turn out.

[dEjAvOU]

If crypto went mainstream, then yes cryptobanks will follow too. I still doubt how will theh be regulated. Cryptocurrencies were meant to replace this type of monetary cycle. It is basically a p2p system. I doubt people will trust a third party in such cases. Government would definitely wont legalise it. I am interested to know how such a system will turn out.

As long as the state has not legalized crypto, it is difficult to see the future of the cryptobank, anyone is certainly afraid to put money in crypto because everything can be a scam.

[kumala_abi]

If crypto went mainstream, then yes cryptobanks will follow too. I still doubt how will theh be regulated. Cryptocurrencies were meant to replace this type of monetary cycle. It is basically a p2p system. I doubt people will trust a third party in such cases. Government would definitely wont legalise it. I am interested to know how such a system will turn out.

As long as the state has not legalized crypto, it is difficult to see the future of the cryptobank, anyone is certainly afraid to put money in crypto because everything can be a scam.

cryptobank not needed by cryptocurrency market.cryptocurrency was decentralized , and if we make bank for it i doubt it have function.just let crypto work by it own self , and if we regulated it on bank i am afraid it has no value about decentralized again.

[flash101k]

Most of the Governments won't do this! they need things to be centralized as they wanna keep an eye on everything! 

Nailed it, that's one of the hurdle of why the digital currencies and blockchain tech aren't advancing in each government.
They just need to keep an eye on the taxes in particular, if you dig deeper property taxes or estate taxes for digital currency.

Hiring will be one of the mandatory policies implemented if the government adopts Bitcoin acceptance orders. But they need so much. They want to have everything under control and to perform all the implications for it, so governments have not yet finalized drafts of Bitcoin and cryptocurrency.

[loopes]

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen  the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

Actually government won't make any regulation to make things complicated but to make everything safe. The purpose of cryptobanks is to funding a business then cryptobanks will have good future but if it's purposed to only become place to save cryptocurrency and pay the customer percentage of bank interest then I think it has not much different with conventional banks. I think we better invest in ICO rather than do the old way to earn profit. By the way our economic problem/crisis is caused by banks which makes wealthy people becomes  richer and poor people become poorer.

[shesheboy]

Crypto banks are organizations for lazy people who are too lazy to install wallets on their devices.
But here the crypto exchange can solve this problem completely.

if ever there were such thing as crypto banks i think they are more secure than a regular wallet or exchanges because they might work just like a bank . they can regulate your crypto and they will have personal access to the transaction that anyone had made  . plus they may also have other perks like daily , monthly and yearly interest which means you can earn some profit aside from the existing earnings from the volatility of the market  .

[salty]

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen  the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

I still want to believe in real decentralization, but apparently banks trying to take things into their own hands again.For me, crypto Bank is identified with an ordinary Bank.Crypto banks have a future,but it is vague.

[fuathan]

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen  the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

There are three phases we may need to go through before having society where cryptobanks are dominating. These phases are being assumed to happen based on how a new concept will be accepted and will be incorporated where security and convince are most valuable criteria.

In the first phase, traditional banks will adopt blockchain technology and few cryptos but customers will not be allowed to protected by decentralization's concepts but you may enjoy a part of crypto banking along with our current banking-centralized-system. I guess this is purely an evaluation just due to the emerging technology, blockchain. Both banking system and customers will realize the benefits of having a blockchain based system for their financial needs.

In second phase, people start to realize having a decentralized system for their financial needs which may lead to have non-regulated crypto based banking sector still you may need to depend on third party but your privacy and being anonymous kind of features will be provided. Your employer may prefer to pay in crypto using these banks and you pay taxes only for availing services and buying good but NOT at all for your income.

In third phase, people start realizing why they need a banking services when their wallet itself having all the functionalities of a bank. Now, you may not need to pay taxes even for services and goods as taxes are optional only if you prefer to declare your financial activities.

Yes, crypto banks are the future but it would take more time to function as a most commonly used system.

Really liked this scenario. However, it is more likely we will see more regulations and the system won't allow us to use totally decentralized and anonymous systems because of the taxation concerns of the governments. Even though people start realizing they don't really need conventional banking system, governments will push to keep centralized systems.

[Script]

I think this is real. Banks are already closely watching the new digital world. Yes, and involved with might and main. So far these are two parallel worlds, but I think that the law on two parallel lines does not work here. These parallel lines are sure to intersect. How it will look like, you can only guess. But it will be a new round in the economic development of cryptocurrencies and the whole world.