Will Cryptocurrency change financial institutions completely?

[Upgrade00]

It is looking too far for now but i'm also saying bitcoin and whole crypto market is here to change all financial institutions completely.

Bitcoin? Probably. Altcoins? No!
Bitcoin is the only currency which I predict would survive, as a currency and a means of exchange. It could possibly outlive fiat currency as the world looks for a global currency to unite all states.

[pixie85]

It's already changing financial institutions. Crypto made banks open trading desks and even consider launching their own cryptocurrencies. Many banks are testing blockchain as a secure place to store information. I read that there was a Bitcoin exchange between 2 countries Argentina and Paraguay. It's happening as we speak!

[yusupjatigumilar]

It might take a long time to change the payment method using crypto currency because now only a few countries legalize the crypto currency only as an investment commodity, but even with rural areas that cannot access the internet, it will take a long time to get to that direction, but also not to close the possibility that this could happen just like the internet which was still considered impossible but finally can now fulfill the reality and really help our work.

[Huskarls]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

Change financial institutions as a whole?

I don't think that will happen, even though there are applications that provide policies for crypto use, it seems that there are still many people who reject this, as well as some of these institutions. I think this should be applied to some places before applied to whole institutions.

[BennyK]

The revolution has already began with the major disruption of the banking services. Cryptocurrency provides fast, smooth, secured, transparent and low cost transactions for its users on a well decentralized platform. The decentralization grants users the back to assume control over the finances and related transactions.

[Kelvinid]

The revolution has already began with the major disruption of the banking services. Cryptocurrency provides fast, smooth, secured, transparent and low cost transactions for its users on a well decentralized platform. The decentralization grants users the back to assume control over the finances and related transactions.

To anticipate such huge change in the system and so the wide adoption of blockchain technology, they used to move and accepting crypto's with in.
We heard that some banks offers crypto deposits and also ATM's which could take a lead for their acceptance also with this new technology. 

[BorisWCR]

I do think that crypto currencies will come to have a huge impact much more in the future. No doubt that it will totally change the financial institution in the world we are living into. Moreover, crypto currencies will come to lead the globel financial industry in the future ahead.

[MakeMoneyBtc]

Cryptocurrencies will surely have a big impact on the financial institutions and change the economy but until cryptocurrencies can completely take control over cash a lot of things will have to happen. Right now there are about 25 million people using bitcoin according to some researches made last year but there are billions of people in the world and everyone use cash. So in order for cash to be fully replaced by cryptocurrencies it would take at least 25 years in my opinion but it's impossible to even predict that since bitcoin is still something pretty new for the most majority of the population

[bettercrypto]

I think cryptocurrency will significantly change a lot of financial transactions but will not completely eliminate the fiat money or cash. This cash will be there to co-exist with cryptocurrency. There are transactions that will still need the use of cash. Remember that these cryptocurrencies are all digital. They have limitations.

[sunsilk]

They just can't get rid of it immediately. Do you have the source on where did they get that idea that all of these continents are starting to get rid of cash soon? The gov't of each country won't allow this to happen.

But going with the possibility, it can also be the digital cash but it's still the same fiat currency of that country. My thought on this is we're going there soon and it will happen gradually.

[KennyR]

Financial institutions were the key members with each and every economy related activities. Here, third party usage is big and they make a big earning out of the users pocket. This gets minimized with the usage of cryptocurrency and financial institutions will serve as always. Apart from this more financial institutions will begin adopting cryptocurrencies.

[BurgerCash]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

Sounds like they were in shilling mode. People in power don't voluntarily give up that power, it's a long and painful fight to make the world a better place.
But crypto does have the potential, and it is the first viable alternative to traditional finance. So that's a huge weapon for us.

[teddyelwyn]

I think we will rid of financial institutions in the next 5-10 years. We are going to become decentralized and utilize what is known as independent money. Have you ever heard of Ampleforth before? They're a project currently in testnet that is looking to accomplish exactly this!

[kurian]

There is no guarantee that cryptocurrencies will change financial institutions completely. But, it will have an effect on the future financial system. The application of technology is happening but, complete decentralization is hard to be implemented. I am not saying that it is impossible. Cryptocurrencies has its advantages and disadvantages,while traditional financial institutes has its drawbacks too. But it will take much time for people to get used to.

[minersday]

Blockchain technology is the main tech that will change how financial institutions operate. Cryptocurrency is just a payment system found on the blockchain technology network, without blockchain there is no cryptocurrency. In relation to removing or getting rid of cash, I don't think that is gonna be an easy thing, this can take about a century for that to be possible. just a few are aware of the use of cryptocurrencies and the majority strongly trust old traditional cash.

[gilangIDR]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

Cryptocurrency is a financial system that has now begun to be applied to several financial systems. Cryptocurrency is used because it has so many positive benefits, to support a much more sophisticated future, cryptocurrency is needed. The future will require far more flexible things and must also have a better level of security.

[nicecrypto]

I don't think it will change financial institutions completely but it will work hand in hand with financial institutions for a long time, using crypto as a means of transactions will be a choice made by people who want too, fiat will still be use by many because they are use to it, especially the less enlightened one's who have less knowledge about blockchain.

[Perunex]

I wouldn't say crypto's will change financial institutions. Why don't we leave the option of creating fiat crypto - USD on blockchain technology...
Blockchain will definetly change financial institutions. Not just banks, but stock markets, brokers etc. Blockchain will introduce digitalization of security and other assets. And that will be revolutionary.

[Kocret02]

Well I went to a NEO coin Developer Convention today and based off everything they were discussing it sounds like Europe, Asia, S. America and N. America are getting ready to completely get rid of cash and unite the entire global economy. Those of you blockchain developers what are your thoughts on this?

if indeed America will eliminate cash and unite globally it might be a good issue for crypto development, this is one of the popular things and this will pump crypto prices and lure investors to invest heavily because of this effect crypto prices will return up high.

[teejayrichard2]

well if your information is true then it is a welcomed development for the cryptocurrency community and this will for sure change financial institutions completely in our society. I sincerely do look forward to cryptocurrency being fully adopted by all nations soon enough.