Say Goodbye to Banking as We Know It

[greatr]

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which embraces the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. And it can be said that we know it to say goodbye to banking.

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[hello_good_sir]

According to this, china sped up development of its national digital crypto currency after facebook announced its libra plans and could release it in 2020.

One of the things that made america great was it being a previous hotbed of innovations and futuristic progress.

Today lawmakers appear determined to ensure america does everything within its power to oppose and obstruct innovations like bitcoin/blockchain/crypto.

It certainly makes sense from a policy point of view to get into launching on your cryptotokens before any private sector businesses starts to do so in your country, which could undermine the ability for a central bank to conduct meaningful monetary policy.

However, I think that China's development of their own centralized coin has already been underway or at least in talks a long time ago, and this is just an extension of these activities.

You're also right about the fact that a lot of countries aren't very progressive in the field of financial innovation. Instead of regulating the cryptospace positively they seem preoccupied with limiting and restricting access, which makes no sense imo.

[romero121]

However things go advanced there won't be a scenario to bid good bye to the banking system. It is the universally accepted system that has helped in economic development of the country. Maybe the platform gets updated to the growing need, but the banking industry will remain the same. Right now understanding the need of the upcoming generation and to stand against the growing crypto market, banking industry have begun to adopt the blockchain technology. Likewise updation will take place continuously.

[EdvinZ]

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

[Polar91]

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

I think it goes the other way around, blockchain projects are much more prominent in china and there is currently no update concerning them to create their own cryptocurrency as a national currency as well. For us to have a better world and economy, we should regulate money by means of alloting funds for improvement, if bitcoin and crypto today will not allow that to happen, I can see big countries will look for options to do that to align their country to innovation.

[Janation]

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

I also think it would be China.

This country is now leading with a lot of people or users using their mobiles as their payment method. As this continues, it will be leading to development of their own digital currency and we don't know, maybe other countries will do the same.

[Bezobraznike]

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

   Countries can launch their own coin, they will have to make changes in their infrastructure, but it's possible. It will be a centralized coin
with government as a head manager of the coin, they will be able to manipulate with supply of that coin.
   People needs to learn what is decentralization, for me that is a better and more fair system. We need to say goodbye to the current banking
system as we need to say goodbye to many governments.
   Question is are we ready for open world? Are we ready to be normal and good without masters who control us?

[slashz9]

okay to note that China issued its own currency of course the government or banks have access to it, so it might still be the same but with a different version, I mean centralized digital money, so there is no different with now.

[Colt81]

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

[White Christmas]

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

[Silberman]

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which supports the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. So it can be said that we know it to say goodbye to banking. Because if the bank doesn't want to die, inevitably it has to follow technological developments.

But that doesn't really mean anything, banks have always adapted to the changes in the technology of the world, at the beginning banks accepted gold, then they accepted fiat, and then they allow the use of credit cards, so it is completely natural at some point in the future they are going to accept cryptocurrencies and in some cases they are going to create their own cryptocurrency as well, this doesn't mean that they are disappearing this just means that they are adapting.

[k@suy]

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which supports the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. So it can be said that we know it to say goodbye to banking. Because if the bank doesn't want to die, inevitably it has to follow technological developments.

But that doesn't really mean anything, banks have always adapted to the changes in the technology of the world, at the beginning banks accepted gold, then they accepted fiat, and then they allow the use of credit cards, so it is completely natural at some point in the future they are going to accept cryptocurrencies and in some cases they are going to create their own cryptocurrency as well, this doesn't mean that they are disappearing this just means that they are adapting.

Yes the banks have the tendency to allow the usage of bitcoins and any other altcoins if and only if the government of a certain country allows it. Because the approval and the decision is in the hands of the government employees and also on the members with higher ranks. They are the one whos in charge in deciding whether they will implement or allow the bitcoin as a means of payment or not.

[Spaffin]

At least for me, the banking system has never been something negative.  If it was a matter of debt for a loan or large interest on a loan, then these are the conditions of the bank, to which a person initially agrees and no one forces him to sign a contract.  But in this situation, in my opinion, the state and the government have more blame if the person is forced to sign harsh conditions.  But such ties with banks are beneficial for the state, because governments control their citizens with banking information.  Although by and large it does not bother me.  Since I constantly use banking services, I hope that with the help of blockchain the system will provide customers with a wider range of services.  Not all people will be able to personally deal with cryptocurrency issues, but everyone can own for example bitcoin.  In this case, people can carry out the storage and transfer of cryptocurrency funds using their banks.  But since banking is controlled and governed by certain laws, the implementation of the above requires the full legalization of cryptocurrencies.

[GideonGono]

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which supports the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. So it can be said that we know it to say goodbye to banking. Because if the bank doesn't want to die, inevitably it has to follow technological developments.

But that doesn't really mean anything, banks have always adapted to the changes in the technology of the world, at the beginning banks accepted gold, then they accepted fiat, and then they allow the use of credit cards, so it is completely natural at some point in the future they are going to accept cryptocurrencies and in some cases they are going to create their own cryptocurrency as well, this doesn't mean that they are disappearing this just means that they are adapting.

Yes the banks have the tendency to allow the usage of bitcoins and any other altcoins if and only if the government of a certain country allows it. Because the approval and the decision is in the hands of the government employees and also on the members with higher ranks. They are the one whos in charge in deciding whether they will implement or allow the bitcoin as a means of payment or not.

Yup, it is depend on the community or store on how they can accept the crypto but if you convert into fiat then that was good. The good for direct is you didn't need fee if you want to use your coin unlike converting it.

Bank would not being disagree on crypto because crypto must have own wallet like bank and must better to be used also for profit but have a high risk than bank.

[makolz26]

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

So far, we can't really say that banks will really disappear for now, we know how powerful they are that they wanted to control everything, our money, our economy, so for sure they will do something that will prevent crypto or will add crypto to their option, let's see, for sure you they are doing something right now that will surprise us.

[Blackdeath]

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

So far, we can't really say that banks will really disappear for now, we know how powerful they are that they wanted to control everything, our money, our economy, so for sure they will do something that will prevent crypto or will add crypto to their option, let's see, for sure you they are doing something right now that will surprise us.

More people are using physical money or cash than digital currency like bitcoin and other cryptocurrency when it comes purchasing goods and paying their bills at home, so a lot of people will be storing their funds in banks, that is why it is really impossible for banks to disappear for now because bitcoin is still not yet recognized by everyone in the world.

[Webetcoins]

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

Paper money will not completely disappear from our lives but Bitcoin will become an important part also. Due to every day revolution, long term benefits people are getting attracted toward it. People will use it as an easy option of payment in near future. But it will use side by side with paper money.

[Lanatsa]

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

Paper money will not completely disappear from our lives but Bitcoin will become an important part also. Due to every day revolution, long term benefits people are getting attracted toward it. People will use it as an easy option of payment in near future. But it will use side by side with paper money.

And come to think that Bitcoin does get its value from fiat and its impossible for it to replace it one day.We would never say goodbye to banking
yet as government do still exist these centralized things would exist no matter what.Nothing can replace into a system that had been used by many
since from the beginning of time.Bitcoin would only stay up as an alternative rather than the main ones because it impossible for that thing to happen
no matter how hard you do think of it.

[LUCKMCFLY]

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

Having their own crypto or digital currency is not easy to get but I have heard that China is planning for it. Talking about America is not good as crypto is about technology and America is one of the most developed countries so it will bring new revolutions in the crypto world. Bank system is itself involving blockchain in their system so I think both banks and crypto making each other stronger.

There is a particular case, it is in Venezuela, they launched their cryptocurrency, which looks a lot like a token, but it has largely failed, they have not implemented Blockchain but they use the traditional banking system, which has failed, since they are based on using the Biometric system with the fingerprint, so much that they were suspended until further notice.

Now the government wants to implement that each sale of a barrel of oil is made in the cryptocurrency, which forces them to move, the case of banks is paused, as FIAT money falls more and more with respect to the dollar.

At the beginning of the use of the cryptocurrency, the local currency suffered a much stronger collapse and, therefore, banks do not have the ability to issue cash bills to meet people's demand, in this case the banks cannot make Nothing, and when it comes to Bitcoin in particular economies, it moves much more and digitally using only FIAT money. The case of China has to control these problems, since the inflation that can be caused can be very high in a short time.

[FlightyPouch]

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

Having their own crypto or digital currency is not easy to get but I have heard that China is planning for it. Talking about America is not good as crypto is about technology and America is one of the most developed countries so it will bring new revolutions in the crypto world. Bank system is itself involving blockchain in their system so I think both banks and crypto making each other stronger.

The blockchain, yes but I don't think it does with crypto currencies. In some altcoins, maybe since there are a lot of altcoins out there that can be applied by a developed system and if seen very well it might applied to some popular cryptos especially bitcoin. China might lead the change, they're already going into that, I just hope it went well.