Can blockchain replace bank? - page 19.

SimonJones

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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 feel that blockchain will not replace bank rather they will work together smoothly.

Slash61

member

Activity: 633

Merit: 14

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

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.

Yes I agree with you. the future the bank will follow the development of blockchain. It would be great for the industry bank. to replace the bank might not be able to blockchain but for integrated with blockchain bank is very possible. We will wait the time it happens.

itasannah

sr. member

Activity: 798

Merit: 251

Will not be able to replace the Bank. And I think because its system is also different from the Bank. In fact, there are many countries that do not give permission to Blockchain. So the society also cast doubt on the security of the system Blockchain. However, we are confident with the future of Blockchain technology very well. And I think Blockchain will continue to evolve.

BigBos

sr. member

Activity: 1974

Merit: 450

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.

Beldon

member

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Merit: 10

I think it will be difficult because the blockchain and the bank have their respective roles, even the government is not necessarily to approve the policy

skiorf

sr. member

Activity: 812

Merit: 310

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.

mastersay

jr. member

Activity: 322

Merit: 2

It can't be possible, because it is competely separated. The blockchain only hold digital currencies so far, while the banks majority currency holds physical money. And most of the banks are run by the government.

anchuoinhhoc

jr. member

Activity: 252

Merit: 1

As for me, if blockchain replaces a bank, that would be very difficult. Banks are now closely related to the rest of the world if it blocks the growth of blockchain if the word is spoken.

MrPao

member

Activity: 280

Merit: 10

Fast, Smart, Trustworthy

Obviously, the blockchain will not replace the bank, because the Internet is very dangerous, no one is willing to store the property in the hacker's encirclement, but the addition of the blockchain can make the bank better!

clololck

member

Activity: 459

Merit: 10

The blockchain is just a financial technology, and it cannot hide the financial itself. The bank's contribution to humanity is currently irreplaceable. The bank is also very great.

mistemb

copper member

Activity: 226

Merit: 0

no you cant replace banks, the idea on blockchain is to " BE " your own bank. bitcoin is a Store of value as well as a currency its more beneficial to buy bitcoin than wait those FIAT money sitting down on bank and getting killed by INFLATION

naruto7676

jr. member

Activity: 318

Merit: 1

Bitcoin is already accepted in different countries for their banks and lot of them get bitcoin for depositing and withdraw and converting it to become a real money.

andeonnut

jr. member

Activity: 238

Merit: 2

The main purpose of banks is lending. There will need to be a ton of infastructe for crypto built to replace that.

queennathalia

member

Activity: 434

Merit: 15

Cannot replace the bank, But they can reduce the people who kept their money on the bank and also reduce the fee. That is why I think bank can't replace. Some of the bank are invested on the blockchain or the other partnered on the blockchain. Don't think that blockchain can replace the money or the bank, Because all value of the blockchain was from the cash/fiat.

cfif123

sr. member

Activity: 532

Merit: 250

Quote from: Enzos on October 24, 2018, 05:30:37 AM

The banking industry will not be replaced. Although the cryptocurrency is decentralized, there will be centralized coins in the future. Human civilization is currently inseparable from banks.

absolutely right and to the extent that the bank will never be replaced by a new system that is more sophisticated than the bank, because the community is sure to use the bank rather than a new system

nepeso

member

Activity: 294

Merit: 10

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?

Blockchain is truly a progressive system for modern society, which provides important advantages compared to classic banks and other centralized institutions. I’m sure that in time, blockchain will be able to completely replace the classic banks.

cryptolord2077

full member

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Ideally, the blockchain is capable of this, but the more likely option is when the blockchain will be integrated into the banking sector, not all banks will take this step, but only the most advanced and trusted.

cryptofunn

full member

Activity: 490

Merit: 100

I think ideally in theory it is possible. But so much money has been invested in the banking industry, so many states are tied up with banks that it is unlikely in practice that is possible. Therefore, an active process of integrating the blockchain into the banking sector and buying cryptocurrency exchanges is already underway.

geliliyo.bit

newbie

Activity: 28

Merit: 0

what happens if the blockchain replace banks ??
is there any financial flows happens Huh

?

ronafurw

full member

Activity: 420

Merit: 102

Quote from: craked5 on October 21, 2018, 04:29:48 AM

blockchain will not replace banks but banks could use blockchain in their service. this will give lot of advantages, such as tranparency, transaction speed, security.

We need a bank for putting money, transfer, loans, etc. and if blockchain do all these for its users then there is no need for bank. But one problem here is that deposits in bank accounts is reliable and secure while using blockchain will be totally depend on internet which is hackable. But one thing is clear that banks will turn to new technology for survival.

Topic: Can blockchain replace bank? - page 19. (Read 4177 times)