Topic: Can we totally eliminate all the banks in this world? - page 32. (Read 6105 times)
I think it's not necessary when all the bank account information is completely transparent and legal. They should not be used by Bitcoin, the engagement activities will be more and more
What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
Is is not a easy job to shutdown all the banks in the world as banks in the world are one of the most important aspect in the worlds economy and it if collapses than it will be a big problem to many peoples. It is not possible to close all the bank but it will be possible to make a big worls bank and all operations to be operated under it. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
The banks still hold a crucial spot for the majority of people, it will be decades until the blockchain will completely remove the banks, though they will adapt and co-exist peacefully.
At this moment not because not everyone in the world has access to the Internet, and the process of setting up accounts and other formulas can be terribly long, so older people may have trouble making such an account.
the Bank is now predicting things that will make them destroyed in the future one of them is Blockchain technology,
Some Banks like have started trying to learn it, and maybe in the future Banks will adopt Blockchain technology ..
Some Banks like have started trying to learn it, and maybe in the future Banks will adopt Blockchain technology ..
They are already starting to develop their own blockchain and some already are using XRP as being announced by them too. They are not going to be left behind but will also not going to just disappear without a fight. Banks will always be here specially when we talk about money.
the Bank is now predicting things that will make them destroyed in the future one of them is Blockchain technology,
Some Banks like have started trying to learn it, and maybe in the future Banks will adopt Blockchain technology ..
Some Banks like have started trying to learn it, and maybe in the future Banks will adopt Blockchain technology ..
As we know that the crypto currencies are trying to capture the whole market and that’s why people are giving importance to them but it is not possible to eliminate the whole banks from the world as we know that banking industry is as whole big industry and people are doing thousands of transaction everywhere in the world. The banking industry is now the backbone of economy.
I doubt that, bank pays a lot of money to the government so I believe government will protect it's interest, and other thing is BTC is still not widely accepted, even with all the proof given on how good it is and the potential it offers, people still doubts it and kinda skeptical on trying it out. so I think it might take a while for BTC to eliminate banks.
Bank is the official company that pay taxes, I'm sure the government will protect the bank so that for the near future this is impossible to elimination banks.
What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use.
In this situation we may say that now banks are no more needed in the world but it will take some time to be happened. It is not impossible for bitcoin to overcome the banks of the world.
What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use.
In this situation we may say that now banks are no more needed in the world but it will take some time to be happened. It is not impossible for bitcoin to overcome the banks of the world.
If the banks in the future will be closed because of the cryptocurreny then it will be a big problem for a lot of people and mostly for the bank owners. It will also be a problem for those who are woking in the banks because their jobs will disappear.
I think the bank elimination is very difficult today, because the economy is still very dependent on banks, all the distribution of money via banks and most importantly the banks are fully protected by the state so that if there is a problem bank then the country will solve.
What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
Even thou the cryptocurrecy’s making a lot of progress you still cannot make the banks disappear because banks are still bery useful for many people in the whole world to keep thei money safe. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
I don't think that banks will be elliminated, there are still services that only banks can offer to their clients. I think that banks will only adopt what bitcoins are doing but elliminating them is i think not possible.
Banks are the basic necessity of any society. There is no way that we can live a comfortable life without having banks. Banks come directly under the control off government and I don’t think so that government will take any such step which will result in lot of troubles not only for the citizens but for the government itself. There is no point that will convince us to eliminate the banks from this world.
Is there a reason to do that? Banks aren't necessary the worst of all evils and I kind of like having credit cards that would reward me with cashback when I buy food or gas.
The banking system was created with the ability to adapt to the environment.
Here's a quick history lesson:
The first recorded banking system was during the crusades when the Knights Templar provided travelers documents written in a unique cipher to allow them to travel without having to bring with them their treasures. They can deposit their gold in another land, and withdraw them in a different one, so as long as there is a Knights Templar base nearby.
Now, compare how far the banking system has changed from that.
It will be most likely that the bankers will simply improve their system to fit in directly with how people will transact through digital currency.
Banks cannot be eliminated now because still they are fulfilling the basic needs of people whenever people stuck in financial crisis banks are here to help them but now another innovation has entered the market that is bitcoin and market and bakers are in worry that this coin will shut their business and it’s true because people are rushing toward bitcoin and banks are thinking to accept the bitcoin to continue.Here's a quick history lesson:
The first recorded banking system was during the crusades when the Knights Templar provided travelers documents written in a unique cipher to allow them to travel without having to bring with them their treasures. They can deposit their gold in another land, and withdraw them in a different one, so as long as there is a Knights Templar base nearby.
Now, compare how far the banking system has changed from that.
It will be most likely that the bankers will simply improve their system to fit in directly with how people will transact through digital currency.
What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use.
I think the opposite must happen, so that bitcoin can be applied to the payment system in our daily lives, bitcoin must be accepted by governments. However, it is too early for bitcoin to do that, it takes more time to develop.
The banking system was created with the ability to adapt to the environment.
Here's a quick history lesson:
The first recorded banking system was during the crusades when the Knights Templar provided travelers documents written in a unique cipher to allow them to travel without having to bring with them their treasures. They can deposit their gold in another land, and withdraw them in a different one, so as long as there is a Knights Templar base nearby.
Now, compare how far the banking system has changed from that.
It will be most likely that the bankers will simply improve their system to fit in directly with how people will transact through digital currency.
Banks cannot be eliminated now because still they are fulfilling the basic needs of people whenever people stuck in financial crisis banks are here to help them but now another innovation has entered the market that is bitcoin and market and bakers are in worry that this coin will shut their business and it’s true because people are rushing toward bitcoin and banks are thinking to accept the bitcoin to continue. Here's a quick history lesson:
The first recorded banking system was during the crusades when the Knights Templar provided travelers documents written in a unique cipher to allow them to travel without having to bring with them their treasures. They can deposit their gold in another land, and withdraw them in a different one, so as long as there is a Knights Templar base nearby.
Now, compare how far the banking system has changed from that.
It will be most likely that the bankers will simply improve their system to fit in directly with how people will transact through digital currency.
This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use.
Eliminating the banking system is not a realistic situation,we need both digital and banking system in tandem for smooth transactions,we need both form of currency for real life purposes ,so i don't think so we will be seeing a complete digital era when it comes to banking and if that happens,just think about the millions of jobs depending on the banking system,it will be a chaos. Jump to: