Topic: Can blockchain replace bank? - page 23. (Read 4177 times)
to replace a bank that I think Blockchain won't be able to, but being part of the banking sector is the most realistic guarantee. Banks are financial institutions in the world, while Blockchain is a system in the financial sector. So there is no way blockchain replaces banks.
As far as I know, many banks are already implementing blockchain technology. Every month more and more banks are switching to blockchain. I think soon we will see who will win.
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?
Bank Are the institution that hold and transfer money, so the difference from blockchain are the technology and the further function of the blockchain are open wide, i think blockchain will be adopted by bank so they use blockchain for their system rather than the old conservative bank system.
I agree with your thoughts... blockchain is powerfull enough to change society... I think banks have been offering a lot of services that are no longer needed due to the ability people now have to control their own finances... and they charge heavily for that and on top of it they control your finances, not you...
Banks see this and are rushing to implement blockchain and probably gather crypto... they will not fall easily...
Banks see this and are rushing to implement blockchain and probably gather crypto... they will not fall easily...
banks are very interested in blockchain technology that they are studying the application of blockchain in banking operations. some banks are starting to use blockchain for bank-to-bank operations. in time, they will use blockchain technology for transactions and records of their customers. this will save the banks a lot of money and the process will be very fast.
No. Blockchain is a technology while bank is an organization. They can't replace each others.
Well said bank and blockchain are different, blockchain is the technology and on other hand banks are the organisation
That's true... But still I see so many blockchain projects that want to perform the work of banks, different projects can be responsible for different functions, like loans (Home Loans project, for example) or credit cards (Amon, etc). But government won't support this, as it's the decentralization itself.
Blockchain and banks are two completely different spheres. Despite the fact that the blockchain is entering our life more and more firmly, as the most popular technology, I think it will not be able to replace the blockchain. Perhaps in the future, banks will be able to use this technology, but for now it is too early to talk about it.
Probably you a right, but still blockchain will take from banks such functions as money producing and transactions managing. I think banks in the future will lose the main functions of money management
Blockchain replaces the Bank, I think it is very difficult to happen. If we keep the money in the Bank it is certain we have the assurance of security. And the Bank has become the place to save the best of the world. But if saving money in Cryptocurrency certainly has a very big risk. But if you can do a good job in crypto, your money could certainly thrive and gain profit.
Blockchain and banks are two completely different spheres. Despite the fact that the blockchain is entering our life more and more firmly, as the most popular technology, I think it will not be able to replace the blockchain. Perhaps in the future, banks will be able to use this technology, but for now it is too early to talk about it.
Bank is a management organization while blockhain is technology, so bank should use this technology so that all transactions are clear and there is no mutual suspicion. Only some banks that use this technology.
it will not replace bank instead it will be use in lots of transactions and other important process
in the industry specially those who needs , faster transactions and process , that it will change a lot of things
but others might take advantage of the block-chains so we need to be very careful
in the industry specially those who needs , faster transactions and process , that it will change a lot of things
but others might take advantage of the block-chains so we need to be very careful
Bank and cryptocurrency are in different place altogether! Banking will continue to exist as the ecojomy of many countries are based on the operation of banks! Cryptocurrency howevervis the new kidcon the block! The amazing features of fryptocurrency will keep attractijg more peoppe to fryptocurrency!
Well blockchain can do everything banks do but ever better
I think that it is possible that blockchain will replace banks, but this will not happen too soon. I think we should wait a little more
Yeah it is the main benefit of blockchain technology. When blockchain will do everything that banks do for us, then there is no need for banks anymore. Blockchain will easily take over by blockchain technology. Banks cannot do anything else for its customers and account holders, while blockchain will do everything for its users. It will hold the world in the future.
Banks is big bussiness and having a lot experience in finance industry. I am believe banks will adopt blockchain and take advantages on this technology. Banks will always needed to grow a country economic and i am believe blockchain can not replace banks in near time
Of course! In general, besides the anonymity of transactions, the main idea of the Blockchain technology is to destroy the modern world economy and the banking system
Why it has to replace bank, banks had a crucial role in our society that the blockchain technology cannot give let them co exist so they can serve the people, they have their own purpose in our community and besides banks already exist for hundreds of years and they contribute to the growth of our civilization.
Nope, it would not happen, banks are quasi entity of a certain country and it's a controlled by the central banks so it would not happen that Blockchain could replace banks.
Perhaps not completely but surely it's possible to create an interesting ecosystem. From the tech point of view (and that of the trust, of course), there are still many things to do.
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 not. The bank has existed for a long time and it serves all types of customers. People who do not understand technology are still able to access the bank. Blockchain technology is really a great technology but it requires customers to have knowledge of it and some cumbersome operations. So I think blockchain technology only reduces the influence of the bank.Jump to: