Topic: What would happen to banks? - page 19. (Read 14006 times)

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

Crypto  must secure low volatility to got massive adoption.  Without volatility people risk to much.  In my signature is good project who offer debit card which cant be baned,  but just good and real product is not enough.  They need low volatility.  No way any coin can change fiat before reach price stability

Yes you are right, cryptocurrency is really a good investment but it will not kill fiat so it only means that banks will last which is a good news for people who is not able to invest on cryptocurrency.

it is true that your opinion, the bank must give in otherwise it will be only passive, although it certainly will not happen with the impact of so much but can be predicted roughly when the form of investment also savings will prefer crypto as an alternative, can be predicted in the future when the function of banks is reduced much in the crypto community in addition to the circulation of money and the place of borrowing money or credit and I think no more than that, and predictable the existence of banks will be less and more reduced, but the economic turnaround that occurs in the community will continue to run without impact lethargic by the practice of digital transactions, may be useful and successful for all of us

As long as governments exist banks will continue to exist as well because bank is the means in which governments carryout their dirty deals which will not be possible through crypto

I think very great and helpful if banks will realize the importance of cryptocurrency and perhaps enter into crypto. They can provide their usual services to customers and also provide services in cryptocurrencies, such as investment, savings and loans, shares buying with crypto, and a lot.

I have a version where in the future, countries will create their own crypto (if they did not go with bitcoin) to replace their own currencies and banks will be the main miners. They will have the money to create very huge mining farms all over the world.

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

It has a huge impact on banks and their revenues are significantly affected, banks will find ways to prevent this from happening. A battle between the crypto and the bank will occur.

If the crypto market develops strongly, there will be a big impact on the bank. Banks will not be able to collect fees when they transfer money overseas to different countries.