Do you really think crypto stand a chance agaisnt the financial system

[geyayy]

Our present financial system should not be thinking of cryptocurrency as a threat. Cryptocurrency can be a huge help to the system we now have, and that it will always co-exist in every way.

[CyberKuro]

Let's face the truth, it is only in theory that cryptocurrency is a threat to banks/financial system. In reality, the banking/financial system is so big that crypto's threat is not significant at all. Majority of cryptocurrency investors are not really interested in crypto replacing the traditional financial system, they are just interested in it creating enough hype for more people to get in so their investment can skyrocket.
Think of it, if crypto was really a huge threat, don't you think we would have enough regulation by now?? what is you opinion??

The financial system and cryptocurrency are tools for people to transact and move their funds, it's not against each other, both coexist to provide more alternatives for us.
There are several advantages and disadvantages for both systems, hence both should be used to collaborate in order to complement each other's deficiencies.
Although not all countries issue comprehensive regulations regarding the use of cryptocurrencies, several governments have issued rules regarding cryptocurrency transactions, although most govern transactions on exchanges, kyc, money laundering, and taxes.

[tvplus006]

I don't think that cryptocurrency is against the financial system because cryptocurrency serves as the best solution for the alternative financial system to save our assets from further collapse. Like what happened this year of 2020, the stock market and banking system have suffered from the coronavirus crisis, but the crypto market, especially bitcoin, still manages to have a stable value.

There is no need to stand against traditional financial system. Cryptocurrency is naturally the best alternative for classic payment methods, even the e-wallets. I believe that soon, even the banks will use it and offer clients opening crypto accounts.

I have read such information that banks already offer their services for storing cryptocurrencies. But at the same time, no Bank offers cryptocurrency lending services yet. It is this popular niche that has been filled by decentralized finance.