Will banks become obsolete in the crypto future?

[Mame89]

Banks will not become obsolete because many depends more on fiat money especially in the sub Sahara Africa where there many uneducated and people who know nothing about Bitcoin.they will only accept only one payment system which is fiat money

I also have similar thoughts. Banks will never become obsolete because many people still don't understand crypto, and banks are a product of every country, so the government will automatically protect them from extinction. Besides being a means of transaction fiat is also a symbol of a country. Therefore it would be very difficult to eliminate the national symbol.

So, it's certain that banks will never die because both have different roles in everyday life, especially when we see many banks starting to adapt to crypto technology. Although crypto is very much at odds with banks because it eliminates intermediaries, and banks have broader functions in every sector and are a symbol of a country, the two are interconnected and cannot be replaced. Furthermore banks are also currently adopting blockchain technology known as CBCD.

[Japinat]

Banks will evolve and will continue to gain people's trust in the future. That's because majority still prefer to use fiat in their different transactions, and until fiat is at high demand, banks will continue to exist. However, bitcoin may have increased its popularity and is working already becoming a global currency in the future, but fiat will remain our official currency, bitcoin will only be considered as an alternative currency, that is if things will work for bitcoin with regards to global adoption.

Banks will never be obsolete, but it will continue to lead the market when it comes to biggest financial institutions, not only today, but forever.

[allthebitandbobs]

They will not, just because we are using crypto doesn't mean banking will not be needed. In fact, in theory the exchanges we are using are working like banks and that is very obvious at the moment and that is why we should be considering banking as real. Think about it, you give your money to exchanges, and they hold billions of dollars worth of it, just like banks do, only difference is that banks give you savings interest when you do, exchanges do not do it.

We need to realize banking is quite needed in the human society at the moment, we are talking about something that is very crucial for us to keep going. It is not just about moving money from one person to another, we are talking about credit system all together.

[Maslate]

You can tell when banks will turn obsolete, because by that time the government's economy as well will experience shutting down. But of course, the government leaders will not allow it because they are there to create progress for the government, not to bring it to its final downturn.

Banks will stay for good, simply because the government will do everything to make it thrive. Just like how the government did everything just to protect fiat from bitcoin, because they have seen that bitcoin could be a threat in the future, when in reality bitcoin is only here to offer opportunity for the people to gain financial freedom, free from using fiat, although we all know that's still quite impossible.

[wmaurik]

Banks will not become obsolete because many depends more on fiat money especially in the sub Sahara Africa where there many uneducated and people who know nothing about Bitcoin.they will only accept only one payment system which is fiat money

This means that banks will only survive in such places when people in urban areas and developed countries no longer rely entirely on banks to receive and send money wherever they want. I also don't think banks will become obsolete, at least in the near future, because rural areas far from cities still need banking services, both for receiving and sending money. So, banks may still survive in such places for a few years to come, but when other payment services become more convenient for rural residents, banks will naturally be pushed aside.

[Hypnosis00]

Unless if fiat is no longer making a good demand, banks will collapse and will probably vanish from its position. However, this remains a fantasy for now because all people are still using fiat to buy their basic goods and services, to sustain living their life. And until when will be fiat lose its relevance, for now I don't see its going to happen today, tomorrow and in the future. As long as the government mandates that fiat will remain our official currency, cryptocurrency will never gain its chance in the market.

[Kelvinid]

They will not, just because we are using crypto doesn't mean banking will not be needed. In fact, in theory the exchanges we are using are working like banks and that is very obvious at the moment and that is why we should be considering banking as real. Think about it, you give your money to exchanges, and they hold billions of dollars worth of it, just like banks do, only difference is that banks give you savings interest when you do, exchanges do not do it.

We need to realize banking is quite needed in the human society at the moment, we are talking about something that is very crucial for us to keep going. It is not just about moving money from one person to another, we are talking about credit system all together.

The rise of crypto will never affect fiat and banks. Crypto has its own goal, while fiat has certainly its own too.

Banks are giving us the utmost benefit when it comes to fiat transactions, either through paying or saving. And with that, banks will stay relevant because they are part of our daily routine that keep us going. Let's just accept the reality that banks are essential, while using crypto can be optional, depends on the preference of every individual.

[Shadiq]

We need stable currencies for transactions, the first choice in the list of stable currencies is fiat which is managed by the country's central bank. Even the central bank is the main weapon of the government to keep the people of the country dependent on the government. In democratic countries, the people will always support the government, because the people of the country are choosing the government and supporting the government. So it is natural that there will still be a demand for the public banking system.

The financial system is changing and crypto is getting richer day by day, but crypto is still not being used directly for purchases or is very rare. Crypto is still better known as an investment asset or trading asset, it will still take a few decades for crypto to be replaced with fiat. That is, the banking system is not becoming irrelevant very soon, because people are still unable to adapt to unstable currencies.

[iBaba]

Banks will evolve and will continue to gain people's trust in the future. That's because majority still prefer to use fiat in their different transactions, and until fiat is at high demand, banks will continue to exist. However, bitcoin may have increased its popularity and is working already becoming a global currency in the future, but fiat will remain our official currency, bitcoin will only be considered as an alternative currency, that is if things will work for bitcoin with regards to global adoption.

Banks will never be obsolete, but it will continue to lead the market when it comes to biggest financial institutions, not only today, but forever.

I also have the belief that banks will keep evolving for life because they have come to stay and crypto in itself did not come with the intention of facing out other conventional banks, but to offer people a lasting alternative or if you like expand the financial sector into a multifaceted sector that operates not only with the fiat but even the cryptocurrencies that offer you with the cryptographic technology, more transparent, more effective, more reliable, more safe and offer more independence as against the fiat. The fiat is a system that is heavily controlled by the government and must pass through alot of institutional arrangements or bureaucracy unlike the crypto that offers you with independence and security.

[Viscore]

I don't see valid reasons why banks will turn obsolete in the future. Crypto is just in its early phase of existence, and it has never proven yet its long term success in the market, and bitcoin is still in its development and growth process. So if we analyze it well, banks are unstoppable because it has gained already countless progress and achievements in serving the people, while crypto has not stabilized its feature yet, and is still struggling to gain utility case from the real clients, the people.

[Smack That Ace]

I don't see valid reasons why banks will turn obsolete in the future. Crypto is just in its early phase of existence, and it has never proven yet its long term success in the market, and bitcoin is still in its development and growth process. So if we analyze it well, banks are unstoppable because it has gained already countless progress and achievements in serving the people, while crypto has not stabilized its feature yet, and is still struggling to gain utility case from the real clients, the people.

Even as cryptocurrencies and bitcoin grow and prove long term sustainability and widespread acceptance. The banking system will never become obsolete or threatened. Simply because the government would never let that happen, they would not be stupid enough to legalize bitcoin and let it threaten their dominance. Therefore, no matter how much bitcoin and cryptocurrencies develop and grow, they will forever be just an alternative.

The concept of decentralized finance will be around for a long time but it will never be dominant.

[tread93]

^
Yup - banks will continue because realistically "most" people wont feel compelled to
change to Bitcoin.

Banks provide private, business loans and finance, mortgages, process salary payments
etc.  so most people are comfortable with the way banks provide a seemingly customer
focussed, hassle free service. There are still a lot of people either dont fully understand
finance and inflation and are happy and trust banks and traditional financial services with
their money.

Just today this news appeared

Code:

European banks led by BNP, ING push ahead on euro stablecoin plan[/quote]

https://www.rte.ie/news/business/2025/1203/1547021-european-banks-push-ahead-on-euro-stablecoin-plan/

Banks will just join the crypto movement but on their terms!

I guiess we will see what happens but seemingly it is really catching on with Banks and more and more are offering custodial sevices and also cypro credit cards in some cases. I am interested to see those spring back up again tbh I can't want to see the future credit card offers for crypto they'll soon have all sorts of crazy benefits and incentives I imagine. They will find new ways to make money off of crypto loans now.

[laijsica]

I’ve been thinking about how the financial world is changing.
Traditional banks still dominate global payments, but crypto keeps growing every year.

Some people believe banks will eventually become irrelevant as decentralized finance expands.
Others argue banks will adapt and become even stronger by integrating blockchain.

What do you think?

✔ Will banks slowly lose their power?
✔ Or will they evolve and stay essential in the future?

Curious to hear different perspectives from the community

By practicing traditional and centralised financial systems governments of every country are forcing people to spread a dependency among them. Because through empowerment they can use that economy for their own benefit. The cryptocurrency industry is expanding further through the expansion of independent blockchain systems and is creating credibility among every community worldwide.

The expansion of decentralised finance will not have much impact on the expansion of traditional banking systems. I think there is no chance of these two systems merging because decentralised systems are activated by users through independent blockchain technology without any centralised intervention.

Every socio-economic system of a country is managed by the ruling community of that country and it also works like a centralised chain to establish the empowerment of that community in the countries. And this system will continue to operate in phases. Decentralised financial systems will continue to be established as parallel and independent financial systems. Each economic standard is remaining established on a separate basis.

[CryptoYar]

[...]

You are correct dear that is smart view on crypto technology and I agree crypto is mainly alternative and addition to system, not something that will destroy traditional banks. Banks will keep going because they offer necessary things like legal protection and loans, and because governments must control fiat money for things like taxes. However, crypto real goal is to offer lasting, independent system that is more transparent and secure because it uses cryptographic technology instead of relying on slow bureaucracy. Future will likely be mix where banks still handle fiat but use crypto technology to become better and more reliable, which ends up helping everyone.

[Oasisman]

What do you think?

✔ Will banks slowly lose their power?
✔ Or will they evolve and stay essential in the future?

Curious to hear different perspectives from the community

I can't think of any reasons why banks will slowly lose their power(?) because Bitcoin is rapidly growing.
Banks will always be there no matter what, because that's what the government wants, not a decentralised asset that they find it hard to have full control over.
Banks may adapt to it, in fact they already are, but that's just about it. Banks cannot just be eradicated as it plays a huge role in the finance system in the community.

[Solokan]

We don't know what will happen in the future, whether banks will continue to exist or not. But in my opinion, banks will continue to exist and will definitely remain the same as they are now, because certainly not everyone will invest in crypto, as there are still many people who don't want to get involved in the world of crypto for various reasons. Currently, most people invest in BTC simply to seek profits because if they put their money in a bank, it will definitely be affected by inflation. But if the money is used to buy BTC and stored for the long term, it has the potential to not be affected by inflation. And in the end, after getting a big profit, they will definitely sell it and exchange it for fiat money. So, in essence, banks in the future will definitely be the same as they are now. If, for example, banks were to collapse in the future, those opposed to Bitcoin would be left in a bind. Therefore, I believe the current situation is optimal because banks and Bitcoin coexist harmoniously. This ensures safety for both those involved in the crypto world and those who are not.

[Marvell1]

We don't know what will happen in the future, whether banks will continue to exist or not. But in my opinion, banks will continue to exist and will definitely remain the same as they are now, because certainly not everyone will invest in crypto, as there are still many people who don't want to get involved in the world of crypto for various reasons. Currently, most people invest in BTC simply to seek profits because if they put their money in a bank, it will definitely be affected by inflation. But if the money is used to buy BTC and stored for the long term, it has the potential to not be affected by inflation. And in the end, after getting a big profit, they will definitely sell it and exchange it for fiat money. So, in essence, banks in the future will definitely be the same as they are now. If, for example, banks were to collapse in the future, those opposed to Bitcoin would be left in a bind. Therefore, I believe the current situation is optimal because banks and Bitcoin coexist harmoniously. This ensures safety for both those involved in the crypto world and those who are not.

The future is unpredictable, but if I had to question the survival of one of them, I would doubt the future of bitcoin and crypto more than banking. This bank has been around for hundreds of years and is the government's backyard, how could it collapse? Instead of thinking whether banks will collapse because of the development of bitcoin and cryptocurrencies, I would think the opposite.

Cryptocurrency is still a new market and as investors we should be concerned about our future and need to have a backup plan. Instead of worrying about what happens to people who don't invest in crypto if the banks collapse. 


Cryptocurrencies and bitcoin are still in the experimental stage, there is no guarantee that they can last long and become a mainstream part of the financial world. We are on the wrong track by worrying about the future of banking, not cryptocurrencies.

[CryptoBuds]

We need to realize banking is quite needed in the human society at the moment, we are talking about something that is very crucial for us to keep going. It is not just about moving money from one person to another, we are talking about credit system all together.

Those who think bitcoin could threaten banks and make them obsolete...bla...bla...Most of them have a narrow mindset that banks are just financial instruments used to transfer money from one person to another or for savings. They think that since they only use banks for saving and making payments, others also use banks only for that purpose, and banks do not provide any other services. But they do not know that banks are the largest financial institutions, and are at the heart of the entire credit and financial system of the national and global economy.

The harsh truth is that our world would be fine without bitcoin but it would be a serious problem if banks disappeared without a similar institution to replace them.

[Wildwest]

We need to realize banking is quite needed in the human society at the moment, we are talking about something that is very crucial for us to keep going. It is not just about moving money from one person to another, we are talking about credit system all together.

Those who think bitcoin could threaten banks and make them obsolete...bla...bla...Most of them have a narrow mindset that banks are just financial instruments used to transfer money from one person to another or for savings. They think that since they only use banks for saving and making payments, others also use banks only for that purpose, and banks do not provide any other services. But they do not know that banks are the largest financial institutions, and are at the heart of the entire credit and financial system of the national and global economy.

The harsh truth is that our world would be fine without bitcoin but it would be a serious problem if banks disappeared without a similar institution to replace them.

With the increasingly rapid development of the crypto world, some people consider this to be the biggest threat to banking banks, but that is a wrong idea, because the crypto world also needs banking banks that we often use nowadays, especially since banking banks have many uses, not only for transactions but also for many other programs that they carry out to meet the needs of the community, for example, loan problems and so on, so the crypto world will not kill banking banks, but they will complement each other for the future.

[Achalugo BTC]

The government needs the bank so unless the government falls Banks would remain. And crypto isn't challenging Bank especially with the birthing of scam coins by the day. Their major challenge is Bitcoin because it makes you a Bank and a banker bypassing the need for a traditional bank. Banks would loss some share of the market but they would have to adapt which can be seen now.

Of course that is right, I don't think the government will even want to negotiate anything for them to give in crypto because, they don't want anything that will stand as an obstruction to them or deny them of having their own percentage or depriving them of being in control, and that's why they are not in support of people to use Bitcoin, as it is build on a decentralized blockchain. Which has become their major challenge and since they are unable to handle it, they don't want to do anything with it. But, with the looks of things they might reconsider their decision, especially as people are easily adapting or accepting Bitcoin.