Even the big banks create their own blockchain they can't break bitcoin because bank's blockchain will be centralized which will go against the nature of blockchain. Blockchain technology is known as because it is decentralized and no one is involved as middle man.
That dosen't mean bitcoin will replace the big banks. Banks might adopt bitcoin if they choose to adopt becuse this will pave the way for a wider recognition of bitcoin.
Topic: What would happen to banks? - page 30. (Read 14001 times)
Banks will surely survive if crypto takes root worldwide. Banks have been around for a long time and I'm pretty sure it will be
around even more. If Crypto remains to be steadily volatile it's gonna have upsets and problems which is normal for any currency,
even fiats have that. Banks take advantage of situations like these, they thrive on financial and economic crisis. They're good
with that stuff. They can really adapt and improve at any given time, case and rate. Crypto is critically promising and it's a very
good thing but banks are still gonna dominate the bigger picture for the time being.
around even more. If Crypto remains to be steadily volatile it's gonna have upsets and problems which is normal for any currency,
even fiats have that. Banks take advantage of situations like these, they thrive on financial and economic crisis. They're good
with that stuff. They can really adapt and improve at any given time, case and rate. Crypto is critically promising and it's a very
good thing but banks are still gonna dominate the bigger picture for the time being.
your opinion is very precise
banks will never be silent because of this crypto system, they will try to survive or accept crypto and make their own coins according to the characteristics they want
banks will never be silent because of this crypto system, they will try to survive or accept crypto and make their own coins according to the characteristics they want
Banks will have to go obselete. We should get the ownership of our money back.
The mass doesn't care. If we look at crypto as a whole, then it's safe to say that the majority of the people use centralized services for storage and whatnot. People complain about banks and praise crypto for disconnecting them from banks, but they use crypto banks now, which is just as worse. On top of that, with how exchanges are crediting air drops and forks automatically, people don't even want to store their coins themselves. It's pure greed dictating the crypto space, which is as bad as it can get. From one central junkyard (banking system) to the other central junkyard (crypto banks) and it won't stop here. It's stupidity of the lowest levels....
I think that bank will continue to grow. It is hard to destroy the whole bank system when they are doing a great job on this plannet. I mean, there are many good banks around which can help us to secure our money and exchange our money from one to another. Therefore, I believe that bank will become stronger in the future. Perhaps, we can have decentralized bank someday
Remember that not everyone knows what is crypto currencies, so therefore there will still have people that will continue to use the banks and support it. Banks will never disappear if some people don't acknowledge the value of crypto currency, thus it will need a world wide debate and i'm sure no matter how long the debate banks would still stay and what would the government would do is to promote the crypto currency or left behind.
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
As far as I know some of the banks are afraid about cryptocurrencies because they can replace banks and there will be no need of existing of those, but some of the banks are just ignoring the fact of crypto. 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
cryptocurrencies won't make banks becomes obsolete. The awareness of the mainstream about how they all have been scammed all along by banks will surely make bank becomes obsolete.
I believe for now it won't obselete because some other people doesnt have an idea or knowledge about this technology. So they will still use banks which they think is easy to adapt. profits, we can't deny the fact that businessman always finds edge and opportunities.
cryptocurrencies won't make banks becomes obsolete. The awareness of the mainstream about how they all have been scammed all along by banks will surely make bank becomes obsolete.
I believe for now it won't obselete because some other people doesnt have an idea or knowledge about this technology. So they will still use banks which they think is easy to adapt. Banks will be very much around for a very long time to come. They will need to revamp their policies and procedures in line with decentralization when there is a massive acceptance to crypto coin by the mainstream society
Many private banks in my country have already started to do that. They are focusing more on user experiences and providing a lot of features to make their banking experience easier. That is the primary reason they are able to compete with government banks.
But regarding accepting crypto, that is not possible because they are also governed by same laws.
Banks will have to go obselete. We should get the ownership of our money back. Smart contracts will allow us to have all the advantage of the banks.
This time the bank is frozen, the market is not competitive with the crypto market, crypto code development is quite fast so banks are down.
Banks will be very much around for a very long time to come. They will need to revamp their policies and procedures in line with decentralization when there is a massive acceptance to crypto coin by the mainstream society
In every business it's the same. When new technology comes up the existing businesses will evolve or die. And obviously new businesses will also rise strong.
Same happened with mp3 and music industry...
this all happens if some countries try to set bitcoin and try to merge bank between bitcoin, hence there will be some advantage if both can work together well but if not then bank will be eliminated because some function of bank already exist in crypto and wallet even more secure and faster. Same happened with mp3 and music industry...
I think banks would still be, perhaps in our lifetime. Cryptocurrency are not that stable in terms of proper regulations by the governments. It would need a drastic moves from many countries to recognized bitcoin in all of its sense.
In any case, bitcoin is fully recognized and regulated, banks would still be there but adjusted on their functions.
In any case, bitcoin is fully recognized and regulated, banks would still be there but adjusted on their functions.
If in the banking sector the blockchain is implemented, then the labor of many employees will not be needed and they will be fired.
cryptocurrencies won't make banks becomes obsolete. The awareness of the mainstream about how they all have been scammed all along by banks will surely make bank becomes obsolete.
Bank will always survive, bank is the one that maintain the economic, the government will do whatever it takes to protect the bank, and crypto currencies wont be more superior than bank, when the government think cryptos can jeopardise the economics then the government will shut crypto down, so bank will always survive no matter how big crypto become
With banks, nothing will really happen in the era of the crypto currency. However, I do not agree with the fact that banks will provide all the services that they render in ordinary currency. I think that banks will never issue loans in the crypto currency and will not accept decentralized crypto currency for depositary storage because the crypto currency will be a very risky business for them. Bankers do not like to take risks. They will only provide services for exchanging crypto currency in fiat.
Some banks already used blockchain technology but really in a different way, I don't also see banks accepting cryptos from the depositor. Cryptocurrency will challenge the banks and for sure those big people behind Banks will make a move its either to adopt blockchain technology or to improve their services which is more possible to happen soon so they will still more profitable in the future. 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 think only someone without a good sense of reasoning would believe that bitcoin is meant to replace our main currency and take out banks. How can you bethinking that cryptocurrency is a better option than banks. Banks are very important to every country, if you don’t know why then you better go search up for banks and read the importance of banks to every community. They are very important, Bitcoin is good but it has its own purpose. 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
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