Are Cryptobanks Future? - page 13. | Bitcointalksearch.org

bitmedia

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

Before cryptobanks become future, cryptomarket should:
1. Be regulated by governments and international organizations;
2. Choose which cryptocurrency will be used as a way of payment;
3. Update the technology and provide safety of system.
So, if these problem will be fixed, maybe cryptobanks will become our future Roll Eyes

jrrsparkles

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Quote from: sidkz on January 25, 2019, 06:40:53 AM

I think the government will not approve such without bank payments.
For me, as a user, of course, it would be better, and I hope that this will happen. In general, I am waiting for the cryptocurrency to be implemented everywhere, although not in all countries.

Governments were working for the banks literally so if there is any service implemented by the banks the governments will approve it but we don't need any banks for the crypto storage,we are our own banks. :)So even if they approve as well don't use and pay for that useless service.

REYVAN

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Quote

cryptocurrency is the future for the financial system. Do you agree?

I agree with you. but this is still far away, and the government will not let go of allowing this to happen beyond the control of the government. they will try to take over and make it happen. there will be many regulations that they think are the best, but they cannot be the best for all.

sidkz

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I think the government will not approve such without bank payments.
For me, as a user, of course, it would be better, and I hope that this will happen. In general, I am waiting for the cryptocurrency to be implemented everywhere, although not in all countries.

Alkhalifi69

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

do you mean like this https://www.baanxapp.com ?

PedroCrypto

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Due to the instability of the cryptocurrency tbh I don't think it is promising, at least for now it is still a kind of investing, and it cannot challenge fiat. And I agree with some of the posts here, the governments in the world are mostly still very centralized esp on the economy side, it will not allow the cryptocurrencies raised most of the money from citizens. See China, even fiat is limitted to be exchanged and flow out to abroad.

PS: I am not a local English speaker, so any grammatical problem please ignore...

sheenshane

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For me, a cryptocurrency banking system will take time to be established. Well yes, the financial system's innovation will be the cryptocurrency market in the future but the thing is, I don't see any point of having a cryptocurrency bank beside from bitcoin being centralized and controlled. We have our wallets already and that is enough for our banking though I think having a crypto-bank will give us more benefits such as time deposits, secured investments and so on since it's a "bank". Let's see how fin-tech will adopt this technology and make it mature enough to be trusted.

MidKnight

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Yes, I highly believe it will happen. I remember watching a show where the head of the banks interviews a guy that suggests digital transaction. The bosses did not like that idea and they feel it's like a threat to banks but now look at where we are now. Time knows only when.

adclassified

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i don't think that bitcoin will be in a financial system because the future of bitcoins seems not good enough. every banking system is depends on physical assets thus bitcoins is based on software system not physical assets.

arpon11

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

I hundred percent agree that bitcoin and cryptocurrencies is going to be the future of our financial system and the earliest the third world countries understand the future and what blockchain technology hold for us the earliest they will liberate themselves from the hold of developed countries. Cryptocurrencies is the future of our financial system and maybe in 10 to 20 years to come the convention financial system we have may not going to be in existence again. Everything financial transactions are going to be done through blockchain network and process.

buwaytress

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Not sure anymore if banks are the future, they're certainly very much the present as it stands. We've got on one side the traditional fiat banks now branching out into crypto services. You can see in West Europe some smaller banks have almost completely shifted over to blockchain banking. We see also several new projects last year especially, wanting to be the first crypto banks.

Then you have all the financial services companies who're not banks but might as well be: crypto custodial services, exchanges, remittance. None of which allow you to control your funds the way Bitcoin was meant to be. It's what people want today, it's where the demand is. Mayhaps one day people reject these for self-determination. Mayhaps not.

fibrolit

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2 systems will exist in parallel, these are the usual Bank money transfers using Bank cards and new systems based on smart contracts. However,I think that the state will support only its official cryptocurrency,such as Petro in Venezuela.

bitcoin31

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If your country really do that. Because what if the your country and governments don't wants cryptobanks?
But cryptobanks maybe will good for the movement of the bitcoin and altcoins because it can help to advertise people because they will be curious of what is cryptobanks and possible for then to invest them also like us.

ellehcar

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

Without a doubt, decentralized, global cryptobank is the future! We have witnessed how the mode of payment changed from fiat to digital (mobile banking, Gcash payment, etc.). And now, we already have cryptobanks in some countries like Singapore, India and Switzerland. It's just that the idea of blockchain-based digital banking is still not that known to many, but I believe that when these ignorant rats get to realize its benefits such as fast, transparent, hassle-free access to their very own assets, they would adopt it, and this is irresistible and inevitable.

gabbie2010

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Cryptocurrencies as a store of value overrides any possibility of crypto bank.
Wallets is just like a mini bank where hodlers has an easy accessibility and ability to change any crypto to fiat if there is need for it thus establishment of crypto banks will not thrive in the ecosystem.

imstillthebest

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Quote from: Teamfearless on January 18, 2019, 04:02:17 AM

Crypto Bank Already exist in the world , With crypto you are at you own bank , there is allot of crypto companies giving loans in crypto , there are so many crypto ATM machine across the globe .. Very soon all the financial sector i will adopt it and in the near future crypto will take the lead in the financial sector !!!

Cryptos arent banks because they are currencies but they can also store a value , thats why people will mistaken it as a bank and they think its better because they can earn huge returns but the risk are also big .

The cryptobank that op is talking about is not the actual crypto but it is a blockchain powered payment system with the idea that is the same as banks . i dont think that they are more better than cryptos .

Crypto will only be the one that can be called the future . the future of money . nothing more , nothing less . others out there are just a copy paste .

yulchatar

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Last year I read an article that a resident of Australia is going to open the first cryptobank in his country. And also I studied several ICO projects that offered mobile crypto banking. From all this I want to say that I still hold the majority opinion that we ourselves must be our own bank in order to manage our funds ourselves.

Teamfearless

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Crypto Bank Already exist in the world , With crypto you are at you own bank , there is allot of crypto companies giving loans in crypto , there are so many crypto ATM machine across the globe .. Very soon all the financial sector i will adopt it and in the near future crypto will take the lead in the financial sector !!!

LeGaulois

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Quote from: rizki991 on January 16, 2019, 03:22:34 AM

cryptobank will be the future now that technology is growing very fast and technology needs are very requested by everyone we will see in the next few years how crytpobank is growing rapidly

bullshit
Your post doesn't make any sense
Where is the demand for crypto banks? Do you even know someone who doesn't know what is crypto but is looking for a crypto bank? If the crypto industry doesn't progress the demand won't increase. And currently, the industry is stagnating since months.
And with the regulations maybe the crypto bank field will never be born

rizki991

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cryptobank will be the future now that technology is growing very fast and technology needs are very requested by everyone we will see in the next few years how crytpobank is growing rapidly

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