What will happen to the banks if people uses cryptocurrencies more than fiat? - page 16.

davis196

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Quote from: bei on January 04, 2018, 06:13:46 AM

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

What will happen?I would say... nothing.The banks will adopt blockchain technology and start using and accepting cryptocurrencies.Unfortunately we still need banks,because we need institutions that accumulate deposits and give loans to eligible business owners and ordinary people.We still can`t automate this process.
Perhaps in the future,we could create a smart contract based system that will work as a crypto bank.

Godric-Gryffindor

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Probably they'll seek a better option in order to continue, we really don't need banks and in fact Street Cleaners are the one more deserve to have a higher salary according to economics evolution website Evonomics

Don Pedro Dinero

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The first decentralized crypto betting platform

If that ends up happening, it won’t happen overnight, so they will make some changes to try to adapt to the new situation but whether they will succeed is another story. They are already implementing changes, with fewer branches, fewer employees and more features for clients to make their operations online.

I think in the future, bitcoin and some other cryptos will co-exist with fiat currencies, so banks will have a place but I think their importance will be reduced.

Andrej Peiboski

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Nobody knows exactly what can happen. I think that at present banks (and authority, generally speaking) haven't still realized what kind of revolution cryptocurrency represents. We'll see.

bei

newbie

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If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Topic: What will happen to the banks if people uses cryptocurrencies more than fiat? - page 16. (Read 1244 times)