Topic: What would happen to banks? - page 16. (Read 14006 times)

It is possible to happen if bitcoin will be have support and acceptance to all the people all over the world or maybe 50 to 75% of the population. But I think it will take a lot of time.

I think bitcoin will grow in the future, which means it will replace fiat. As such, banks are required to put crypto into their main fund, otherwise they will have to go bankrupt. The bank will change to accommodate changes in the market.

I think banks got disappear since bitcoin gives a lot of features and more benefits than banks. Cryptocurrency are mostly using sending money world wide without paying highly fee where banks applied highly tax and people afraid to paying it.

I think if you can use bitcoin to buy something in your real life, then you can do this. But if you cannot use bitcoin to do that thing, then how can you buy something? Do you use fiat or bitcoin to buy something for your daily life? It doesn't matter if you close all of your bank's accounts but the matter is how you convert your bitcoin to your local fiat if you don't have an account in the banks? Ok, maybe you can use your family bank account, so you can still use local fiat to buy something.

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.


1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners  would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.


2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.


3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.


4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.


As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.


1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners  would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.


2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.


3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.


4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.


As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

I always use banks for investment and saving money. banks can also be used to transact. saving is my asset for the future. Ripple has worked with many of the world's largest banks. I think blockchain technology will be used on the bank system in the future.

The bank will still exist, and people still choose the bank to save their money because so far, they don't have any problem with the banks itself. Although people and the government accepting cryptocurrency, the bank will give their services to all people, but there might be a new way for the banks to implement the blockchain to their system. And if the banks can collaborate with the blockchain, I think this will bring something new for the financial system because all the transaction recorded in the blockchain and the banks will be more secure.

The bank will still exist, and people still choose the bank to save their money because so far, they don't have any problem with the banks itself. Although people and the government accepting cryptocurrency, the bank will give their services to all people, but there might be a new way for the banks to implement the blockchain to their system. And if the banks can collaborate with the blockchain, I think this will bring something new for the financial system because all the transaction recorded in the blockchain and the banks will be more secure.

They will work like cold storage for cryptocurrency

in this case, bank is a partner of government, and i think the bank will always be there. although a new policy will emerge that regulates cryptocurrency. and at this time blockchain began to be implemented by banks

Yes, crypto and blockchains in particular will offer some tools that banks will use to offer or expand their services and only for certain customers (retail customers, I think).

well, of course they will still be popular. in the general public, of course the bank has always been the safest, and best, money store. so, I think that banks will always remain in use, even though cryptocurrency is becoming very popular.

Traditional banks will exist always, and soon many of the crypto banks will appear. People think that their money can be in safety if they are held in these institutions.