Can blockchain replace bank? - page 18.

ryanfromrethink

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Quote from: Mkpez on September 11, 2018, 06:18:05 AM

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 believe that over time, the world community will be able to see the important advantages of the modern blockchain technology. It will allow to bring the financial system to a fundamentally new level without the annoying restrictions of banks and state control.

Teal Deer

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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.

dio1715

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Quote from: Mkpez on September 11, 2018, 06:18:05 AM

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.

MadEth

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The blockchain is a technology, which banks can adapt to improve operations and cut down cost!! so it can't replace it but compliments it

kidoseagle0312

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Quote from: Mkpez on September 11, 2018, 06:18:05 AM

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 you don't know what you are saying here in this topic anyway. Because as I can see to your statement is you don't know what blockchain is? and also you don't know what bank really is? It is something basic only dude, just like decentralize vs. centralize something like that in between Blockchain and banks. So, you better find out their differences first before comparing it to one another mate.

yapa ve yalniz

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I think it needs to change until now. But we still can't see a positive action. Warn me if I'm wrong. But it needs to be realistic.. banks are hard to beat =))))))))))

sinkfish

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Quote from: Mkpez on September 11, 2018, 06:18:05 AM

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?

perhaps you putting it in the wrong perspective. blockchain will not replacing bank. Bank is an institution. Blockchain is and system.

current banking system is not as good as blockchain can do and its already been proven.

a better way to put it is bank should use blockchain, while finding the balance point between centralise system and personal privacy.

chalbinov

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In my opinion, we can't compare between banks and blockchain because blockchain is a system and all payment systems to some extent need central parties, so it can't replace the banks. Maybe banks need to use blockchain technology for make faster transaction.

Rokot

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Blockchain is a revolutionary technology that can significantly change the world. I believe that banks will introduce this technology.

Fu Mei Mei

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I don't think so, but they can implement blockchain technology into the banking system by utilizing the reliability that blockchain has
I believe the banking system will be better, faster, lower cost and safe. In addition, by utilizing blockchain, banks can easily to submit and find customer data

rickyis786

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There is possibility we cant deny but it will take too much time to replace the banking system. becouse at the moment world economy depend on banking system and other side very few community know about crypto system so people need to aware new digital currency and off course no dought Blockchain system is preparing to replace the banking system in future.

bdc2343

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Currently, the blockchain is unlikely to change over the bank, but in the future I think it will be possible, as the blockchain is now universalizing all the professions that I know, that is a lot and in the salary can It will be strong and widespread, making it difficult for the bank.

bootlace

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Justice as a Service Infrastructure

I do not believe that this possible. At least not in near future. Blockchain is very raw at the moment

AdamRoss

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Without Bitcoin, blockchain is just a slow database. Each blockchain product can be completed on a spreadsheet. Bitcoin is the lifeblood of blockchain, it creates means of accumulating value, payment method, certificate of ownership encryption. Banks and governments use the idea of blockchain to take away the public's attention from Bitcoin, but then will come to an end.

MegaPost

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I really want to believe that in the future this will really happen. But I do not think that this can happen soon. Since banks are still in demand in society. It is likely that banks will continue to exist further, but gradually in their work will begin to introduce the capabilities of the blockchain technology.

BILGPS

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Blockchain technology is bringing changes in the financial system but due to some regularities it is not expanding in the world but in my opinion it will not replace the banks still they will operate and it will be in cooperation with banks can do a better job,

Sendi blackspade team

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Quote from: Omela44 on October 29, 2018, 12:19:12 AM

Banks certainly can not be displaced or replaced by crypto. One day, banks will use the blockchain technology themselves and probably also accept crypto currencys. Banks have so much power and fiat money that they can not be easily replaced.

we can already see blockchain technology in banks. Some ico projects have conceptualized the bank industry that is connected with blockchain technology. indeed the function of the bank will not be replaced in the community, but blockchain can enter in any existing industry. this will be very fast.

bagikoin

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Bank and blockchain will be a good collaboration. of course what is owned blockchain would be needed to improve the bank's security systems become more secure. code that is not easily passed from the computer will provide protection to the bank and certainly, this adoption will be enough. replacing the bank of course certainly not since even the Government itself certainly won't do the policy.

poodle63

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Quote from: BigBos on October 28, 2018, 11:36:41 PM

Quote from: skiorf on October 28, 2018, 11:31:36 PM

Between blockchain and bank, I think it has different goals and benefits. The target of the bank is much wider in scope, bank income is one source of income for the country. Until now crypto does not have legal permits, so the blockchain is still a lot of opposition. I prefer blockchain for crypto facilities only. He is very good at cryptocurrency, not banking.

Well, I also feel that banks and blockchain are different things. blockchain might be a very good system, but it can't replace banks. but, banks can use the blockchain system to improve their transaction systems.

Alright and i thought that so many people have understood about this thing, blockchain is about to transform the traditional economic system with the modern system that will cut a lot of funds for maintenance cost. Blockchain is about the system that will create a revolution in the economic industry.

Omela44

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Banks certainly can not be displaced or replaced by crypto. One day, banks will use the blockchain technology themselves and probably also accept crypto currencys. Banks have so much power and fiat money that they can not be easily replaced.

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