Topic: Is banking still important in the bitcoin era? - page 13. (Read 2285 times)
Talking about bitcoin is certainly inseparable from the role of blockchain. Blockchain technology does offer a transaction without any third party. However, I think banks have been able to adapt to blockchain technology. In the regions of Europe, the Middle East, and Africa (EMEA) almost all global banks have experimented with Blockchain. They are interested in Blockchain because the technology has the potential to cut costs and improve operational efficiency. Some banks are currently implementing blockchain technology in their systems such as Royal Bank of Canada (RBC). They developed a distributed ledger technology (DLT) system based on Blockchain technology, and named Hyperledger. In addition, Bank OCBC has also used Blockchain technology to transfer funds between OCBC branch offices in Singapore and Malaysia. The money transfer process takes only about 5 minutes. Then there's Bank Santander. The British bank has also started using Blockchain technology in its services. Bank Santander uses Blockchain technology to service payments abroad, through new applications. Conclusion, as long as the Bank is able to adapt to blockchain technology then both are still important and indispensable.
Banking is all about the financial administration, without banking none of the government will function in a better way. Maybe they have flaws in the functioning, but they're much in need for a country and other needs. Even now bitcoin has got dependence upon the fiat system, which shows the need for banking.
The definition of banking if people missed it is "the business conducted or services offered by a bank." , and most of these services mean transporting and conserving your money in total security , yet with the blockchain technology and the Ledgers all of this can be done without any need of any banks at all , yet the "banking system" is still there even if there's no bank at all . So like bill gates said in 1994 , we need banking systems but we don't really need banks and thanks to the blockchain technology such statement can turn into reality .Banks are the safest storage of our wealth and are geney trusted by the public and it will not be taken out from them. They also serve as the another very important purpose involving the creation of money, Banks are more than just financial intermediaries, they are in fact crucial to the functioning of our economy.
Banking is all about the financial administration, without banking none of the government will function in a better way. Maybe they have flaws in the functioning, but they're much in need for a country and other needs. Even now bitcoin has got dependence upon the fiat system, which shows the need for banking.
The definition of banking if people missed it is "the business conducted or services offered by a bank." , and most of these services mean transporting and conserving your money in total security , yet with the blockchain technology and the Ledgers all of this can be done without any need of any banks at all , yet the "banking system" is still there even if there's no bank at all . So like bill gates said in 1994 , we need banking systems but we don't really need banks and thanks to the blockchain technology such statement can turn into reality .
Banking is important as there is a proper security in that as compared to the wallets.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
Ofcourse banks are plays a vital role in every way we save our earnings. Bitcoin cannot be considered a bank because it is very volatile that it would be broke in any given moment.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
I believe yes , banks are known to be a best way for us to save and store our earnings and invest though we all know that we'll only get a small profit from it. Banks are well known than crypto currency and we can't deny the fact that it is still trusted by people around us.
Yes it is still important. Why? Simply becauae we cannot assure the security in the bitcoin a lot of wallet are hacked by other hackers who have the guts to have an instant money without any hardwork. For them they have the knowledge to have it in an instant why would they give a damn hardwork for it.
Entering bitcoin will give you instant big money depending upon the value but you cannot make it as a bank savings, you might regret it. If you already have profit you gain from the bitcoin you can cash out it and put it in the bank. It is more sure and safe to put it for lifetime instead of bitcoin.
If someday the volume of bitcoin transactions has reached more than 50% of all world transactions then we do not need banks, I think with bitcoin everything becomes easier and do not need the help of third parties like banks.
I think banking is still important even right now bitcoin is getting popular because banks has so many function in this wolrd so even bitcoin is supported by a lot of people banks will remain or will still exist in thjs world. Banks are still important for those that are unaware of cryptocurrencies. But for us who know bitcoin and other altcoins, we see banks as a big lie and a great deceiver. They aren't important to us anymore.
Our banking system is quite strong and that it is being controlled by the government and that there are so many people who trust this banking system. I don’t think so that there will come certain time when we will not be able to see this banking system because of the reason that there will remain so many people who will keep trusting the banking system and will never adopt to the crypto currencies. Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
The role of banks in the era of crypto-alaith does not diminish. Banks will carry out all the same important functions assigned to them by the state, and first of all, lending to the sectors of the country's economy. Therefore, no matter how one tries to minimize the role of banks, vseravno banks as existed, and will exist in the future. Crypto currency and banks will be forced to reconcile with the existence of each other and work together. 
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
I believe yes , banks are known to be a best way for us to save and store our earnings and invest though we all know that we'll only get a small profit from it. Banks are well known than crypto currency and we can't deny the fact that it is still trusted by people around us.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
I think the fact is bitcoin is only new currency which have no enough power to make bank dissapear. Although bitcoin bring a lot of benefits for us butthe scalability issue is still prevent all peiple to use bitcoin. Bank wil always needed since it's one of governments tools to make the economy of country more stable. Most of people in this world are still need bank to store their money and process their transactions.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
I think the fact is bitcoin is only new currency which have no enough power to make bank dissapear. Although bitcoin bring a lot of benefits for us butthe scalability issue is still prevent all peiple to use bitcoin. Bank wil always needed since it's one of governments tools to make the economy of country more stable. Most of people in this world are still need bank to store their money and process their transactions. 
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
Well, as new technology arises, we can say that banking is currently dying slowly. Bitcoin and other way of investment are improving and still innovating as time passes by. There's even a chance that the next generation wouldn't experience it anymore as it becomes extinct. We need to accept the fact that some things will be gone as the new ones show up and impress people. 
Of course bank is still important even if bitcoin is already here because bank is the main back bone of our economy and we cannot that switch right away no matter how good crypto is. And also in our country we still need banks whenever we convert our bitcoin into fiat this is where we deposits our fiat.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
yes of course the bank will still be very useful but I think only a few banks only because I see for sure as time goes by many customers who withdraw their assets in the bank and keep it in cryptocurrency because it proved more secure and can provide a lot of benefits.
Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
Of couse it is! Bank is important in our cryptocurrency. Cryptocurrencies can't make bank disappear because their will be imbalance in our economy. I am sure that banks will also use blockchain technology for them to improve the payment system.
For the last 500+ years Banking has been around. It's part of our western culture. It's kind of presumptuous to proclaim the end of Banking with the coming of Bitcoin.
I remember years back when i first discovered Bitcoin. I was a die-hard Bitcoin evangelist(i'm still one) who used to tell everybody that the end of Banking has come with Bitcoin. Here we are today with the little experience (It's a real hustle to keep ones bitcoin wallets secure and safe) that i've got with cryptocurrencies i prefer to admit that Banks are going to stay but banking as we knew it may change.
I'll like to have some part of my bitcoins or altcoins been "managed" by a bank that will keep the private keys and give me access to the public address only. I know that the Bank is insured in case of theft or hack of my wallets.
We can make the analogy with the era of Internet and TV or radio. At the dawn of Internet many proclaimed that TV and radio were over. Decades later they are still around but they've evolved to adapt in the current ecosystem.
That said, the Medici's style of banking may end in the Bitcoin era but Banks will still be around.
I remember years back when i first discovered Bitcoin. I was a die-hard Bitcoin evangelist(i'm still one) who used to tell everybody that the end of Banking has come with Bitcoin. Here we are today with the little experience (It's a real hustle to keep ones bitcoin wallets secure and safe) that i've got with cryptocurrencies i prefer to admit that Banks are going to stay but banking as we knew it may change.
I'll like to have some part of my bitcoins or altcoins been "managed" by a bank that will keep the private keys and give me access to the public address only. I know that the Bank is insured in case of theft or hack of my wallets.
We can make the analogy with the era of Internet and TV or radio. At the dawn of Internet many proclaimed that TV and radio were over. Decades later they are still around but they've evolved to adapt in the current ecosystem.
That said, the Medici's style of banking may end in the Bitcoin era but Banks will still be around.
of course, the bank has its own role in a country, its small example as a container for lending capital, other credits and as its, even though the development of crypto world is very rapid, but the bank has its own role, and they will not close the company, maybe later them will follow also the current development of the crypto world
Thats true, not every people who lives inhis planet were into Bitcoin and other alt coins, and Bank is a traditional way to invest and save your profit for security and if you have children for their future to be secured Bank will serve as you place to keep your money, and we cannot take away this to public since some of our people were working for them, cycle of life, and this makes the country's assests still protected for those who might steal it.
If someday the volume of bitcoin transactions has reached more than 50% of all world transactions then we do not need banks, I think with bitcoin everything becomes easier and do not need the help of third parties like banks.
with the fact that many countries still have not received bitcoin, of course banks are still important. the cost of living is still to be paid with fiat. the next question is: "Will bitcoin last long, when many banks start using blockchain?", nowadays blockchain is getting popular, some big banks have already adopted blockchain as their financial transaction technology. while most other banks are in the process of studying. trying to be able to adopt blockchain.
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