Topic: Banking is Dead… Long live Blockchain Banking! - page 12. (Read 1479 times)
It's government and central bank regulations that's making banks become unfriendly. The fact is that both can coexist peacefully. I'm sure that will happen sometime soon.
Not yet. There were several threads in the forum talking about banks and remittance companies getting their hands into blockchain research. They ain't disappearing anytime soon.
Most reason people use banks are for loans and we still don't have a good way of providing that service (at least with bitcoins, where people still want to remain anonymous).
What I'm imagining is that traditional big banks would coexist with smaller lending agencies that are using blockchain for processing the loans. More options for getting loans, the better.
Most reason people use banks are for loans and we still don't have a good way of providing that service (at least with bitcoins, where people still want to remain anonymous).
What I'm imagining is that traditional big banks would coexist with smaller lending agencies that are using blockchain for processing the loans. More options for getting loans, the better.
Banking system and blockchain technology can work hand’n’hand or together to make the service fee less, interest higher for a better society.
At this point, they don’t have the monopolising power against the people and the sad part is we can’t monopolised the use of this technology either.
So the fact that bankers can use it to their advantage then it will not kill them, but they must need to change drastically to adapt.
At this point, they don’t have the monopolising power against the people and the sad part is we can’t monopolised the use of this technology either.
So the fact that bankers can use it to their advantage then it will not kill them, but they must need to change drastically to adapt.
Banking is not death yet and it will take a long time for us to see blockchain technology replacing the current banking system because of the type of leaders we have that did not want human to have control over they finance. However, in future things are going to reset themselve and blockchain technology will kick out bank and bankers
What a ridiculous title.Blockchain banking is still banking,so banking won`t be dead. 
The ugly truth is that blockchain banking (if all the banks really implement that tech) will destroy cryptocurrencies,so I`m not so enthusiastic about all the "every bank should adopt blockchain technologies" idea.And,by the way,energy consumption will go thru the roof.
The ugly truth is that blockchain banking (if all the banks really implement that tech) will destroy cryptocurrencies,so I`m not so enthusiastic about all the "every bank should adopt blockchain technologies" idea.And,by the way,energy consumption will go thru the roof.
Banking will never die in my opinion.For sure they will make another way to improve their transactions and services while blockchain banking is very convenient because of its new technology that makes it more faster and more reliable to used but the problem is even how popular and how convenient a blockchain is if its not fully accepted and embraced by the majority it couldnt still beat the traditional banking system.
there is nothing wrong if in the future, blockchain technology is applied in the banking system. with transparent transactions safe and anonymous, I think it's quite effective to reduce the money laundering case because all transactions are recorded in a blockchain ledger and can be tracked.
Well, that is the hope. That blockchains will be proliferent in the market. Then again, banks will definitely see this as a threat. Not unless they will open up a blockchain of their own, i mean with the resources they have they could afford to create one for themselves. I just hope countries will accept this kind of economics as forward thinking move.
Nowadays the banks rule the entire world, and say that they are dying seems a bit hasty. They are already adapted to this new reality, and i hope they can stay away from at least some part of the cryptocurrencies.
Banks have no more choice but to adopt or else they will be dead for good. Banking system is too old for this generation so better for them to start adopting the system, in time almost all banks will use this technology and we will experience a better banking transactions or in worse case scenario we don’t need banks anymore.
Banks adopting the blockchain technology will offer you more convenience overall, maybe even cheaper products, but you'll lose your financial freedom in a way that we don't even dare to imagine. Governments could even replace the banking system by having its central bank function as the center of everything. They will gain more control over every aspect of the economy, and they can at any time decide to tax or haircut your balance effortlessly. I have always believed that it's not crypto potentially replacing banks, but the government itself, and there is nothing that will stop them from doing so. I'm not going to wait for that to happen....
Today, a person can send money to anyone in the world immediately without having to go through the hassle of what I experienced. It has happened in many parts of the world. You can transfer money via WeChat, Whatsapp, and even Facebook Messenger right now.
Good point and one that is seldom mentioned.
Not many people seem aware of the fact that socialist governments like cuba charge upwards of 50% tax fees on wire transfers which move money into their country. Looking at the regional price of bitcoin--there is often a correlation between nations like africa who are willing to pay higher prices for bitcoin, and high taxes or fees imposed by central banks or states. We've seen many spam comments on this forum where people complain if they have to pay $5 transfer fees with bitcoin. I can't imagine how those people might react if they had to pay a 50% tax.
The advantages bitcoin and other 3rd party payment applications have in moving money across borders "sometimes" without incurring the heavy surcharges and taxes imposed on wire transfers is one of bitcoin and crypto currencies most under emphasized advantages. It might be fair to say the system is broken in ways with crypto currencies allowing people a means of avoiding worst case scenarios.
Blockchain is new revolution for many fields and this is going to bring many new changes in next few years which could be very helpful and give easy to work for common peoples hopefully we will feel more comfortable with this change as its bringing new breakthrough technology
Blockchain is the future. Some countries are already using/studying Blockchain for their banking purposes. It is fast and much cheaper than traditional banking methods. So yeah, it beats banking methods with a great margin.
"Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way,"
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