Topic: Can blockchain replace bank? - page 11. (Read 4177 times)
Even we came into situation where most accepted or using blockchain. There's no way blockchain can replace bank. Still, majority of us want to store and transact especially when the amount is big into bank. Bank will always be there forever no matter what invention we're going to have in the near future.
Unfortunately we are still dependent on banks. We use banks as an intermediary when converting coins into fiat.
I think it is still very difficult for banks to fully accept the blockchain, because there are still many risks in the blockchain, such as hackers!
I think we are talking about the impossible. This will not allow other states to happen. For this to happen, the capitalization of cryptocurrency needs 100-200 times more.
In present days blockchain is good but if we look at the market now banking industry is connected with everything governments, public, investors, and other banks are using banking industry so we can not say that blockchain can take the place of banks it is impossible to be real in my life and it can be operate with fiat money and banks.
The blockchain is just a human technological revolution. It can't shake the bank's position. Banks usually have a close relationship with the government. Blockchains work with the banking industry rather than being hostile.
No Blockchain will be used as alternative or bank will change there concept
There will be bank but with limited people
Like if 1 bank branch have 10 staff if bank adopt blockchain then bank need only 2 staff,
all otherwork will be handled automatically by system
There will be bank but with limited people
Like if 1 bank branch have 10 staff if bank adopt blockchain then bank need only 2 staff,
all otherwork will be handled automatically by system
Blockchain and banks do not conflict. All economies are built on the bank's financial system, and blockchain will turn human civilization into a smart city. Human development has always been so amazing.
Blockchain can solve the financing problem of small enterprises, let more companies stand up to express their ideals and opinions, and excellent companies will be supported by a large number of investors. There is no shortage of funds in the world, and what is lacking is the way to let funds escape the devaluation. This is the family mission of the capitalists.
Blockchain can not replace monetary system, as well as it can not substitute banks, even in countries where crypto is legalized and payments in crypto are accepted everywhere. Most probably in next 5 or 10 years banks will start adopting blockchain technologies.
I think the Blockchain cannot replace the banking system because the Blockchain system is not safe and has many risks. While in every country it certainly has a bank and has very good security. And everyone knows the Bank and not everyone knows about the Blockchain.
Blockchain is new technology and i am sure in near future all banks will implement it as it is fastest way to deliver any type of transactions, blockchain is technology and bank is organisation so you may ask will bank will apply or implement it.
I think it is possible for Blockchain to replace the Bank, but it will make a lot of reach people poor. So I don't think this will happen in the nearest future. Maybe after 20-30 years... nobody knows for sure.
Banks prints money, if blockchain will replace fiat then maybe there will be no fiat banks. That's not impossible but less likely to happen because of the government's interest to control their people.
I think it is possible for Blockchain to replace the Bank, but it will make a lot of reach people poor. So I don't think this will happen in the nearest future. Maybe after 20-30 years... nobody knows for sure.
Blockchain technology can work in banks, but it cannot replace these organizations. Today, cryptocurrency is not suitable for use as a means of payment. Guarantees of reliability and reduction of volatility are needed.
One day for sure, but we need more products that will actually work already. And I think that we will see a combine solution, rather than replacing the banks. I believe that banks will start to integrate the blockchain technology.
It is totally depend on the acceptance of bank. There are some selected bank which are using ripple block chain system but every Bank do not believe it. Because now it is not in trending and I'm future they can accept to it but this is not everyone will accept it.
The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?
It can replace the bank if the e-wallet becomes better and has excellent security. Although the transaction fees are quite high compared to banks, I think that blockchain is always more profitable. Because it has a default fee whether you send money anywhere in the world. This is a big advantage and banks need to look into this.
The Blockchain system is very good and if it is used to replace the Bank, I don't think it will work. In my opinion, the Bank is the safest place to save money because if there is a problem we can block it. And our money is still safe. And this Blockchain system in some countries is still not acceptable.
The current trend of blockchain is very high, couple with it's ability to execute millions transactions within seconds, few transactions cost and no third party is require or paper signing. All transactions recorded and kept open, taking alway cross border and languages barrier, excellent in e commences. So many features to change the world. My emphasis is can blockchain has the capacity to replace bank?
For banks this will allow to seriously simplify the processes, abandoning a large number of existing processes and elements of information infrastructure. So banks will be also using blockchain!
My answer is no, blockchain cannot replace bank because just a small percentage of the world population know what crypto is all about
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