Topic: Can blockchain replace bank? - page 17. (Read 4177 times)
What I can think of is that in the future, albeit not in our futures, bank will be able to evolve into something that can be a fusion of blockchain technology and banking processes. New currencies and old currencies will be able to be traded on banks and there will be actual exchanges and not just on the internet.
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?
I think that there is a possibility, though not so great. Now we are simply not at the technological level to deal with this and fully implement the blockchain. But there is a possibility that in the near future we will be able to enjoy it
I'll replace your question and I guess its better if you'll ask this "Will the banks use blockchain technology?"
I doubt it that the banks will be gone in the future though we got crypto, we can fully ignore the banking system and stick to crypto's as no need for an application to open a bank account, no requirements needed and no more waiting days of creating our own bank accounts. Our wallets are already our bank accounts.
There's also a tendency that the bank will join this crypto revolution as they have no choice to compete against it.
I doubt it that the banks will be gone in the future though we got crypto, we can fully ignore the banking system and stick to crypto's as no need for an application to open a bank account, no requirements needed and no more waiting days of creating our own bank accounts. Our wallets are already our bank accounts.
There's also a tendency that the bank will join this crypto revolution as they have no choice to compete against it.
What a clever idea! the blockchain should be adopted and utilize by the banks. Cryptocurrencies should not be treated as a threat to the bank thus, an opportunity to create more faster, reliable and robust transaction out of the internet.
But, it can't really happen since the core of blockchain is to develop a peer to peer transaction between two parties.
To be honest, nobody knows the answer. I think blockchain is really great and it’s very promising. On the other hand i don’t believe that it’s gonna replace the bank in near future.
Blockchain is a technology system, while the bank is a financial company, so it is impossible for a company to be replaced by a system, but if the bank uses the Blockchain system it might happen, because the system of Blockchain is very good and this is a future technology that many companies will use especially companies in the financial sector (such as banks), so in my opinion if Blockchain replace Bank it will never happen but if Bank uses Blockchain it will likely happen.
Yes if crypto community become stonger, and of course will replace bank, But i think bank and their other partner will not let that happen because bank want always control the money, want to always enslave the weak, so its very difficult for that to happen. And if bank think cant prevent it, bank also will use blockchain, maybe created crypto, which bank can control it
Can. The blockchain can replace a banking system of any country of the world today. The government does not want to do it now.
If mass adoption begins, it is undoubtedly possible, but if I see it probable? that's another matter, the first thing we need to do is to stabilize the price of the currency, which is enormously difficult without regulations, but as most people do not want regulations in their cryptos (and rightly so) I think we still can not even dream of a replacement, at best a coupling that benefits us all in the best of cases.
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?
I have no doubt that this can happen. We have repeatedly witnessed multi-million dollar transactions with a commission of a few cents. Isn't that great? But not the fact that banks just give up. I am sure that the resistance will be very strong.
I am sure that this will happen - crypto will replace banks. This will happen in the near future, when the world will increase the level of knowledge and education in the field of cryptography. How many years is required for this? Show the coming years.
I think not, if operations between people can be performed on the blockchain, then large organizations are not ready for this yet
Someday, this time will come. Blockchain is very secure and banks can use this technology, however, they have to adapt bc to it first
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?
Blockchain can replace banks, moreover, Bitcoin was created for this. I think that over time the world will come to this and the entire banking system will be replaced by blockchain.
For today, all that we can expect is the integration of the blockchain technology into the banking system, so far there is no question of a replacement.
According to experts, the Blockchain itself can significantly change the entire banking system, but this does not mean that this technology can replace the traditional banking system. After all, the Blockchain has many such moments that are inherent only to the Bank, such as loans and credits. On top of everything else, cryptocurrencies still have a long way to settle their growth and scalability processes. So the next 5 years, I think they will not replace the usual banking system, and then we will see.
Blockchain can be used in banking. For example, for transmission and storage of information. However, he will not be able to completely replace the banks.
I think one day it could be possible, but we need much more projects with working product, that are ready to use. Without any working products we won't reach the mass adoption and as a result we will never see Bitcoin above 50k USD.
IF there will be a better situation on this.
Blockchain will be used by the bank in their security and system.
This collides will make the world better and safer.
That is what most people want.
Blockchain will be used by the bank in their security and system.
This collides will make the world better and safer.
That is what most people want.
Blockchain afford to replace the Bank, but whether it is now people. Bounty earn commissions from customers. When instead they come one or the other technology on the blockchain banks will earn less, and it is not beneficial for leaders.
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?
I think if the blockchain technology is adopted fully and sustained blockchain has the capability to replace banks, however many of the countries are not ready to accept cryptocurrency in their economy, they are afraid of losing financial control of their economy.
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?
I think if blockchain replaces bank the features will be diminished but it's good for us because we can earn money with it due to its highly in price and most fastest transactions .I hope it will remain regulated in higher price to earn much more. Jump to: