Bitcoin Forum
March 29, 2024, 06:31:37 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: What would you prefer to use in the future for banking?  (Voting closed: October 24, 2019, 07:27:54 AM)
Traditional Banks - 2 (10.5%)
Digital Banks - 17 (89.5%)
Total Voters: 19

Pages: « 1 2 [3] 4 5 6 »  All
  Print  
Author Topic: The 2nd generation of banking is going digital  (Read 870 times)
Harlot
Hero Member
*****
Offline Offline

Activity: 1806
Merit: 671


View Profile
October 20, 2019, 05:59:22 PM
 #41

I think the OP is mixing up his understanding of banks that there are are two kinds of it one is what he calls “traditional banks” where their clients go to the branches to make transactions and the other one is where they can transact online or using atms or their phones. If that is his understanding then he is truly wrong about it since what he calls “traditional banks” are also the ones evolving into digital ones since its how they keep up with the technology surrounding it and of course against their competition. The fun thing about this is some banks are already applying blockchain into their system as well as including crypto onto their businesses.
"You Asked For Change, We Gave You Coins" -- casascius
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1711693897
Hero Member
*
Offline Offline

Posts: 1711693897

View Profile Personal Message (Offline)

Ignore
1711693897
Reply with quote  #2

1711693897
Report to moderator
1711693897
Hero Member
*
Offline Offline

Posts: 1711693897

View Profile Personal Message (Offline)

Ignore
1711693897
Reply with quote  #2

1711693897
Report to moderator
1711693897
Hero Member
*
Offline Offline

Posts: 1711693897

View Profile Personal Message (Offline)

Ignore
1711693897
Reply with quote  #2

1711693897
Report to moderator
coolcoinz
Legendary
*
Offline Offline

Activity: 2576
Merit: 1101



View Profile
October 20, 2019, 07:26:05 PM
 #42

It's probably a bad idea to go full digital and deny people access to physical money. It's a great way to making fiat completely traceable and give more power to the government. Like in that movie enemy of the state, they will be able to completely cut you off, wipe you out of any records, make you a ghost, who is unable to even buy a meal. Having cash at hand has its benefits, especially when you're not a submissive type.

dentolas
Member
**
Offline Offline

Activity: 854
Merit: 12

arcs-chain.com


View Profile
October 20, 2019, 07:31:54 PM
 #43

the thing is that cryptocurrencies have brought the possibility for each person to become it's own bank, bank services will partly split between crypto finance companies that grant loans and credit cards, etc, and each person own personal management...
huge bank fees, abuses, etc are doomed to end
probably traditional banks will adapt to provide double crypto-fiat services, but in the end, most of their exploitation business is gone
(nowadays you can also send fiat money from one place to the other without banks via multiple service providers)

► ARCS ◄ ♦ ARCS - The New World Token (*Listed on KuCoin) ♦ ► ARCS ◄
───●✦●───●✦●───●✦●───●✦●───●✦●─[   Bounty Detective   ]─●✦●───●✦●───●✦●───●✦●───●✦●───
Website◂ | ▸Twitter◂ | ▸Medium◂ | ▸Telegram◂ | ▸Whitepaper
ActAshton (OP)
Jr. Member
*
Offline Offline

Activity: 215
Merit: 7

Cobain of Crypto


View Profile WWW
October 21, 2019, 01:59:04 AM
 #44

I think the OP is mixing up his understanding of banks that there are are two kinds of it one is what he calls “traditional banks” where their clients go to the branches to make transactions and the other one is where they can transact online or using atms or their phones. If that is his understanding then he is truly wrong about it since what he calls “traditional banks” are also the ones evolving into digital ones since its how they keep up with the technology surrounding it and of course against their competition. The fun thing about this is some banks are already applying blockchain into their system as well as including crypto onto their businesses.

I don't see how BofA or Wells Fargo or any of these other tradtional banks are turning "digital" with just their mobile apps and inner b2b transfers. The term digital banking is referring to these banks that can operate the same way as these bigger players but do not need to physically have a branch. They are more flexible in this case as they can partner with different corresponding banks, implement blockchain technology (RippleNet is the best example), provide insured custody for digital assets, etc.

There is much more flexibility in this case. Look at EQIBank, Revolut, N26, and more. EQIBank differs because they actually have a bank license but they're all very similar in the end.
Oneandpure
Sr. Member
****
Offline Offline

Activity: 2002
Merit: 306



View Profile
October 21, 2019, 03:36:32 AM
 #45

I see that the digital nature of the new banking system is actually giving cryptocurrency the help in growing. Some crypto systems are already understood by people because they are already getting use to the digital banking. For example, with many banks operating the card system, atms, KYC verifications etc they are thus not new again. The bitcoin ATM is not new nor strange because people are already use to the fiat ATM .
People have ready using fiat ATM but will have the same system with bitcoin ATM? we need give way how to socialization using bitcoin ATM to many people how to withdraw or how to check balance in bitcoin ATM, just adopt bitcoin as digital banking make many people where save money by traditional way want move to bank have adoption bitcoin as saving payment, become bank digital currencies crypto payment have many benefit for bank member.

███████████████████████
████████████████████
██████████████████
████████████████████
███▀▀▀█████████████████
███▄▄▄█████████████████
██████████████████████
██████████████████████
███████████████████████
█████████████████████
███████████████████
███████████████
████████████████████████
███████████████████████████
███████████████████████████
███████████████████████████
█████████▀▀██▀██▀▀█████████
█████████████▄█████████████
███████████████████████
████████████████████████
████████████▄█▄█████████
████████▀▀███████████
██████████████████
▀███████████████████▀
▀███████████████▀
█████████████████████████
O F F I C I A L   P A R T N E R S
▬▬▬▬▬▬▬▬▬▬
ASTON VILLA FC
BURNLEY FC
BK8?█▀▀▀











█▄▄▄
.
PLAY NOW
▀▀▀█











▄▄▄█
abel1337
Legendary
*
Offline Offline

Activity: 2464
Merit: 1145

FOCUS


View Profile WWW
October 21, 2019, 05:30:48 AM
 #46

Everyone opts for convenience and this is what makes digital banking receives more attention as compared to the old traditional banking. In the near future, there will be more cryptocurrency related banks across the globe because there are projects which have already started this. Ridivi is a classical example as it intends to integrate cryptocurrency and banking.
Yes, of course, Everyone wants comfortability and comfortability comes with the future. Some banks may be open for bitcoin adaption but there are different factors why they can't adopt it. Banks may find a way to adopt blockchain technology in the future without not abiding the laws of the states.
Murat
Hero Member
*****
Offline Offline

Activity: 2156
Merit: 711

Telegram @tokensfund


View Profile
October 21, 2019, 06:19:36 AM
 #47

This is a really real issue that the Banking system is the core of any monetary system, without the Banking system we can't do many things which are very essential to us, not only that but also We can't transact anything without the banking system. so this banking system is providing more facilities than the previous days because of getting a digital system. When you are adopting this digital system then it could be easier and comfortable for both user and service providers, so it's a getting challenge for the blockchain system to provide the service more updated. I think when you get a fully digital system then it must be more user-friendly regarding the regular transaction.

ReiMomo
Sr. Member
****
Offline Offline

Activity: 2366
Merit: 305


Duelbits - $100k Bonus/week


View Profile
October 21, 2019, 09:20:48 AM
 #48

Everyone opts for convenience and this is what makes digital banking receives more attention as compared to the old traditional banking. In the near future, there will be more cryptocurrency related banks across the globe because there are projects which have already started this. Ridivi is a classical example as it intends to integrate cryptocurrency and banking.
Yes, of course, Everyone wants comfortability and comfortability comes with the future. Some banks may be open for bitcoin adaption but there are different factors why they can't adopt it. Banks may find a way to adopt blockchain technology in the future without not abiding the laws of the states.
Definitely right.
That's really good to hear. If that will happen, I think it's more convenient for a lot of people because it will be less hassle to them especially there's no need for them to go to banks to line or ques. Digital bank is easier and hassle-free and looking forward to that to happen all over the world as soon as possible.

.
Duelbits
█▀▀▀▀▀











█▄▄▄▄▄▄▄
TRY OUR
  NEW  UNIQUE
GAMES!
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
DICE 
.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
███████████████████████████████
███▀▀                     ▀▀███
███    ▄▄▄▄         ▄▄▄▄    ███
███   ██████       ██████   ███
███   ▀████▀       ▀████▀   ███
███                         ███
███                         ███
███                         ███
███   ▄████▄       ▄████▄   ███
███   ██████       ██████   ███
███    ▀▀▀▀         ▀▀▀▀    ███
███▄▄                     ▄▄███
███████████████████████████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
MINES 
.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
███████████████████████████████
████████████████████████▄▀▄████
██████████████▀▄▄▄▀█████▄▀▄████
████████████▀ █████▄▀████ █████
██████████      █████▄▀▀▄██████
███████▀          ▀████████████
█████▀              ▀██████████
█████                ██████████
████▌                ▐█████████
█████                ██████████
██████▄            ▄███████████
████████▄▄      ▄▄█████████████
███████████████████████████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
PLINKO 
.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
███████████████████████████████
█████████▀▀▀       ▀▀▀█████████
██████▀  ▄▄███ ███      ▀██████
█████  ▄▀▀                █████
████  ▀                    ████
███                         ███
███                         ███
███                         ███
████                       ████
█████                     █████
██████▄                 ▄██████
█████████▄▄▄       ▄▄▄█████████
███████████████████████████████
10,000x
MULTIPLIER
▀▀▀▀▀█











▄▄▄▄▄█
meliodas
Sr. Member
****
Offline Offline

Activity: 742
Merit: 329

CryptoTalk.Org - Get Paid for every Post!


View Profile
October 21, 2019, 09:23:54 AM
 #49

I also think the same way for the banks. Banks will not have any choice but to go with the trend of the internet technology. The cryptocurrency's blockchain technology will become the start for the banks to adapt to its transformation to become a digital bank. People will prefer faster and more secured type of banking and with the power of blockchain, it would really become a real existing product.

 
                                . ██████████.
                              .████████████████.
                           .██████████████████████.
                        -█████████████████████████████
                     .██████████████████████████████████.
                  -█████████████████████████████████████████
               -███████████████████████████████████████████████
           .-█████████████████████████████████████████████████████.
        .████████████████████████████████████████████████████████████
       .██████████████████████████████████████████████████████████████.
       .██████████████████████████████████████████████████████████████.
       ..████████████████████████████████████████████████████████████..
       .   .██████████████████████████████████████████████████████.
       .      .████████████████████████████████████████████████.

       .       .██████████████████████████████████████████████
       .    ██████████████████████████████████████████████████████
       .█████████████████████████████████████████████████████████████.
        .███████████████████████████████████████████████████████████
           .█████████████████████████████████████████████████████
              .████████████████████████████████████████████████
                   ████████████████████████████████████████
                      ██████████████████████████████████
                          ██████████████████████████
                             ████████████████████
                               ████████████████
                                   █████████
YoBit AirDrop $| 
Get 700 YoDollars for Free!
🏆
TGD
Hero Member
*****
Offline Offline

Activity: 1288
Merit: 619


Wen Rolex?


View Profile
October 21, 2019, 09:32:43 AM
 #50

It's probably a bad idea to go full digital and deny people access to physical money. It's a great way to making fiat completely traceable and give more power to the government. Like in that movie enemy of the state, they will be able to completely cut you off, wipe you out of any records, make you a ghost, who is unable to even buy a meal. Having cash at hand has its benefits, especially when you're not a submissive type.
Relying in bank online transaction in our country is not really convincing due to records of many loss amount, being hacked and the almost weekly maintenace of their system that lessen the comfortability people's aiming. It is better to do transactions in crypto wallets than in online banks apparently cashing out needs bank or remitances. If stores, schools will accept crypto it will be less hassle even no bank arounds.

Don't mind me | Just checking out here for Duelbits Promotion | Bitcoin 1M | Duelbits no 1
darewaller
Hero Member
*****
Offline Offline

Activity: 2772
Merit: 634



View Profile
October 21, 2019, 06:28:33 PM
 #51

There is a small clarification i would like to make, future of banking can be traditional by taking every function at the comfort of your home and you can even call it digital banking and you will be able to do everything virtually and that does not mean all the physical offices should be shut down, if you mean going digital means by going to the crypto based market then i do not want any crypto based bank as bitcoin is meant to have full control over your asset and not to trust a third person.
If we start having cryptocurrency banking again, then one of the features of cryptocurrency has already been defeated because part of the purpose of bitcoin is to eliminate the third party in our financial transactions which has been making transactions even more expensive because these third parties are more of their own pocket alone.

The financial system has already gone digital already and whatever banking system that we want is already at the palm of our hands, so I think that we should stop looking any further for any digital banking in form of physical establishment as it would not be much different from the already existing old fiat system of government which we are all trying to completely eliminate for a better financial transaction.

████████████████████████
.
SPORTS
███████▄███▄▄
█████████▀▀████▄▄
▄███▄▄███████▀▀████▄▄
███▀█████▄███████▀▀███▄
████████████▄▄█████████
█████████░▀▀████▄▄████▀
████████████████████
█████████░▄▄████▀▀████▄
████████████▀▀█████████
███▄█████▀███████▄▄███▀
▀███▀▀███████▄▄████▀
█████████▄▄████▀▀
███████▀███▀▀
bets.io
████████████████████████
.
CASINO
target
Legendary
*
Offline Offline

Activity: 2212
Merit: 1041


Undeads.com - P2E Runner Game


View Profile
October 21, 2019, 06:41:15 PM
 #52



Looks very desperate attempt for banks to once again be relevant in crypto age. During the first years of crypto, we have already learned that owning a wallet means you are your own bank, you don't need a 3rd party to watch over your funds. You don't need any of the services but can make transactions to whom you wanna make deals.

2nd generation banking is just not ideal now. The banks had made it very uncomfortable for its customers for a long time but now that something has come up, they wanna grab attention to offer new that is still outdated.

💀|.
   ▄▄▄▄█▄▄              ▄▄█▀▀  ▄▄▄▄▄█      ▄▄    ▄█▄
  ▀▀▀████████▄  ▄██    ███▀ ▄████▀▀▀     ▄███   ▄███
    ███▀▄▄███▀ ███▀   ███▀  ▀█████▄     ▄███   ████▄
  ▄███████▀   ███   ▄███       ▀▀████▄▄███████████▀
▀▀███▀▀███    ███ ▄████       ▄▄████▀▀████   ▄███
 ██▀    ▀██▄  ██████▀▀   ▄▄█████▀▀   ███▀   ▄██▀
          ▀▀█  ▀▀▀▀ ▄██████▀▀       ███▀    █▀
                                      ▀
.
.PLAY2EARN.RUNNER.GAME.
||VIRAL
REF.SYSTEM
GAME
|
████████████████████████████
████████████████████████████
████████████████████████████
██████ ▄▀██████████  ███████
███████▄▀▄▀██████  █████████
█████████▄▀▄▀██  ███████████
███████████▄▀▄ █████████████
███████████  ▄▀▄▀███████████
█████████  ████▄▀▄▀█████████
███████  ████████▄▀ ████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████████████████████████
████████▀▀▄██████▄▀▀████████
███████  ▀        ▀  ███████
██████                ██████
█████▌   ███    ███   ▐█████
█████▌   ▀▀▀    ▀▀▀   ▐█████
██████                ██████
███████▄  ▀██████▀  ▄███████
████████████████████████████
████████████████████████████
████████████████████████████
mazdafunsun
Full Member
***
Offline Offline

Activity: 490
Merit: 123



View Profile
October 21, 2019, 07:12:28 PM
 #53

I dont see this as second generation of banking . The thing is that succeseful banks are using digital aspects in their advantage.
If we think what is bank in leymans therms then the simple definition is that it is a provider of financial serivices and is regualted by banking laws.
The same applies in digital banking. Bank or if you want to use the modern term - fintech provides those services in digital enviroment as it did in physical enviroment, laws apply nevertheless, KYC applies nevetheless also.

Google+
Hero Member
*****
Offline Offline

Activity: 2380
Merit: 550


Leading Crypto Sports Betting & Casino Platform


View Profile
October 21, 2019, 11:02:10 PM
 #54

indeed, as technology develops, finance can use digital currency technology as applied today. A large number of digital currencies are created, in the future many will use digital technology and will implement a reduction in paper money.

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
Kakmakr
Legendary
*
Offline Offline

Activity: 3402
Merit: 1944

This space is availlable for advertising


View Profile
October 22, 2019, 07:33:16 AM
 #55

In my country Banks are closing more and more of their local "Brick n Mortar" branches as they move forward with electronic Banking on smart phones and via Internet Banking. I can do almost anything through my Bank App on my mobile phone or through Internet Banking on my computer now.

The second generation of Banking is a shift to a digital Banking alternative, where a physical visit to a Bank would be a rare occasion.  Wink  I hate Banks, but my work does not want to pay my whole salary with Bitcoin, so I am forced to use it.  Angry

Signature space availlable -Just DM me if you need some advertising.
Favour200
Jr. Member
*
Offline Offline

Activity: 68
Merit: 1


View Profile
October 22, 2019, 07:38:08 AM
Merited by AdoboCandies (1)
 #56

My opinion is that having a central bank for all purposes can lessen the hassle on every user since the process would be quite simplified . Going digital will really help the cryptocurrency space.
cryptoknightt
Sr. Member
****
Offline Offline

Activity: 1189
Merit: 251


View Profile
October 22, 2019, 07:45:18 AM
 #57

banks in the future should be able to implement everything with digital currency because using digital currency will make the world cleaner because it will certainly reduce the use of paper money, if applying digital will make transactions easier.
ActAshton (OP)
Jr. Member
*
Offline Offline

Activity: 215
Merit: 7

Cobain of Crypto


View Profile WWW
October 22, 2019, 08:20:40 AM
 #58

banks in the future should be able to implement everything with digital currency because using digital currency will make the world cleaner because it will certainly reduce the use of paper money, if applying digital will make transactions easier.

You will need the proper partnerships to make any of this happen. They have to be extremely on top of their business and provide an excellent reputation if they plan on working with banks. Let alone, this is something to look forward to in the future.
suvo05
Sr. Member
****
Offline Offline

Activity: 1162
Merit: 260



View Profile
October 22, 2019, 12:19:28 PM
 #59

Bank always tries to generate profit so they uses every available technologies they can. So it is not a surprise that they will go digital. Not only digital banks are also looking for blockchain technology to implement on their system. And i hope that we will very soon see the banking systems are running in the blocking technology.

Kakmakr
Legendary
*
Offline Offline

Activity: 3402
Merit: 1944

This space is availlable for advertising


View Profile
October 23, 2019, 06:14:32 AM
 #60

My opinion is that having a central bank for all purposes can lessen the hassle on every user since the process would be quite simplified . Going digital will really help the cryptocurrency space.

How does a centralized Bank simplify the process? Centralized Banks are the root of all our economic problems, because when these centralized institutions are corrupted and influenced, the whole economy suffers.  Angry 

We need a decentralized financial system, without the influence of any centralized entity that can be corrupted, to heal our financial systems. There are simply too much manipulation and corrupt groups of people that infiltrated the global economic systems and they are destroying it from within.  Angry

Signature space availlable -Just DM me if you need some advertising.
Pages: « 1 2 [3] 4 5 6 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!