Blockchain will complement banks, there is somthing to be said about having banks that are thrid party trusted, many operations do require and intermediary, not to mention the bank multiplier of credit.
Very true pick a word to complete. As the banking sector is beneficial to all countries. And the blockchain can speed up transactions or to make any other changes that can improve the functioning of the banking system. But the abolition of commissions and anonymous money transfers from banks of course should not wait.
Topic: Can blockchain replace bank? - page 29. (Read 4209 times)
Blockchain is technology which also can be used by banks and every other institutions for record purpose and decentralized of data through the ledger .
Banks is centralized and can use blockchain to decentralized it ledger but privacy is Paramount when we talk about blockchain .
Banks is centralized and can use blockchain to decentralized it ledger but privacy is Paramount when we talk about blockchain .
I think that bolocan will not replace banks but will make global changes in transaction and reduce costs.
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 to replace a bank or banking is a very difficult blockchain. even if it can be done it has to wait a long time to convince Bank customers to prefer blockchain.because in my opinion what is not easy is to convince them to switch to blockchain and leave the Bank or banking. therefore our task is to be able to convince them to switch to this innovative system, blockchain.
Bitcoin is still the best candidate we have today as an alternative to government-issued money in terms of liquidity and adoption.
The banks foundation is very strong and the blockchain technology is just a new trends, I think it is hard to replace the banks, it maybe banks applies blockchain technology to their banking system and offer it to their clients.
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?
No I don't think so they can co exist but replacing banks will have a major impact and people will have a big turn around on dealing how they save money and fund their retirement and basic needs, there is no use replacing our banks we still need them although they sometimes hurt us with their policy and interest rates.
Of course it can, I am optimistic that the future of blockchain will be bright, it has been proven that blockchain transactions are more effective and faster than banks so they will replace the bank system.
Blockchain will complement banks, there is somthing to be said about having banks that are thrid party trusted, many operations do require and intermediary, not to mention the bank multiplier of credit.
Very true pick a word to complete. As the banking sector is beneficial to all countries. And the blockchain can speed up transactions or to make any other changes that can improve the functioning of the banking system. But the abolition of commissions and anonymous money transfers from banks of course should not wait.
Blockchain will complement banks, there is somthing to be said about having banks that are thrid party trusted, many operations do require and intermediary, not to mention the bank multiplier of credit.
Actually this posibility is really low but I think that it is not imposobille in the close future because blockchain has a lot of advantages that can move to a steep for example it is cheaper and faster and mobilizing than all banks.
The most important here is the massive adoption based in the technology and how the blockchain technology can help the bussineses to improve their process.
Blockchain can only complement and improve the banking sector. Why are people in such a hurry to give up good and time-tested things?
No I don't think so, bank is for the fiat so its better that both exists ,they will both do fine co existing ,one can't hurt the other ,I still use my bank accounts and I'm into crypto as well ,I don't know if in the future blockchain will have any part to take in the banking system but for now its no.
blockchain is for tool , and bank is performer. So , in my opinion, blockchain will not replace the bank , but bank will use blockchain to their system for more secure,fast, and transparance.
It is possible to use blockchain technology in banking and financial institutions, but the Bank will probably not be able to replace it.
Of course not.. Blockchain is really a great invention and technology of our century, but banks like physical institutions can not be replaced by blockchain, they may be combined and it is excellent for the banking system, but replaced not. Even if it happens MAY BE some day in future nowadays it is not possible because there is no legal effect for this, our judicial system is not ready for this. It will require serious decisions from government and lots of changes in legislative system.
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?
You probably have no idea what a bank is and what its functions are. Otherwise such a stupid question would not be posed. A bank is not only a transaction. This is a very multifunctional structure. One of the main activities of the bank is lending to individuals and legal entities, the social programs of the state and its individual industries. Is it possible to do this in bitcoin? If such a loan would be issued this year, the bank would already be bankrupt due to the fact that the price of Bitcoin has fallen three times since the beginning of the year.The remaining functions of the bank is even meaningless to consider.
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 an excellent technology and it will be a use by many companies. However, it won't replace banks and should be implemented in all banks to have more faster transactions. The current system of the banks and blockchain will coexist and in the near future banks will be based on blockchain. 
I think this can happen. In the future, the blockchain may replace banking operations and become the main system for the circulation of all financial assets. But this is still a very long way. But he in my opinion has already begun and will be undisputed.
Many, many years into the future,,, if at all. The problem today is 99% of new blockchain projects that get the attention of people including bounty hunters are all corporate projects. Worse, all linked to banks. And now banks and MNCs are all patenting blockchain tech.
What started as a challenge to banks now the banks are fighting to privatize and monopilize.
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