Say Goodbye to Banking as We Know It

[Oilacris]

More countries are into blockchain adoption. This is a forward move, but countries are specific in their stand of supporting blockchain technology and standing against cryptocurrency usage particularly bitcoin. China once a big supporter of Bitcoin is now supporting blockchain and in the plan of having their own cryptocurrency. Maybe this can take place with more countries, but there needs to be some common asset that unifies everything. This role probably taken by bitcoin.

If this will happen this year, I think nothing will change in the world's economical status but this will be a little help to improve our economical status. There are still a lot of countries who does not support the cryptocurrency because they lacked knowledge about the crypto world but if the US and China launch their first ever coin and announce it to the public, I think that scenario will be a big help to cryptocurrency to be introduced all over the world and also I think that more countries will be encourage also to build their own virtual coin.

It wont really takes too much time for other countries not to know about blockchain technology since there are already countries that do consider
for this innovation to be implied into their own system.

Talking about this year? No it wont really be that early but pretty sure we are heading towards that possibility.Goodbye to banking?Its impossible
there would be changes but doesnt mean it would vanish.

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[luppecuppe]

I don't think it would be a national cryptocurrency. The existence of this market is against the interstate economy. Bitcoin has no owner. I don't think states need to go on an adventure like this. A firm that has the means of production can establish a real dominance at the cryptocurrency.

[FLoving]

I don't think it would be a national cryptocurrency. The existence of this market is against the interstate economy. Bitcoin has no owner. I don't think states need to go on an adventure like this. A firm that has the means of production can establish a real dominance at the cryptocurrency.

In the modern age anything can happen and the crypto currencies are made of the type which can fit in our states financial system without any problem to our economy. Many countries are seeing this currency as better for their future and it is right that bitcoin do not have any known owner but what we have to do with the owner if bitcoin is a decentralized currency and is working without any effect in our system.

[diazepam666]

Does anyone here believe that Bitcoin will be replace the centralised mode of banking? I am damn sure Government and centralised business entities will not a low decentralized market to capture the finance field.
Plenty of news leagues from 2015 to now like they were adopting cryptocurrency mode of payment in their banking system but 95% of the people doesn't go with the major and top most cryptocurrency also so far.

[TastyChillySauce00]

I don't think it would be a national cryptocurrency. The existence of this market is against the interstate economy. Bitcoin has no owner. I don't think states need to go on an adventure like this. A firm that has the means of production can establish a real dominance at the cryptocurrency.

No one talking about bitcoin here and China will be releasing their own version of crypto which of course centralized and totally in their control,

thatk you for the share. i am honestly very interested in how the adaptain is going to be. i mean we know that there are so many people that prefer traditional system. Even some of us do. how fast they will adapt to this alternative financial ecosystem. we will all see.

Basically will be the same thing like those digital payment system that are already widely used in China, the fact that they are already close to becoming totally cashless society will probably speed up the adoption.

[Sanugarid]

I find this just another in a series of announcements about some new currency from China, and I think everything else is just speculation until it becomes reality. China will launch digital yuan, it will be on a private blockchain and it will be under full control of People’s Bank of China. At the moment, I believe that this is an internal matter of China and that it cannot affect the global financial system. It is very likely that all economic forces will launch their digital currencies at some point, this is inevitably the direction the world is moving, a complete transition to the digital age.

As for Libra, haven't the US and EU strongly opposed the project? I am not sure if anything has changed in the US, but the EU still firmly stands by its position that it will not allow Libra in this form as presented.

We all know that when the time that cryptocurrencies and digatal transaction came up, some banking system blows up but not totally blew. They develop this kind of transaction and also currency to help our economy get more bigger than the old system when we have a banking. When China adopted this kind of system, the blockchain technology, they come up with the new currency and that is digital yuan.With this, also some other countries will launch there own digital currency and we hope this will have a good possibility for them.

[cutesgirl]

I keep trusted with banking system work because more safety saving my money in the bank and easy when  use my money for transaction in my country, when many bitcoin member want to break out whit bank I think we still need bank for investing in bitcoin, without have bank how come we can sent money for investing on our bitcoin account, although we want to convert bitcoin with other currency we must sent money first.

[Dart18]

One truth that I see in here.
China is really trying to piss off United States of America.

They are doing everything which is the opposite of what USA will do.
The fight of the strongest country. The war is in the internet now and not in arms anymore.
Maybe this is better than seeing another country perishing from radiation. 

[Jet Cash]

Has anybody mentioned that the current fiat system is a centralised virtual digital system already? Renaming it, and calling it a blockchain based currency won't really make any difference. What will make a difference would be the return of currency generation to the state, but I can't see the banking elite allowing that.

[Triffin]

I think indeed the bank will be retained by the government, considering that the bank is currently a buffer for a country's economy. therefore even if the system used is no longer relevant, of course the government will still look for ways to maintain it, and maybe only the blockchain will be used

Yes, I also think like that, the Bank will only take Blockchain technology to be adopted into their banking system.
So I think the Bank will continue to exist even though Bitcoin has already been legalized by many countries.

Even though bitcoin is legalized in some countries, it is still not enough to think that the banking will get removed from the financial system. Banks are now doing well with their experimentation and trials to implement blockchain technology. They will surely continue to exist and they will become better than before because of their action to adapt the newest technologies.

Indeed, bitcoin's legalization is a good stepping stone, but it will take time before banking becomes obsolete, the business has been ongoing ever since we knew how to take care of our possessions, and it's not gonna be that easily taken down. If anything, bitcoin will revolutionize banking itself. as some characteristics bitcoin has will definitely be beneficial in the banking industry.

now I have seen some banks are involving in bitcoin because they are adopting block chain in their system. I hope in few years banks will professionally adopt crypto system but it’s still only my predictions as now I have notice one thing that people prefer to invest their money in bitcoin more than they keep in banks because banks give them very less profit.

[Golftech]

One truth that I see in here.
China is really trying to piss off United States of America.

They are doing everything which is the opposite of what USA will do.
The fight of the strongest country. The war is in the internet now and not in arms anymore.
Maybe this is better than seeing another country perishing from radiation. 

China is looking for the best venue to opposed US in a non-verbal ways, with so many gaps between this two powerful nations they both wanted to
have the advantages. With blokchain, where US is not showing any support and wanted to keep what they've already have china seeing and edge
and wanted to explore deeper. This act exactly the opposite side from how the US government seen and wanted to stop or prohibits the usages.

[Wexlike]

Has anybody mentioned that the current fiat system is a centralised virtual digital system already? Renaming it, and calling it a blockchain based currency won't really make any difference. What will make a difference would be the return of currency generation to the state, but I can't see the banking elite allowing that.

The central banks are already highly political. Going 100% back to the state won't change much anymore. The seperation now is only to calm down the masses and the small fights between for example the FED and Trump are just a joke in the end.

[SquallLeonhart]

Banking system is moving to more and more digital because the newer generations can handle the improvements in technology, sure the old type of banking systems will continue to live for another 20-30 years at least because people who are in their 60's are having a bit of trouble but also adjusting even if slowly to the new technology whereas people who are on their 70's are not keeping up with it properly, so in 20-30 years only the people who are in their 50's right now who can adjust to technology very well will survive with some 60's along the way, everyone else who will be alive will be people who are under 50's right now.

So, banks are taking all of that into consideration and working towards crypto, digital, blockchain and many more newer technologies they know new generation won't have a trouble with.

[Murat]

We have to go for a long run regarding this issue, I think Whatever China has done in this platform the Conventional banking system will be playing the ultimate role in the monetary system, I believe that cryptocurrency will also play a vital role in the monetary system but without banking system, most of the people will not able to transact their money, it's true that everything is getting changed so with the change of time, everything could get a new face. but a lot of reformation is required for this system for the improvement of the cryptocurrency system.

[GideonGono]

I keep trusted with banking system work because more safety saving my money in the bank and easy when  use my money for transaction in my country, when many bitcoin member want to break out whit bank I think we still need bank for investing in bitcoin, without have bank how come we can sent money for investing on our bitcoin account, although we want to convert bitcoin with other currency we must sent money first.

Yup and I also won't gone easily because there are a lot of person who doesn't believe and accept the bitcoin. In fact they believe on Bank and other investment than crypto so we can see that banking won't gone as easily as they think.

[lixer]

Nah, banking is not going to end, I know that for sure. Every countries are not going to be using the same cryptocurrency, it is all going to be different. China is already creating their own cryptocurrency and we all know that it’s going to be a centralized cryptocurrency and banks will be among the top organizations that will control it.

If other countries start creating their own cryptocurrency it’s going to be the same thing, so I don’t see banks taking their hands of from our finance, they will always be in control. But there will still be decentralized digital currencies/assets like Bitcoin.

[LeGaulois]

but the primary motivations are payment safety and domestic efficiency in the majority.

"Those who would give up essential Liberty (anonymity), to purchase a little temporary Safety (efficiency) , deserve neither Liberty nor Safety."
Basically your entire post is central and private Zio-banks propaganda, and if I could I would demerit you out of existence for propagating such utter nonsense that is in fact quite dangerous, with all those fancy graphs and charts some poor sobs have a chance to fall for it. That's extremely disappointing to see a legendary member displaying such careless set of sentences. For me it's a dis-qualifier, sort of like treason, a stab in to satoshis back and so on.
So, so many things have to change for things to stay exactly the same...
New face my ass! Looks like a pentagram-ish mark of the beast.
 

Zionism is good

You are very funny. I have been looking for some of your old posts and you contradict yourself several times. Don't you have a debit card? Why using it so. If the banks want to remove our anonymity they could do it without using CDB, they started already and without it, ah the debate for the cashless society you know?

People like you always complain about saying the banks cost us too much, take to much time, etc, but when they're working on something to improve, people aren't happy. Like right now since we have instant SEPA, they already started to complain lol. I would suggest you read some posts from Hal Finney, explaining why Bitcoin can't become the currency for the masses and why banks need to adopt a digital currency model...

I believe you watched too much propaganda and Alex Jones video on youtube. I see you have no idea what is Zionism, perhaps you just heard about the yellow book. I won't go down to your level but with people like you I'm glad government sponsor abortion program

[poptok1]

Zionism is good
-snipping obvious trolling-

It might be good for some but it doesn't change the fact that it's immoral. One group usurping themself a total power over another people, justifying it with allegorical scripture and it's elaboration that is Babylonian Talmud, compiled about 600 years after Christ. Supremacy based on religion is nothing different from same, based on pseudo-science that is eugenics or neo-Darwinism, superiority. Usurpation of power can not be justified logically nor on moral basis, that's why this idea will fall miserably, dragging along another millions of innocents. Supporting such macabre set of racist and discriminatory ideals, makes you an accomplice to possible genocide, that talmud is clearly preaching.

I don't own and I'm not planing to own any bank account, any card and any official zio-bank app.
I don't care about modern, unlimited and highly controlled fiats schemes, cashless society nonsense and those so called improvements, that only serve as a another tool of global enslavement and control.     
   
If you have found something that could point out on how and where, I'm contradicting my self, please quote it and prove my inconsistency. Note, only a rock doesn't change it's views. FYI Jones is an Israeli shill... possibly so are you.
Ad-hominem attack only proved how little to add to this discussion you have, and how weak your arguments are.

 

[Wipeout2097]

Already trade war is going on between china and usa and it already affect many companies globally. Block chain now need of every country to make proper progress in the stable economy of the country.
If china get success to launch official coin it will bring boom in crypto world,We all know the population of china dominant globally and the users f it coin will be in large number.May be it affect the BTC but till BTC users will be double and the halving also completed.

This is i say days are coming and the traditional banking system must think for next step to survive in the market otherwise  will payoff more than they think.

[Ayiranorea]

Already trade war is going on between china and usa and it already affect many companies globally. Block chain now need of every country to make proper progress in the stable economy of the country.
If china get success to launch official coin it will bring boom in crypto world,We all know the population of china dominant globally and the users f it coin will be in large number.May be it affect the BTC but till BTC users will be double and the halving also completed.

This is i say days are coming and the traditional banking system must think for next step to survive in the market otherwise  will payoff more than they think.

Banking won't go away from usage, people getting used to the technology and the same has driven mass of people towards cryptocurrencies. This has made the banking industry to give importance to the technology dependent development. As a part more banks are into transition, but the same isn't gonna end the usage of banks by common people.