What would happen to banks? - page 8.

virendarnagpal

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Quote from: Pagri on June 16, 2019, 04:13:34 PM

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No, the disappearance of banks is impossible in any scenario. The banking system serves the economy of the state and therefore is an integral part of the state. Therefore, banks have nothing to fear. They will use the cryptocurrency as much as it will be profitable for them.

Though nothing is impossible; but it is true that we do not see an end to the Banking system in near future i.e. we may say for the coming 25-30 we do not see disappearing banks.
Also it is true that if the latest developments are accepted and adopted by the banks then there will be no fear for the existence of the Bank's existence even for 100 years to come.

BennyK

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Banks will eventually integrate crypto services into their activities as the people get to know more about crypto and its benefits to them and the economy at large. The power that crypto brings to the people give them the total control over their own financial transactions.

DreamStage

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If they would be able to exchange your coins much faster and providing you fiat immediatly on your hands even if they use some sort of investment tools and not ending as pronzi scheme i would accept it for sure.
They would also be more quicker in exchanging each currency into proper real fiat currency rather than an online exchanger since the banks have many currencies stored where online exchangers have some sort of limitations.

I do loved to read about the loans on different cryptos. That would certainly make Banks way better than anything online considering that there would not be scammers on this principle.

And about savings, yeah who doesn't want to feel safe, you would not even a 2fa or online authenticator to provide security for your own coins and money.
Banks are most trusted because of the security they have where there has not been such big money lost as currently online exchangers are showing way more.

MonaLeeTracy

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Quote from: reality18 on June 14, 2019, 10:29:40 PM

The fate of the banks is quite clear from the way cryptocurrency is emerging gradually. Cryptocurrency works in favor of the people and once the people get to know more about the benefits of cryptocurrency, its adoption will eventually increase. The banking services will be less patronized and this will force the banks to integrate cryptocurrency into their services in order to stay in the game of finance.

everything can happen, crypto currency is created by using technological developments and of course for the development of the era especially in the field of economics and of course banks will also try to develop along with the development of the times

Pagri

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Perhaps the disappearance of the banks would have been possible if the development of the bitcoin had happened as it was originally planned, where bitcoin users would base their economic exchanges on mutual trust, but at present big capital seems to have taken control of the market and they seem to have the power to move the bitcoin according to their interests, therefore sooner or later there will be a greater integration between the current banking system and the cryptocurrencies, as in fact it seems to be happening nowadays.

Godday

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Quote from: lovesybitz on June 15, 2019, 10:03:19 PM

I think banks will still exist, although there are some banks are accepting the system of blockchain technology in some other country.
Though, bank companies nowadays are supported by the government compared to cryptocurrency.

I strongly agree with what you say in your opinion the bank will still exist and many developing countries, of course, the banks in that country have no problems with the crypto currency that is officially used

sgenuine

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Quote from: costanos02 on June 15, 2019, 01:35:54 AM

Banks remain on top because majority of people invest in bank than cryptocurrencies, they prefer small or low amount in returns to their investment as long it is constant. Crypto is also good no question about it but some practical people do not like investing crypto because of its characterestics, cryptocurrencies price is not stable, as a result they have a doubt.

I support cryptocurrencies and use them but banks will always exist, you are right. Yes, they make money on their clients' investments, but they are pretty safe even in comparison with the best cryptos.

finaleshot2016

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Quote from: MidnightWolf on June 16, 2019, 09:34:47 AM

I think that the banking system and the state apparatus are a very strong adversary and therefore the cryptocurrency will not be able to defeat it. Today at stake is the question of the existence of cryptocurrencies only in the format of legalization. In this will take part in every state in the world. On this basis, it is possible to assume with accuracy what competition will be between the cryptocurrency and the banking system.

Definitely true, the banking system will have a development and will capable in touch with cryptocurrency soon. The cryptocurrency is still in a debatable situation and shouldn't chill out. Banks will exist until the end of the world I think? When a crisis comes and serious problems come out, cryptocurrency might fall.

MidnightWolf

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I think that the banking system and the state apparatus are a very strong adversary and therefore the cryptocurrency will not be able to defeat it. Today at stake is the question of the existence of cryptocurrencies only in the format of legalization. In this will take part in every state in the world. On this basis, it is possible to assume with accuracy what competition will be between the cryptocurrency and the banking system.

lovesybitz

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I think banks will still exist, although there are some banks are accepting the system of blockchain technology in some other country.
Though, bank companies nowadays are supported by the government compared to cryptocurrency.

rose9696

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Quote from: globalpain on June 15, 2019, 06:45:50 PM

the government will still validate the bank as a financial channel, crypto can be traded anywhere but this can be synchronized if the bank also requires active use of the wallet integrated with it. Many things will change and the government must be obliged to revolutionize the new system in front of their era.

I don't think they will need to adjust or revolutionize the new system. Because in the future, transactions between crypto and banks will soon be transparent and governments will be easier to control.
or if investors want to launder money in another way, I still think that governments cannot control that money because transactions are without intermediaries.

globalpain

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the government will still validate the bank as a financial channel, crypto can be traded anywhere but this can be synchronized if the bank also requires active use of the wallet integrated with it. Many things will change and the government must be obliged to revolutionize the new system in front of their era.

costanos02

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Banks remain on top because majority of people invest in bank than cryptocurrencies, they prefer small or low amount in returns to their investment as long it is constant. Crypto is also good no question about it but some practical people do not like investing crypto because of its characterestics, cryptocurrencies price is not stable, as a result they have a doubt.

reality18

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The fate of the banks is quite clear from the way cryptocurrency is emerging gradually. Cryptocurrency works in favor of the people and once the people get to know more about the benefits of cryptocurrency, its adoption will eventually increase. The banking services will be less patronized and this will force the banks to integrate cryptocurrency into their services in order to stay in the game of finance.

Wellyan

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Quote from: ToyotaFortuner on February 02, 2019, 04:08:54 AM

quite simply, if many people who begin to know the benefits of storing their assets in cryptocurrency can be safer, can be more profitable and can be saved without a monthly tax, it will make the bank afraid of losing its customers.

it might happen if the country legalizes crypto currency into a currency that can be used officially as the currency that applies if the country refuses to be sure the crypto currency cannot do anything

syamster

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Quote from: quality.crypto on June 14, 2019, 12:52:41 AM

Quote from: otong on June 13, 2019, 10:21:32 PM

Quote from: Adriano2010 on June 08, 2019, 01:15:30 PM

Nothing will happen, they will still work as always but only if governments will want to change something then yes something will change but until then nothing will happen.

banks and governments cannot be separated as possible as along with the development of the era and technology banks will also follow the system and the government will also support the development of banks in my opinion like that

Yes, you are right, now we have completely depended on technology in which many cases we are using technology-based equipment and in the same with the way, If they find potential in blockchain and it will really help the blockchain technology to Banks, then definitely governments and banks will implement those.

Yes it is modern age where almost everyone is depending on technology so we should try to involve yourself with these market changes, blockchain is huge name which is now valuable to store your investment, it is safe system which helps the investors and money keepers to keep their money away from hackers and scammers.

Rounaksarkar

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Yes, we get all these benefits from the bank but if we look at the other side of the bank, we will see that a customer gets a lot of benefits from a bank's CSP ID. For example, this AEPS Withdrawal, Account Opening, Recharge, Balance Inquiry, etc.

Mike Mayor

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Quote from: acroman08 on June 14, 2019, 06:21:30 AM

Quote from: otong on June 13, 2019, 10:21:32 PM

Quote from: Adriano2010 on June 08, 2019, 01:15:30 PM

Nothing will happen, they will still works as always but only if governments will want to change something then yes something will change but until then nothing will happen.

banks and governments cannot be separated as possible as along with the development of the era and technology banks will also follow the system and the government will also support the development of banks in my opinion like that

I agree, a new kind of bank might appear and caters to the needs of cryptocurrecy users. but these kind of banks will most likely be supervised by the government if they ever decided to operate. the government supervision is to regulate the incoming and outgoing transactions to prevent any unusual activities that might enter the country they are operating to.

This is exactly what I was thinking. It will just hand over power to the government. We should have privately owned and run decentralized banks. After all banks are used to protect/store our money.
I don't see why banks would use crypto since you are your own bank using it already. If it was because of earning interest or taking loans then it is a different story. THough that is the nature of how banking works anyway. I am saying it is only because of that reason (bank loans or interest earned) otherwise a bank wouldn't use crypto and people wouldn't either.

For crypto users, the only thing the bank can offer is interest on what they deposited. Crypto users don/t need a "safe" place to keep their money as you need with fiat.

XFlowZion

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There will be a sure massive layoff in the banking industry. I can compare to what is happening to videogames stores or toy stores is going to happen to bank. The leading toy store has already closed while popular videogames stores are losing more than 90% of their sales because of games going digital. A lot of people will choose to keep their crypto even banks offer good conditions in the future because we all know how banks are very smart on making charges on everything.

acroman08

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Quote from: otong on June 13, 2019, 10:21:32 PM

Quote from: Adriano2010 on June 08, 2019, 01:15:30 PM

Nothing will happen, they will still works as always but only if governments will want to change something then yes something will change but until then nothing will happen.

banks and governments cannot be separated as possible as along with the development of the era and technology banks will also follow the system and the government will also support the development of banks in my opinion like that

I agree, a new kind of bank might appear and caters to the needs of cryptocurrecy users. but these kind of banks will most likely be supervised by the government if they ever decided to operate. the government supervision is to regulate the incoming and outgoing transactions to prevent any unusual activities that might enter the country they are operating to.

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