Are cryptobanks the financial model of the future?

[CyberMiles]

2019 is less than a month away. For many in the crypto space, this year may as well be sooner done. But it hasn't been all that bad if we look at the technical part of the industry. Crypto banking is one of the winners with a growing momentum seen so far in this last quarter. Taking a few highlights as cases in point, we had Noomi Wallet launch. It is said it is set to "elevate crypto banking in Blockchain 3.0 era" by building a Virtual Financial Assets (VFA) solutions for the blockchain ecosystem. Europe's first complete crypto nanking solution is coming with a complete Banking as a Service (BaaS) solution on the EOS Blockchain. And as recently as Nov. 22, SEBA Crypto AG (founded by former UBS Bank managers) announced a partnership to build Tempest 'Level A' cold storage for cryptocurrencies, barely a month after raising mega-round funding to build a bank offering crypto services.

https://coincodex.com/article/2705/are-cryptobanks-the-financial-model-of-the-future

[Yabuy92]

2019 is less than a month away. For many in the crypto space, this year may as well be sooner done. But it hasn't been all that bad if we look at the technical part of the industry. Crypto banking is one of the winners with a growing momentum seen so far in this last quarter. Taking a few highlights as cases in point, we had Noomi Wallet launch. It is said it is set to "elevate crypto banking in Blockchain 3.0 era" by building a Virtual Financial Assets (VFA) solutions for the blockchain ecosystem. Europe's first complete crypto nanking solution is coming with a complete Banking as a Service (BaaS) solution on the EOS Blockchain. And as recently as Nov. 22, SEBA Crypto AG (founded by former UBS Bank managers) announced a partnership to build Tempest 'Level A' cold storage for cryptocurrencies, barely a month after raising mega-round funding to build a bank offering crypto services.

https://coincodex.com/article/2705/are-cryptobanks-the-financial-model-of-the-future

it could be, but it is always a problem because the financial decentralization system will not be centralized, while what we know is that the government is very influential on the country's economy if there is agreement from the center, I am sure it will be achieved

[bttmember]

They can sure be but the negative side of the story is that i have been listening about all these crypto banks from last couple of years but we have not seen even one fully functional crypto bank, the hurdle has been the compliance, licensing, regulation and registration and green signal from the financial authorities, the bottom line is that such a project is not simple and the process it requires is time consuming and complex, still im hopeful that during next year we get to see some functional crypto bank.

[aoluain]

Well there probably will be a future for crypto banking but I wont be using
the services of a crypto bank. I dont see a necessity really.
At the moment i am in full control of my crypto funds and im not going to
hand that control over to someone else.
Because of bitcoin we can control our funds this is the idea behind it.

[jcpone]

These current and upcoming cryptobanks are and will be th first of its own, however, these might not be the ideal financial model for them to flourish totally. We haven't seen them operational in full blasts. One of my concern is the security. As of now only users for these cryptobanks, but as soon as more investors use these banks then they have got the attention of hackers.

[Checkoi]

Yes, I believe that it is the cryptobank in the future that will rule the world and that is where we will keep our money

[mightwalker]

I don't think crypto is ideal for a banking organization because of its anonymous.

[xuv500]

If the banks Join hands with the crypto users It is possible, I think this should not be done because block chain is made only to avoid the third party and that's the reason people prefer to Invest in crypto else what's the use? Think about it.

[kidbounty]

2019 is less than a month away. For many in the crypto space, this year may as well be sooner done. But it hasn't been all that bad if we look at the technical part of the industry. Crypto banking is one of the winners with a growing momentum seen so far in this last quarter. Taking a few highlights as cases in point, we had Noomi Wallet launch. It is said it is set to "elevate crypto banking in Blockchain 3.0 era" by building a Virtual Financial Assets (VFA) solutions for the blockchain ecosystem. Europe's first complete crypto nanking solution is coming with a complete Banking as a Service (BaaS) solution on the EOS Blockchain. And as recently as Nov. 22, SEBA Crypto AG (founded by former UBS Bank managers) announced a partnership to build Tempest 'Level A' cold storage for cryptocurrencies, barely a month after raising mega-round funding to build a bank offering crypto services.

https://coincodex.com/article/2705/are-cryptobanks-the-financial-model-of-the-future

it could be, but it is always a problem because the financial decentralization system will not be centralized, while what we know is that the government is very influential on the country's economy if there is agreement from the center, I am sure it will be achieved

yes, as long as the government wants to accept it, this might work. but it seems to be very difficult to happen, because until now the government seems to be still loyal to the old way.

[Considered]

I would not exactly say they are the financial model for the future but yea they are going to be a big part of that financial model since at that point the blockchain technology would be integrated into the financial systems to make them faster and more efficient for use. The cryptocurrencies are going to be the currencies of the future though

[chakhigh]

Crypto banking is a promising target to achieve sooner than later! But, ues, there are a number of blocks facing every Crypto banking project.. including, licensing, gov's restrictions and the authority's centralized mindset. we have to look differently and start by making new partnerships with Banks to adopt cryptocurrency. Here's where Gigzi project/ecosystem comes to place.. This latter will make an agreement with many local banks to do crypto to fiat conversion. Moreover, it will use a solid precious metal backing for crypto-asset price. This way, we can guarantee a less volatilily and more price stability.. So, I think crypto banking is promising when we know how to deal with it.

[Findingnemo]

I would not exactly say they are the financial model for the future but yea they are going to be a big part of that financial model since at that point the blockchain technology would be integrated into the financial systems to make them faster and more efficient for use. The cryptocurrencies are going to be the currencies of the future though

I don't know the word crypto-banks is appropriate or not! Because cryptos were created to destroy banks so we are having our own financial banks by ourselves if cryptos used by everyone for payment system.