Topic: Can blockchain replace bank? - page 25. (Read 4177 times)
Of course, cryptocurrencies can replace banks, but whether banks want to be replaced - that is the question
at the present time with the sophistication of blockchain technology that is able to provide convenience in transacting transparently and quickly, of course it does not rule out the possibility of replacing conventional banks. because more and more days the number of interested people from crypto and that shows that people will slowly leave banknotes and use crypto without services from the banking sector. yes there is nothing impossible for the future ...
I am sure that this will happen sooner or later. But the war will be very serious. Just because the bankers will not let go of the situation. None of them want to lose millions of profits. And we all understand that perfectly. A lot of time must pass before this becomes a reality. A crypto for a long time will be an alternative, before full recognition.
Referring to the specialized element, banking institutions particularly their own e-banking also provide the pit that may be used through cyber-terrorist, however, their own centralized natures might conquer this. During the decentralized program such as blockchain, the reversible deal is simply not possible. Perhaps we have to solve this particular very first.
I wouldn't say they would but banks will play a limited role in the future
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 honestly think that blockchain technology is already refined and ready to replace banking systems all over the world right now. It's just that the medium to be used under blockchain technology, which are the current cryptocurrencies we have, is not yet refined. There a lot more room to grow for cryptocurrency but blockchain is already in its apex.
it could happen, but it really needs support from all parties so that this dream can be realized, hopefully the government also wants to support this positive step so that later blockchain technology can develop and become a progress of that country
may be one day, but I doubt.
Because blockchain, classical meaning of it, doensn`t represent interest of particular group, as baks
thats why sharks won`t let to do it
Because blockchain, classical meaning of it, doensn`t represent interest of particular group, as baks
thats why sharks won`t let to do it 
Yes, Blockchain has every capability to replace the bank. But People are not ready to use Cryptocurrency over the bank! They are used to with banks, PayPal and other Digital currencies. Crypto needs more acceptance to avoid this obstacle to replace the bank or we can use both platforms at the same time.
I think that blockchain cannot replace banks, we know that banks have become a place for storing money that has long been recognized by the government while the bank is still recently and the blockchain has not been acknowledged by the government.
blockchain is technology not institution
so never blockchain can replace bank, bank can use blockchain technology
so never blockchain can replace bank, bank can use blockchain technology
This is a topic I am really passionate about for some time now since I joined cryptocurrency. It is very clear that society will always come up with new and better ways of doing things than our predecessors had. In time passed, it used to barter trade which evolved into goods for goods and later gold was the medium of exchange and soon banks came in and on and on. So it is crystal clear that the banking system will also fade away sooner than people think and believe in now and the cryptocurrency industry is well poised to take the position of the banks.
Or the bank itself will use blockchain technology and make everything more efficient? maybe that is the case right now since so many bank have tried using blockchain until now, they are experimenting how blockchain could improve the efficiency in their internal. That actually prove that blockchain is useful in practical use while it also means bank will nowhere soon to fade
Well, I also want this to happen in our lives so we don't need a bank anymore, so if we all want that, we can definitely wipe out paper currency so we don't need it anymore, but is every country ready to make such big changes? because not all countries are modern countries there are still many developing countries.
The advantages of international transfers of cryptocurrencies using the blockchain system are not even worth talking about. Banks will never be able to offer something like this.
The blockchain technology has proven beyond doubt to be the best technology ever but I don't think it can over take or replace the banks because not all people will be able to use blockchain and its products.
This is a topic I am really passionate about for some time now since I joined cryptocurrency. It is very clear that society will always come up with new and better ways of doing things than our predecessors had. In time passed, it used to barter trade which evolved into goods for goods and later gold was the medium of exchange and soon banks came in and on and on. So it is crystal clear that the banking system will also fade away sooner than people think and believe in now and the cryptocurrency industry is well poised to take the position of the banks.
I think the question should be can crypto currency replace bank? because blockchain is a tech on it's own even banks can build moving their banking operations and service on the blockchain to make banking more transparent, But I don't think cryptos can replace bank because the industry is already an established industry and it's worth trillions of dollars
There are already many decentralized cryptocurrency exchanges. The next step should be their development and transformation into decentralized banks operating with digital assets. This will bring the entire banking system to a new global level and will provide access to financing even in the most remote parts of the Earth.
That could happen, it has all the functions that banks have, for example, you can make secure transfers and transactions, you can avoid double spending, it is protected against most attacks, so I do not see a feasible reason why it can not replace our current financial system ... of course the government have to let that happen, good luck with that.
Blockchain technology is a technology that can be utilized by any organization. Not necessarily replacing banks, but that banks can utilize it for the enhancement of their services. No wonderful the governments of some countries are considering it to be a useful tool.
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