Topic: Can blockchain replace bank? - page 7. (Read 4177 times)
Personally, my opinion, I believe that at the moment the blockchain will not be able to replace the bank as it is now almost impossible. Maybe in the future this will happen when new technologies and new banks emerge that will work with cryptocurrency. For me personally, this is a very interesting idea about new technologies where a large amount of cryptocurrency will be stored.
Judging from the capacity and capabilities of blockchain technology in replacing banks, it is very possible. But in my opinion, this replacement is not in the near future. In the near future, banks are still very necessary because not all people have online access so that the community is not ready if the system will switch to the blockchain. Banks are still very much needed especially in developing countries and the people are not all open to crypto currencies. In my opinion, to switch to this blockchain requires a long adaptation, maybe 5 to 10 years.
i think physical bank will still be in exist for the majority. as for me im happy to be my own bank and to transfer funds from one another with just a cent fee thats what im here and will still be
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 was only created to transact financially without the middle party like banks and other financial institutions. This will free you from centralized policies that generate big fees and other unnecessary procedures. But other processes of banks cannot be replaced by blockchain. So even though blockchain is developing, banks are still here to stay.
Banks are already testing the blockchain technology with full swing and will soon be actively using it, it’s too early to talk about replacing fiat money with btc due to insufficient scalability
Can blockchain replace the bank? Of course it will. There is nothing surer. Blockchain and cryptocurrency will certainly replace the banking system as we know it. I am entirely convinced of that.
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. She can not replace the bank. When banks will see the benefits of the blockchain, they will gradually introduce it into their operations. This is a revolutionary technology and it will be appreciated very highly.
Banks may disappear. they can be replaced by more developed structures. it may not even be a blockchain ...
But at this stage, banks will definitely and will gradually move to new technologies.
But at this stage, banks will definitely and will gradually move to new technologies.
blockchain will not be able to replace banks, they can work together to strengthen various sectors but not to compete with each other
no, as long as there are still many people who don't trust this technology it is difficult to do. and in my opinion in the future the bank will not disappear but they will integrate their services into the block network..
I also think that the blockchain will not be able to replace the banks , but to work better it is really. For example, to increase the speed of transactions in the banking network. But it transfers between people will never be anonymous. The banking system will live for a very long time.
no, as long as there are still many people who don't trust this technology it is difficult to do. and in my opinion in the future the bank will not disappear but they will integrate their services into the block network..
I think the bank is still doing its job well. Blockchain is an electronic money trading technology, and it also participates in intelligent city management systems. I think in the future the bank will apply Blockchain technology because of its usability
I'll replace your question by saying, "Will the banks use blockchain?" Crypto needs more development, first of all cryptography to replace cash, but we will not see this. Most likely the banks need to apply blockchain technology, but it seems to me that they are not capable of doing this! But it will take time and a great effort to make people fully accept blockchain technology.
Yes, absolutely. They are experimenting with it now. However, they all still have the centralized mindset where they think the best way to proceed is to have their own tokens that they control and they only want to jump on the bitcoin bandwagon because they think they can sell product with the buzzword. The fundamental meaning of the blockchain will take at least a generation to filter through to those people.
I'll replace your question by saying, "Will the banks use blockchain?" Crypto needs more development, first of all cryptography to replace cash, but we will not see this. Most likely the banks need to apply blockchain technology, but it seems to me that they are not capable of doing this! But it will take time and a great effort to make people fully accept blockchain technology.
Blockchain is the latest technology that has brought revulation in the financial transaction sectors which was unbelievable in the banking sectors within the few seconds, less fees, more secure than now. Blockchain is the pioneer, bank will exist but blockchain and bank will amalgamate to more advanced technology in the future.
can't, even though the blockchain is more sophisticated than the bank. because here we will talk about law, where banks are built based on state regulations and that is legal, while the blockchain has not yet gotten that.
It could not be possible, it may act as a digital bank but not replacing bank, bank is a fiat currency saving firm which is back by Government, and no government would want its local currency to be wipe off.
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?
Banks are already concerned about this issue, so they are considering the possibility of using blockchain technology in their field, otherwise they will go into the past, as much has already gone. Banks are intermediaries between the seller and the buyer, who impose their intermediary conditions than increase the value of the product. They must be removed from this chain.
I think old and big bank will hesitate to adopt blockchain technology since they have a real and direct relation with economy of the country where they operate, but new or small bank will take a chance to adopt it to attract new customers.
Required. This will definitely happen very soon, because today cryptocurrency is probably the most profitable business for the whole world. Everyone understands that sooner or later we will switch to cryptocurrency.
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