Topic: Can blockchain replace bank? - page 6. (Read 4209 times)
I highly doubt that the blockchain will replace the Bank, the Bank was created a long time ago and has passed many tests of time and still exists
If we will see more working products, than yes. There were so much ICOs that were aiming to achieve such goals, but still nothing happened and I am afraid if we would not see any working product, in the nearest future, such projects would die.
Yes, the Blockchain is suitable and takes not so high comission like the bank does. But I think that the bankers themselves wilk not allow to make this, only if they implement their own token that will be functioning in this direction.
The blockchain has all the possibilities to replace the Bank or be the main part of the banking system.
But there is a main question whether the Bank wants to be replaced by the blockchain, and while the interests of the banking system prevail over the blockchain.
But there is a main question whether the Bank wants to be replaced by the blockchain, and while the interests of the banking system prevail over the 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?
No, the blockchain is just technology. Technology is not able to replace a well-tuned banking system for centuries. Not able to replace the banking system and cryptocurrency. The banking system performs much more functions than the entire cryptocurrency combined can perform.For financial relations between individuals, a simplified cryptocurrency transaction system is very important, but for business, it is the banking confirmation of the transaction that is needed to provide the audit to the tax authorities.
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?
crypto may will not wipe out banking system but one day maybe it will be regualted by the banks for the fast and secure transactions..it is not easy to make baks disappear there is still need of banks like to store the money bearer checks, cross checks etc
I hope that this will happen soon! blockchain is convenient, fast and with minimal commission. I think that it is necessary to move on for a long time.
no the blockchain will not replace the banks because they are different technologies, but perhaps in the future more or less distant blockchain could become the main method of payment for everything or the banks could adopt its technology
Nope. Blockchain can never replace banks. Its like asking whether internet can replace banks. Blockchain is a technology. Banks will embrace it and use it as part of their system. However, cryptocurrencies more likely to take out a chunk of customer base from banking.
I do not know why people would think blockchain is able to replace bank. Bank has its own function and it's function is unavoidable. The same is applicable to blockchain, where it also has its own functions. One of the most important thing about the two, is that they can work hand in hand. Blockchain is a technology that is gradually being known and very soon, so many banks will integrate it into their system.
Probably yes,but now it is simply a dream.
i want blockchain to replace banks, but it is not stable and has no liquidity...
i want blockchain to replace banks, but it is not stable and has no liquidity...
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, blockchain can replace banks, and they are very much afraid of this, for this reason, banks begin to rebuild their system, begin to use blockchain in their lives, without it they will die and they understand it. 
I think that today there are already sketches of smart contracts that will work and carry out all the algorithms that bank employees perform, I am sure that they will have different functions in the future, because bank employees need to hurry with additional courses
In theory, everything is clear and simple, but in practice you can see for yourself what happens because the top market is not occupied by the best coins for its technology and also the blockchain technology is much better than the current system, but when it is implemented it is not known 
Blockchain encompasses a lot of system built connected on it. Banks can be built on blockchain and i believe that if there is enough global education as regards cryptocurrency and blockchain technology, yes people can become their own banks
Blockchain is such a big book which contains all the records. Probably similar programs are in banks also...
Banks will always exist because people will always think they need a central location to store their value that they perceive as safe. It isn't of course, but to change that perception and educate people about blockchain will take a generation.
It would be ideal if banks switched to blockchain but I think that because of corruption not all banks need it. It takes time because no one wants to just give a tidbit in the hands of ordinary people.
Blockchain is a great technology so that it is technically very easy to replace the bank system. The blockchain is very potential to help the future become easier and cheaper. However, I analyze that the blockchain will never be able to replace the bank system at any time. What will happen will not replace each other but will complement each other. Both of them will function in tandem to facilitate human work. If there is no bank, we can be sure that there is no more fiat money, even though fiat money is very important for offline transactions. Without banks and fiat money, economic transactions cannot be said to be real and direct. Especially for countries that are still developing and already internalized with banks, it will be very difficult for people to accept blockchain technology. So that I can conclude that maybe someday the blockchain will replace the bank system for countries that are ready with crypto currencies.
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 has very sophisticated technology and is currently proven to be able to handle millions of transactions quickly and safely. Blockchain is a very potential thing that can handle the banking system. Banks must upgrade their systems and they must try to implement the blockchain system quickly. If this is not done immediately, the Blockchain will be a scary thing and the Bank will disappear. The best option is that the Bank implements a blockchain system in the current bank system. Security, speed and convenience will be an additional point owned by the Blockchain. Jump to: