Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
I think banks will also join the blockchain system in their banks as I know banking is one way to store money but after the arrival of crypto I now people prefer to store their money in form of investment than storing money. I hope in a few years the entire banking system will start to adopt the blockchain system for making money storage its also helpful for the future of banks.
Topic: What would happen to banks? - page 2. (Read 13947 times)
Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
I think banks will also join the blockchain system in their banks as I know banking is one way to store money but after the arrival of crypto I now people prefer to store their money in form of investment than storing money. I hope in a few years the entire banking system will start to adopt the blockchain system for making money storage its also helpful for the future of banks.
In my own personal opinion, banks would never be obselete due to mass adoption of bitcoin because banks could be a good used to cryptocurrency someday that crypto users will start to store their own funds. Other reasons why banks will never be replaced is because the government are supporting banks and fiat over crypto, that is why banks will still exist for a long time.
Bank will never be replaced by something and the same us with crypto, They are both essential in our society! Banks are needed for a stable saving of money and cryptocurrency is for investment type of holding. What I know is if you hold fiat you are safe from a dump, and when you hold cryptocurrency you can have a profit, so why don't hold both for stable and balance asset. Banks and cryptocurrency are just fine in today's economy.Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
I think banks will also join the blockchain system in their banks as I know banking is one way to store money but after the arrival of crypto I now people prefer to store their money in form of investment than storing money. I hope in a few years the entire banking system will start to adopt the blockchain system for making money storage its also helpful for the future of banks.Saving in a bank will never be a loss, lol. Don't treat cryptocurrency as an ultimate currency, it's just a standard currency that has some excellent features. Saving in a bank is all good if you want to literally save your money and don't spend it, what's the loss in there? Hating banks because of cryptocurrency is purely a dumb thing.
Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
I think banks will also join the blockchain system in their banks as I know banking is one way to store money but after the arrival of crypto I now people prefer to store their money in form of investment than storing money. I hope in a few years the entire banking system will start to adopt the blockchain system for making money storage its also helpful for the future of banks.Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
I think banks will also join the blockchain system in their banks as I know banking is one way to store money but after the arrival of crypto I now people prefer to store their money in form of investment than storing money. I hope in a few years the entire banking system will start to adopt the blockchain system for making money storage its also helpful for the future of banks. 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
In principle, no one refuses to banks.Just basically all their functions are seen only in the issuance of prohibitively high loans with a very huge Commission.In principle, loans in cryptocurrency can already be obtained.I know one project from 2018.Many take loans it is here:https://coinmarketcap.com/currencies/moneytoken/ 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
In my own personal opinion, banks would never be obselete due to mass adoption of bitcoin because banks could be a good used to cryptocurrency someday that crypto users will start to store their own funds. Other reasons why banks will never be replaced is because the government are supporting banks and fiat over crypto, that is why banks will still exist for a long time.
Banks will never be obsolete, that is true, but not because of mass adoption of cryptocurrencies but because people will never stop to use fiat currencies.and economies will continue to depend on fiat currencies.
However, with time banks will get more.and more involved in crypto and they will start to offer crypto related services to their clients. But precondition for that is regulation of cryptocurrencies.
In my own personal opinion, banks would never be obselete due to mass adoption of bitcoin because banks could be a good used to cryptocurrency someday that crypto users will start to store their own funds. Other reasons why banks will never be replaced is because the government are supporting banks and fiat over crypto, that is why banks will still exist for a long time.
In my own personal opinion, banks would never be obselete due to mass adoption of bitcoin because banks could be a good used to cryptocurrency someday that crypto users will start to store their own funds. Other reasons why banks will never be replaced is because the government are supporting banks and fiat over crypto, that is why banks will still exist for a long time.
Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
The banking system will make changes according to technology and modernization and they will survive the test of time and there is nothing that is holding them back, the mistake everyone has is that they think the bitcoin market is a solution for everything, but it is not close to that and we just have a new market in the financial sector and every market will co exist and every market will change and modify with time and nothing will perish.
By all means, cryptocurrencies will be widely accepted and they will use them to put into their payment systems. But to do the things you listed above need a long process of change. It may take another 10-15 years for cryptocurrencies to become more popular to replace cash and certificates of deposit in banks.
Currently, institutional investors are actively investing in cryptocurrency funds. The Chinese state is creating their own cryptocurrency. Following the rules of development, other countries will develop cryptocurrencies according to China. This will be the inevitable trend and the banks will have to change accordingly to survive.
Currently, institutional investors are actively investing in cryptocurrency funds. The Chinese state is creating their own cryptocurrency. Following the rules of development, other countries will develop cryptocurrencies according to China. This will be the inevitable trend and the banks will have to change accordingly to survive.
Banks will add cryptos to the system, maybe they will even build their own app on blockchain system, everything will be changed, they either join or they perish.
It seems to me that over time, banks will simply work directly with cryptocurrency. Already today, many banks practice this. Depends on regulators. The faster cryptocurrencies approve, the faster banks will be able to process cryptocurrencies.
Of course, states cannot do without banks, so nothing will happen to them. They will work calmly as they worked before this time. Banks are already using blockchain technology in the form of a ripple network. Cooperation between banks and a decentralized cryptocurrency should be in any case and it is more profitable for cryptocurrency than banks. Very interesting review. Right as you explained here, banks will still be there later and most likely they will even use blockchain technology. But as a company they will still become banks as we have known so far.A company that has existed for generations from time to time, I think, will remain as long as it can provide benefits to many people
Bank still recommend saving money needed by every one although bitcoin have been popular and have higher price later, many service getting take with bank from loan money until people can save money safety in the bank, bitcoin and altcoin is not support for every one can build their business by loan with bitcoin and altcoin because not site support it and have risk with bitcoin loan when price up or down. 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
this is good news and very promising for Bitcoin in the future
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
Banks and cryptocurrencies will inevitably have to cooperate with each other. States need a banking system because they serve the economy of any state. Therefore, nothing will happen to her. Cryptocurrency has no other chance to survive in our world, except to cooperate with banks. I mean, first of all, the creation of single payment cards to pay for goods and services, the conversion of currencies into cryptocurrency and vice versa.
rellation between bank and cryptocurrenncg will create strong produc in our cryptocurrency market.anyone could access crypto with easier way.invstors and trader could make connection between cusstomer s account in echanges with bank accout,so they become feel comfort and less fee. . Bank will stay for long time and could not repalaced by crypro or anything. 
Banks and cryptocurrencies will inevitably have to cooperate with each other. States need a banking system because they serve the economy of any state. Therefore, nothing will happen to her. Cryptocurrency has no other chance to survive in our world, except to cooperate with banks. I mean, first of all, the creation of single payment cards to pay for goods and services, the conversion of currencies into cryptocurrency and vice versa.
It seems to me that over time, banks will simply work directly with cryptocurrency. Already today, many banks practice this. Depends on regulators. The faster cryptocurrencies approve, the faster banks will be able to process cryptocurrencies.
It is highly unlikely that any bank will be incorporating any crypto currency with their banking process but if they accept all the regulated exchanges to transfer money to and fro and if they allow that then that will be the greatest thing that these banking sector can do, for me it is not a big hurdle as many of the exchanges accept USD but that is not the case with the rest of the countries and hopefully that will change in the future. 
yes, I am also sure that banks will try their best to survive, for example cryptocurrency has been known to the public. but the question in me is whether people want to turn to the bank when they can store their assets safely. everyone who holds a crypto must have their own personal wallet, and I think their assets are safe even without a bank. the next reason, with banks innovating in order to survive by using crypto, on the other hand surely the bank will want its own benefits, there may be taxes or rules applied by the bank. and I think for a variety of reasons, someone might still not be interested in joining a bank if those people don't get more benefits from a bank. so my conclusion, in the future there will still be a bank, but people who are attracted to the bank will definitely decrease.
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