Blockchain has multiple number of applications.if you compare with banks than blockchain can be technology which will be used in banks very soon because it provides security and transparency in the transaction held over network.
There is banks like Barclays working on blockchain implementation in the system
Topic: What's with all the comparison between blockchain and banks? - page 4. (Read 870 times)
No one's pitting the both systems against each other,they both perform similar/different purposes, it's just that what the banks are to fiat is exactly in one way or the other what the blockchain technology is to cryptocurrencies(bitcoin)
While banks store our money in their strong room,the blockchain keeps track of every transaction we carry out on this decentralized network,while wallets store our tokens/coins
What the blockchain brings to the party is more transparent and unalterable transactions,and it's one reasons people tend to tip the tech so high
Definitely the blockchain has come a long way in ten years,but no real cryptocurrency enthusiast truly believes it's better than banks or that there is a competition between them both..
The comparisons simply arise because of the seeming similarities between the both of'em,not cos of any competition of any sort
While banks store our money in their strong room,the blockchain keeps track of every transaction we carry out on this decentralized network,while wallets store our tokens/coins
What the blockchain brings to the party is more transparent and unalterable transactions,and it's one reasons people tend to tip the tech so high
Definitely the blockchain has come a long way in ten years,but no real cryptocurrency enthusiast truly believes it's better than banks or that there is a competition between them both..
The comparisons simply arise because of the seeming similarities between the both of'em,not cos of any competition of any sort
I agree. It's just I see this most of the time, as often as I see how crypto is superior over fiat. It gets tiring. But you're right. Maybe only a true cryptocurrency enthusiast would know and believe that blockchain is better than banks or vice versa.
Bank keeps money, makes transactions, blockchain keeps record of transactions - so, banks and blockchains are not rival, and Banks around the world are adopting or testing blockchain. Crypto is vast, there are Centralized and decentralized crypto. And by characteristics, decentralized crypto like BTC is the best form of money for the future and best tool to get beck your financial rights from central banking bullshits.
No one's pitting the both systems against each other,they both perform similar/different purposes, it's just that what the banks are to fiat is exactly in one way or the other what the blockchain technology is to cryptocurrencies(bitcoin)
While banks store our money in their strong room,the blockchain keeps track of every transaction we carry out on this decentralized network,while wallets store our tokens/coins
What the blockchain brings to the party is more transparent and unalterable transactions,and it's one reasons people tend to tip the tech so high
Definitely the blockchain has come a long way in ten years,but no real cryptocurrency enthusiast truly believes it's better than banks or that there is a competition between them both..
The comparisons simply arise because of the seeming similarities between the both of'em,not cos of any competition of any sort
While banks store our money in their strong room,the blockchain keeps track of every transaction we carry out on this decentralized network,while wallets store our tokens/coins
What the blockchain brings to the party is more transparent and unalterable transactions,and it's one reasons people tend to tip the tech so high
Definitely the blockchain has come a long way in ten years,but no real cryptocurrency enthusiast truly believes it's better than banks or that there is a competition between them both..
The comparisons simply arise because of the seeming similarities between the both of'em,not cos of any competition of any sort
I get it. Blockchain technology is a great invention and it's definitely a technological breakthrough. But do we really have to pit it against the banks and he traditional banking system? Couldn't those two live in peace without people having to choose one over the other? It's not like anyone has completely stopped putting their money on their bank accounts and invested it all in cryptocurrency. Is there anyone here that actually did this?
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