Are Cryptobanks Future? - page 2. | Bitcointalksearch.org

Wintersoldier

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Quote from: BartS on November 01, 2019, 08:44:08 PM

People like us are never going to need something like a bitcoin bank but I'm not so sure about the rest of the population, I say this because we can secure our coins without too much of a problem.

But very few have the necessary knowledge to do it well, and they will probably ask themselves about the best way to protect their coins and in that case a bitcoin bank makes sense, I do not really like the idea and we should teach them how to protect their coins but I have a feeling that they will be lazy and they will take the easy way out.

In crypto, the security of our assets will be on our hands, disregarding banks as they are much more suitable to handle fiats. In terms of crypto, a digital assets, what we need is being responsible to manage our transactions and to keep our wallet information safe. Trusting it to banks will just make us return to the traditional banking system even if the assets that we are utilizing is crypto. But if we will go ahead and make ourselves our own bank to secure our fund, this will be the essence of a cryptobank.

BartS

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Quote from: Brunus on October 27, 2019, 04:37:51 PM

There is always someone who periodically proposes some "bitcoin bank" without realizing that it is a contradiction in terms: at a certain point, one's Bitcoin account is in fact a bank, so it is not clear why the banks should to intervene.

People like us are never going to need something like a bitcoin bank but I'm not so sure about the rest of the population, I say this because we can secure our coins without too much of a problem.

But very few have the necessary knowledge to do it well, and they will probably ask themselves about the best way to protect their coins and in that case a bitcoin bank makes sense, I do not really like the idea and we should teach them how to protect their coins but I have a feeling that they will be lazy and they will take the easy way out.

atjiat

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Quote from: Faxmate on October 31, 2019, 01:10:49 PM

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Quote from: cotton ball on October 29, 2019, 11:06:51 PM

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?

China will make cryptobank at the future because they have agree for adopting bitcoin as legal transaction, after president of China want to adpt blockhain technology for their transaction I think just waiting few month later China will have bank support with bitcoin and altcoin, I hope many country will allow how china regulation to adopt and legal bitcoin as transaction payment.

I don't think that China will launch their own cryptocurrency bank because I think they will create their own cryptocurrency rather than just a bank. China will launch their own cryptocurrency so they can monitor the transactions of their citizen and of course, it would be centralized so they can control all over their cryptocurrency blockchain.

But it would be much better for China to create simple banks that deal in all sorts of crypto currencies rather than developing their own coin. Bitcoin is already at high price and is the most profitable coin. China shall make her people use bitcoin and put taxes on profits instead of regulating their on coin. They can have exchanges which will keep all transactions history. People need decentralized crypto.

So far, history has shown that the opinions of the government and the people are radically different. Based on this, ordinary users of cryptocurrencies do not want any banks and control over their funds, but at the same time, the government is happy to legalize cryptocurrencies if it passes through certain financial structures and, first of all, these structures can be Crypto banks.

Faxmate

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Quote from: cotton ball on October 29, 2019, 11:06:51 PM

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?

China will make cryptobank at the future because they have agree for adopting bitcoin as legal transaction, after president of China want to adpt blockhain technology for their transaction I think just waiting few month later China will have bank support with bitcoin and altcoin, I hope many country will allow how china regulation to adopt and legal bitcoin as transaction payment.

I don't think that China will launch their own cryptocurrency bank because I think they will create their own cryptocurrency rather than just a bank. China will launch their own cryptocurrency so they can monitor the transactions of their citizen and of course, it would be centralized so they can control all over their cryptocurrency blockchain.

But it would be much better for China to create simple banks that deal in all sorts of crypto currencies rather than developing their own coin. Bitcoin is already at high price and is the most profitable coin. China shall make her people use bitcoin and put taxes on profits instead of regulating their on coin. They can have exchanges which will keep all transactions history. People need decentralized crypto.

daarul50

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Quote from: Brunus on October 27, 2019, 04:37:51 PM

There is always someone who periodically proposes some "bitcoin bank" without realizing that it is a contradiction in terms: at a certain point, one's Bitcoin account is in fact a bank, so it is not clear why the banks should to intervene.

then we must educate them about these two different things that contradict each other.

centralized vs decentralized , will both ever united as one? of course not. the idea about cryptobanks is a little bit strange as it is about to mixing two clear different economy concept.
the one wanted to control over your financial and the other wanted to make things fair mathematically through blockchain technology and its products called cryptocurrency.
crypto let you manage your financial as you wish , banks won't let you do that.

it could be different story if banks adopted blockchain technology to proccess transaction there more efficiently for example.

cotton ball

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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?

China will make cryptobank at the future because they have agree for adopting bitcoin as legal transaction, after president of China want to adpt blockhain technology for their transaction I think just waiting few month later China will have bank support with bitcoin and altcoin, I hope many country will allow how china regulation to adopt and legal bitcoin as transaction payment.

White Christmas

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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?

It is a postive news that some countries are preparing for the future in which they are proposing some cryptobanks project to enhance the banking system of every banks in the world. I probably agree with the conclusions that the cryptocurrency is the future of the financial system in which the exchange of funds by the lenders, investors and borrowers to change into digital currency which is what we called crypto by using online currency to operate the financial system in the near future.

cutesgirl

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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?

Looking cryptobank at the future we need regulation from government to allow bitcoin and altcoin become legal, without legal using bitcoin or altcoin as transaction payment impossible we can see cryptbank at the future, depend with how bitcoin price at the future, keep higher or not to get access with crypto bank for the future. You can get cryptobank at the future by make community for bitcoin and altcoin.

karanggatak

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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?

hopefully that will soon come true and the article you read is indeed reliable news. because in my opinion, if bankcrypto already exists, maybe the government has legalized cryptocurrency. and make crypto more known to people. but if all that is just a plan from a bank, maybe the government will allow it, and maybe the government will propose certain rules that benefit it. I myself am of the opinion that with cryptobank, in my opinion there is no benefit for someone who understands crypyo, because everyone already has their own wallet which I think is safe. and we can carry out transactions anywhere safely.

FaMouS8828

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Quote from: Google+ on October 27, 2019, 01:13:39 AM

I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

Banks won't reduce their part of the financial market, even if banks will take blockchain as a general part of their technology it is likely that we will also be paying commissions to a bank as before. Banks won't become decentralized, it always was centralized and in the future will be centralized. But, maybe we will see something like an open-source project where won't be centralized control and additional commissions. I hope.

agentx44

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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?

We cannot conclude yet if having cryptocurrency as the financial market's future would be a good thing but considering the benefits the countries that legalized it gained could be a hint that it could be the saviour of the economic crisis we have today. There are rumors about having crypto banks but I think it would work better if fiat and crypto would just be existing at the same time and work together in harmony, we don't really need to make fiat disappear, we just need it to cooperate with crypto.

Webetcoins

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Quote from: tambok on October 27, 2019, 11:26:20 AM

Quote from: Yatsan on October 27, 2019, 03:59:07 AM

Quote from: Google+ on October 27, 2019, 01:13:39 AM

I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

That's right, but we still need to have paper money. Both of the currencies, whether crypto or fiat, are important in our economy. Cryptocurrency is needed for a fast and large volume of transactions. However, fiat is needed for micro transaction and for cash on hand. We cannot fully depend on crypto because it's still had a downside. For example, not every individual has a device or internet, and it's not convenient for paying crypto when buying goods, for example, a single candy. We need both of the currency, both of them will benefit one's country economy.

Yes for now we can't see ourselves not having paper money yet, we still need it and it will not vanish that easily, but we are talking about the future, yes, from time to time the technology is really innovating so in the future it will be possible that paper money will vanish and we will only have digital currency as our way of medium of exchange.

First of all, I do not think that bitcoin or any crypto currency was created to wipe out paper money or fiat from the face of earth. Bitcoin just wants to help people in making good amounts of profit in short time and provide them with easy and secure transactions. It is not its fault that paper money lacks such qualities. Sooner or later, digital currencies will sere the purpose that paper money is serving at the moment.

Kambal2000

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Quote from: Eugenar on October 27, 2019, 11:00:28 PM

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I think it might be possible because now I see various banks in the world have started to learn the technology from the blockchain and learn the benefits that can be obtained so that many banks are starting to develop digital currencies such as cryptocurrency.

Basically if the world will become digital and physical money isn't that much used by the people, banks and its employees will no longer play their role, in common sense, there's no physical and fiat money to be managed. In relation to that, they will enter the world of cryptocurrency. The only possible work that they might provide is a new and improved version of escrow service. Since storage and security of crypto is already established through safe wallet addresses.

No doubt that cryptobanks are future and we will have digital currency that is lurking around the world, but it takes a lot of years before that to happened, as what we need for now is for the government to embrace and to accept crypto first for us to have a mass adoption, then the rest to follow.

Eugenar

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I think it might be possible because now I see various banks in the world have started to learn the technology from the blockchain and learn the benefits that can be obtained so that many banks are starting to develop digital currencies such as cryptocurrency.

Basically if the world will become digital and physical money isn't that much used by the people, banks and its employees will no longer play their role, in common sense, there's no physical and fiat money to be managed. In relation to that, they will enter the world of cryptocurrency. The only possible work that they might provide is a new and improved version of escrow service. Since storage and security of crypto is already established through safe wallet addresses.

Brunus

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There is always someone who periodically proposes some "bitcoin bank" without realizing that it is a contradiction in terms: at a certain point, one's Bitcoin account is in fact a bank, so it is not clear why the banks should to intervene.

tambok

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Quote from: Yatsan on October 27, 2019, 03:59:07 AM

Quote from: Google+ on October 27, 2019, 01:13:39 AM

I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

That's right, but we still need to have paper money. Both of the currencies, whether crypto or fiat, are important in our economy. Cryptocurrency is needed for a fast and large volume of transactions. However, fiat is needed for micro transaction and for cash on hand. We cannot fully depend on crypto because it's still had a downside. For example, not every individual has a device or internet, and it's not convenient for paying crypto when buying goods, for example, a single candy. We need both of the currency, both of them will benefit one's country economy.

Yes for now we can't see ourselves not having paper money yet, we still need it and it will not vanish that easily, but we are talking about the future, yes, from time to time the technology is really innovating so in the future it will be possible that paper money will vanish and we will only have digital currency as our way of medium of exchange.

Yatsan

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Quote from: Google+ on October 27, 2019, 01:13:39 AM

I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

That's right, but we still need to have paper money. Both of the currencies, whether crypto or fiat, are important in our economy. Cryptocurrency is needed for a fast and large volume of transactions. However, fiat is needed for micro transaction and for cash on hand. We cannot fully depend on crypto because it's still had a downside. For example, not every individual has a device or internet, and it's not convenient for paying crypto when buying goods, for example, a single candy. We need both of the currency, both of them will benefit one's country economy.

Google+

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I think the future of the bank will have a blockchain technology that develops payments into cryptocurrency and will reduce the use of paper currencies because all payments will use digital currency methods which prove to be more efficient and can improve the economy of the country.

matchi2011

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Quote from: ?? on ??

I think it might be possible because now I see various banks in the world have started to learn the technology from the blockchain and learn the benefits that can be obtained so that many banks are starting to develop digital currencies such as cryptocurrency.

With integrations with current banking system there's possibilities that things are on its way be absorb by the financial institutions. The popularities
of cryptocurrencies in terms of helping the banking system to have much lesser transaction's delays. It will be observe and use by the banks if there's no conflict and there's no problem with the current business structure adoptions will take place.

BartS

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Quote from: sirminesalot on October 20, 2019, 01:40:06 AM

Quote from: MRrey on October 12, 2019, 05:56:35 AM

If bitcoin have regulation by government I think crypto bank at the future will come true, when bitcoin still illegal and not allowed by government crypto bank at the future is bullshit, just dreaming looking with bank have build by crypto at the future, we need government want to allow bitcoin and crypto first before we can build many big think with cryptocurrency.

whatever will happen for the development of cryptocurrency all depends on the government if indeed the government has legalized cryptocurrency, of course the development of cryptocurrency will be more rapid and of course will automatically form banks that use cryptocurrencies and it is needed by the times and technology and especially in the economy and the digital age will soon be realized

Government control or regulation will do nothing for the development of this market, one of the goals of some cryptocurrencies is to stay away from government regulation.

Besides even if governments tried to regulate this market they will fail since they have no way to control what it is introduced in the code and even if they tried to regulate that as well they have no way to make us accept that modified code, then it is a good idea to forget about the government as an agent which will help the development of this market.

Topic: Are Cryptobanks Future? - page 2. (Read 2162 times)