Topic: Can blockchain replace bank? - page 4. (Read 4177 times)
Never blockchain could replace bank because not all or people using and know about blockchain and cryptocurrency, many people still not understand what its bitcoin and altcoin or crypto, maybe just few people have know and participated at crypto.
I think it will be very difficult if the blockchain will replace the bank, because each has its own role, and certainly not all agree if this will be realized because not everyone knows blockchain
Yes, if we see indeed the trend of Blockchain continues to increase and become very popular. But to replace the Bank, I think it will be very difficult. The bank has very good security and has a guarantee that it is connected with a legal entity. But unlike Blockchain technology, not all people know about this technology.
In my opinion, Blockchain cannot replace the Bank. If you say that with the Blockchain system, you don't need a third party to sign on paper. And that makes everyone doubt because there is no guarantee of security or if something happens they don't get a money back guarantee. Crypto in my opinion, where investment is very profitable but has risks. And if you want to be safer to save money in the bank and have very good security.
Blockchain is a new technology and it`s purpose is not to replace the banks. Banks are investing into many blockchain related projects so it can be a win-win situation. Cryptocurrencies could potentially include 2 billion people which banks could not include into the financial system.
It may be possible in the near future. Because it is automated and we can tell that there can be no bias on its transactions. But when we gone to blockchain in replacing the bank, the risk of it is high because it may become the next target of hackers in stealing bank funds.
If all the same hackers can have the opportunity to catch Bitcoin, or they still have found the opportunity to work in order to replace the information in the blockchain on all computers, then the technology itself and the cryptocurrency will definitely be able to leave very quickly.
It may be possible in the near future. Because it is automated and we can tell that there can be no bias on its transactions. But when we gone to blockchain in replacing the bank, the risk of it is high because it may become the next target of hackers in stealing bank funds.
Sure it can surely replaced bank but there are lots to do to get to that stage because presently we cryptocurrency and blockchain is yet to be widely accepted by various government of the world. We will have to get the cryptocurrency widely accepted all over the world before we get to the stage of it replacing the bank. Once it is accepted all over the world as legal means of doing business then we are good to go.
I do not think that crypto will replace Banks totally. The most possible scenario is that blockchain technology is going to be adopted by the traditional banks and we will see such solutions as Ripple. But I hope we will still see fully decentralised banks.
It seems to me that I have already expressed my negative point of view about the XRP, but this is indeed a banking thing that will work and the bankers obviously will not miss this opportunity, but definitely this is not decentralization. 
I do not think that crypto will replace Banks totally. The most possible scenario is that blockchain technology is going to be adopted by the traditional banks and we will see such solutions as Ripple. But I hope we will still see fully decentralised banks.
It is not possible in any manner that blockchain replace bank but it is possible that bank use blockchain technology in future to do all work faster with more transparency. Because banks where we save our fund for future and whenever we required fund for our daily needs then we withdraw our savings or take loans from it so we can fulfill our requirement but on the other hand blockchain is a technology by which we can do our work fast, cheap, and in more transparent manner because blockchain is a future of digital world.
For a start, the blockchain is integrated into the work of banks and Fiat currencies will coexist with cryptocurrencies. And then we will see. Now nothing concrete can be said.
Why nothing specific? I think if you think more carefully and remember all your banking actions and the actions of a bank employee, then on the whole they are quite algorithmic, so everything is very simple.
I think it can't replace a bank, but i think blockchain technology can be used in different domains including banks, and yes van help a bank to store data and not make so much papers for all operations that need to be done.
I don't think so.
Before the situation comes, banks will adopt blockchain technology.
Talking nickname. I definitely should believe such people Before the situation comes, banks will adopt blockchain technology.
No. Blockchain is a technology while bank is an organization. They can't replace each others.
Really I agreed that we try to mix technology and people formation. Blockchain need people and interface at least. But who will do KYC or any check? Who will says about how it work? I wait some changes from blockchain implementations but not so fast and big
I don't think so.
Before the situation comes, banks will adopt blockchain technology.
Before the situation comes, banks will adopt blockchain technology.
During last week when market was red every day I really was ready to sell all my coins and put my money to the banks. So they should exist like alternative.
in this case both are related both have their respective advantages and have their uses in different respects but can still be related in a matter
During last week when market was red every day I really was ready to sell all my coins and put my money to the banks. So they should exist like alternative.
Blockchain is not a substitute for bank. Instead, Blockchain will be integrated into the bank and replace the old-fashioned payment method. Blockchain is a technology and it will be widely applied in banks in the near 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?
Blockchain is a technology, and cryptocurrency is a product of this technology. Neither the blockchain nor the cryptocurrency as a whole can replace the banking system. The banking system is not only a transaction. Banks perform various useful functions, especially for the state. In fact, now banks are part of the state. Cryptocurrency simply by its nature is not able to perform the functions of banks.
Even while all your explanation seems nice but I don't see the blockchain replacing bank. One of the reasons why most government aren't accepting the concept and usage of crypto is because of all the points you just explained and since this transactions are kind of difficult to put a name to them, most government will not allow the blockchain to replace banking
Jump to: