Topic: Can blockchain replace bank? - page 21. (Read 4177 times)
If you pay attention to the fact that today there are already a lot of tools that still work on AI and also on smart contracts, I would probably say that this is very likely today, because today life is becoming more technological.
i do not think that it is going to happen because it needs first permission from the government and ido not think thathascanever happen.
Why does it need someone's permission to happen? I guess if once most of people just stop using banks and all the services offered by them, and choose to use blockchain based projects instead of banks, then we'll be able to say that banks are replaced by blockchain. For example, if I send money to my mom using Litecoin instead of Visa.
i do not think that it is going to happen because it needs first permission from the government and ido not think thathascanever happen.
It is like to say - can the artificial intelligence or technology replace middlemen in all type of services, supports, explanations and etc? All things provided by banks.
If to tell only about money transfers to the different countries that will be able to replace bank. the bank provides to the clients many different services.
It seems to me that blockchain is very good replacement to modern banks and financial systems. We live in the 21st century, but all calculations at us still take place in paper, system already very old. Long ago it is time to change something in it.
i think it has poddibility to happen but according to me it is not going ever to happen because it needs a lot efforts.
I don't think that blockchain can really replace banking system but for sure this technology can improve their services, expecially for better security and transparency in transactions.
The blockchain is really a revolutionizing and a game-changing technology for the future. Maximizing the full potential of this technology is really helpful to speed up and improve significant processes in our modern world. However, replacing banks for financial transactions is far from happening. As of now, I can't see that story to happen, unless huge development would happen.
You're right! There's always a gap between the creation of a technology and its acceptance by the world. We'd better wait for at least 2-3 years and then invest in strong startups. And BTC you may buy right now - it won't become obsolete!
hardly the blockchain for the exit Bank. rather, banks integrate this technology into their products. this information storage and cross-border transactions and much more.
I think if world will start to use crypto currencies instead of money we dont need banks anymore. Because we will save our money and we will use our money.
We dont need any banks after that crypto revolution. So maybe blockchain cant replace bank. but with blockchain we dont need banks.
Or maybe banks will start to use blockchain.
The fact is that a year ago a lot of banks began to test and implement technologies based on the block chain. I think that banks, in turn, are very quickly oriented so that the block chain does not compete for them. We dont need any banks after that crypto revolution. So maybe blockchain cant replace bank. but with blockchain we dont need banks.
Or maybe banks will start to use blockchain.
I think if world will start to use crypto currencies instead of money we dont need banks anymore. Because we will save our money and we will use our money.
We dont need any banks after that crypto revolution. So maybe blockchain cant replace bank. but with blockchain we dont need banks.
Or maybe banks will start to use blockchain.
We dont need any banks after that crypto revolution. So maybe blockchain cant replace bank. but with blockchain we dont need banks.
Or maybe banks will start to use blockchain.
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?
Do you ask or emphasize?))
In my opinion, it is too early to speak about such things. Every person knows what a bank is, but not every person knows about the very existence of cryptocurrency. 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?
of course, he can imagine how much money banks spend on transportation and storage of money, so in many countries, high-interest rates, cryptocurrency, and blockchain can easily replace it, but banks will not sit and watch as they are destroyed, I think between them is already a competition.
This is quite possible, especially if we take into account the fact that today all the same, many people know what smart contracts are, I think that today people will still react to this correctly and understand what will happen in the near future.
I think it will happen in the near future. That is, the blockchain will completely replace the Bank. Although maybe not all, but the weakest of them for sure. Because you yourself have listed a number of advantages of blockchain in relation to banking systems. Blockchain is convenient and fast, and most importantly, it does not involve third parties and sends money to any point of the earth space, erasing language and international borders
In the future, all services will be transferred from the real world to the virtual, the same thing will happen with the banks. Blockchain is the future of the banking system. I think that this will take no more than 10 years.
But can blockchain give you a credit or a small loan? I think blockchain is a good thing and it is able to do bank job but not all of it.
Blockchain can develop a lot in the next years but we can not compare it with banks because it is different. It is a technology not an organization
Blockchain is a technology and bank is a financial institutions. I think it is impossible to replace the banking system by blockchain. But in my view blockchain technology can be used to create the digital bank transactions and to save fees for the customers in future. And also blockchain is better to make faster transaction.
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