Topic: The future of banking industry in blockchain - page 2. (Read 2842 times)
Mobile banking will become much more important in the future. Bitcoin is reaching everyone's cell phone. But many people in the world still don't have bank accounts. There will be a new situation. I don't think bankers will miss this.
actually not just small banks. any bank, we need to know that the Bank is under the authority of the government also so if you want to implement a system it needs approval from the governments of each country I guess. Indeed in some countries already have implemented a Blockchain system to support their financial industry, but it does require a lot of consideration by comparing the positive and negative benefits
Banks can invest in blockchain. But they need more time. The current order was established in almost 150 years. I don't think they will be very enthusiastic about a new economic model or a transfer model. Maybe they'il have to change.
The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
Well, they can still use the blockchain technology without favoring it. It is a technology that I don't think everyone will just let it pass. This will develop the banking system and some say other crypto currencies might not stay the same as its technology. I don't know what might happen but all I can see is that blockchain being used not only in crypto currencies but also in other things.
Banks are already working in hand with crypto companies as we speak right now.
For example, in my country ripple is working with two banks to help them get their transactions faster and cheaper.
Yes, I don't like ripple but that means banks that are working with ripple are looking into crypto and if they succeed and get better deals thanks to ripple they may also start to hire more blockchain developers themselves and move into in-house system which would be awesome.
Banks will not become blockchain based over night, that could never happen, these are trillion dollar goliaths that are super high end, it will take years before they could even slightly alter anything, even digital banking took over 10 years to reach where it is right now and we still have a long way to go, but as long as it is in the path right now that means we will get there eventually.
For example, in my country ripple is working with two banks to help them get their transactions faster and cheaper.
Yes, I don't like ripple but that means banks that are working with ripple are looking into crypto and if they succeed and get better deals thanks to ripple they may also start to hire more blockchain developers themselves and move into in-house system which would be awesome.
Banks will not become blockchain based over night, that could never happen, these are trillion dollar goliaths that are super high end, it will take years before they could even slightly alter anything, even digital banking took over 10 years to reach where it is right now and we still have a long way to go, but as long as it is in the path right now that means we will get there eventually.
What does Bitcoin mean for the banking system? Now let's examine the situation. Will banks be the means to buy bitcoins? Will banks create a new transfer system integrated with blockchain? That's the whole problem. The change of the current approval system is difficult in the near future.
Banks are doing pretty good with there current infrastructure. They may opt for private blockchain in future if they think that's a good replacement. But we cant say that blockchain is future for banking industry.
The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
Well, they can still use the blockchain technology without favoring it. It is a technology that I don't think everyone will just let it pass. This will develop the banking system and some say other crypto currencies might not stay the same as its technology. I don't know what might happen but all I can see is that blockchain being used not only in crypto currencies but also in other things.
yes banks in my country have also started to be interested in using blockchain technology in their banking systems. by using blockchain technology, operational costs will be cheaper and currently most bank customers are already using digital services in conducting transactions they don't need to come to the bank using only their mobile phones to be able to do transactions. so with the adoption of the blockchain this digital service will get better. and it may take a long time for small banks to adopt blockchain because they do not have enough capital to install blockchain technology.
The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
Well, they can still use the blockchain technology without favoring it. It is a technology that I don't think everyone will just let it pass. This will develop the banking system and some say other crypto currencies might not stay the same as its technology. I don't know what might happen but all I can see is that blockchain being used not only in crypto currencies but also in other things.
The blockchain is more a buzzword that companies use to attract capital than it is something that enjoys much real world use.
Haha, it's true. Use the "Blockchain" word that will help any project create an attraction for the investor - one of the best ways for start-up today. 
Even the World Bank and famous agencies that apparently work for the welfare of people are not always and totally involved in the charity cause. They have their own political and economical causes and concerns. Same is the case with banks. Banks are there to in some cases help out poor instead they still look for their benefits in such activities. This is the reason why they fear cryptos because crypto will not let them control money.
Well they should be fear at all, banks are the most greedy company we really have in our life, they are just after what they can have for you, they are not really helping the commmunity, everything about them is all about the money and for their own interest and just giving a very low interest rate for entrusting your money to them.
The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
Well, they can still use the blockchain technology without favoring it. It is a technology that I don't think everyone will just let it pass. This will develop the banking system and some say other crypto currencies might not stay the same as its technology. I don't know what might happen but all I can see is that blockchain being used not only in crypto currencies but also in other things.
Hey.
Yesterday I read an article about banks that began to use blockchain and there was pretty impressive list.
They're also described successful cases of using blockchain in banks (if you're interested - here's the article), so I may assume that using blockchain in bank's system is only a matter of time (and money, of course).
Now, the question: why it takes THAT long the smaller banks to go the same way and start using the blockchain?
Yesterday I read an article about banks that began to use blockchain and there was pretty impressive list.
They're also described successful cases of using blockchain in banks (if you're interested - here's the article), so I may assume that using blockchain in bank's system is only a matter of time (and money, of course).
Now, the question: why it takes THAT long the smaller banks to go the same way and start using the blockchain?
I want to bring to your notice that Banks kicking against Cryptocurrency doesn't mean that they don't want to employ other blockchain Technologies. There is a lot of benefits from Blockchain which will help banks become more efficient in meeting the needs of their customers.
This is not about the laws this is about their inability to compete with cryptocurrencies, even if banks decide to create their own coin it will have all the very same weaknesses that fiat currencies already have because it is on their best interests that their coins have such weaknesses, so they cannot really create something better than bitcoin and if they did then they will only be helping their own demise, they are trapped and they know it, there is no way out of this situation in which things remains as they are, they will have to adapt and they do not like that one bit.
I am pretty sure that even if banks launch currencies, no one will adopt them. Even the World Bank and famous agencies that apparently work for the welfare of people are not always and totally involved in the charity cause. They have their own political and economical causes and concerns. Same is the case with banks. Banks are there to in some cases help out poor instead they still look for their benefits in such activities. This is the reason why they fear cryptos because crypto will not let them control money.
Well they should be fear at all, banks are the most greedy company we really have in our life, they are just after what they can have for you, they are not really helping the commmunity, everything about them is all about the money and for their own interest and just giving a very low interest rate for entrusting your money to them.
Even the World Bank and famous agencies that apparently work for the welfare of people are not always and totally involved in the charity cause. They have their own political and economical causes and concerns. Same is the case with banks. Banks are there to in some cases help out poor instead they still look for their benefits in such activities. This is the reason why they fear cryptos because crypto will not let them control money.
Well they should be fear at all, banks are the most greedy company we really have in our life, they are just after what they can have for you, they are not really helping the commmunity, everything about them is all about the money and for their own interest and just giving a very low interest rate for entrusting your money to them.
The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
This is not about the laws this is about their inability to compete with cryptocurrencies, even if banks decide to create their own coin it will have all the very same weaknesses that fiat currencies already have because it is on their best interests that their coins have such weaknesses, so they cannot really create something better than bitcoin and if they did then they will only be helping their own demise, they are trapped and they know it, there is no way out of this situation in which things remains as they are, they will have to adapt and they do not like that one bit.The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
This is not about the laws this is about their inability to compete with cryptocurrencies, even if banks decide to create their own coin it will have all the very same weaknesses that fiat currencies already have because it is on their best interests that their coins have such weaknesses, so they cannot really create something better than bitcoin and if they did then they will only be helping their own demise, they are trapped and they know it, there is no way out of this situation in which things remains as they are, they will have to adapt and they do not like that one bit. The banking sector does not want to play those games where they do not know the rules. And blockchain with cryptocurrencies is such a field of the game. If the government makes laws in favor of digital assets, then both business and banks will be able to more boldly introduce new technologies
Small banks have a smaller resource, but I think, given what blockchain technologies can give them advantages, the average business will also be aimed at adaptation. But the biggest problem so far is the unpreparedness of people, including bank personnel. About 30 percent of bank employees somehow understand and understand the blockchain and cryptoBanks are not into existing cryptocurrencies that is for sure. Banks are the number one enemy of decentralized currency why would they adopt it? and talking the volatility of cryptocurrencies, banks having an uncertain edge will never be in place. New stable coins will be created for them, a well regulated and backed coins.
Why would the banking system consider the decentralized currency an enemy,they will be getting business from exchanges because if you want to purchase these currency you need the help of the banking system to send money and that means the banking system will get business and all they will be looking forward is business and if there is a clear regulation by a government then i bet the banking sector will not have any issue dealing with the crypto exchange.Jump to: