Will bank and crypto industry unite or be linked? - page 11.

kotajikikox

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Quote from: Mr.frost on July 19, 2018, 03:52:24 AM

If this will happen is it possible that decentralization be compromised?

Yup it's very possible decentralized cryptocurrency compromise to the bank of fiat money to become unite, actually there have some bank industry have an agreement because example on that how can convert my virtual currency into the bank if there's nothing agreement between the two kind of currency institutions.

Applechild

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That will make so many headlines in the news. But I don’t see it coming to pass. Crypto preaches decentralization more like a friend will say crypto is democratic. Power is not in the hand of one person but with the masses. Banks like to be in charge and control everything including how you will withdraw your own money, now willing that power out to merge or integrate decentralization system of blockchain into is impossible. That will mean a lot for them to handle especially not being in charge anymore. It also means individual staffs will begin to loss their jobs also being that a third party will not be needed for transactions to take effect. There is just to many things attached to such steps.

raven.tiu17

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We are United as one, Governments are controlling the mind of people if you're part of their legacy then follow them but if you're secretive person and wants privacy thrn go with anonymity or privacy. I'm pretty sure you are trying to escape centralization too.

Kersh768

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Quote from: Mr.frost on July 19, 2018, 03:52:24 AM

If this will happen is it possible that decentralization be compromised?

I doubt that it would be linked. Banks are the strongest establishment of every government on each country and given the nature of decentralization in cryptos, concepts are way different which would prohibit one another to be linked. i do more believe that banks and cryptos will do co-exist in thr future since we all have our own preference such that onr may not use crypto or vis-a-vis.

ityandsyn

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Quote from: Mr.frost on July 19, 2018, 03:52:24 AM

If this will happen is it possible that decentralization be compromised?

No this not possible for a decentralize cryptocurrencies to be integrated with our traditional bank because bank investors are very visible with the government agencies and also our accounts but in the cryptocurrencies , we are all anonymous here and our holding Coin are keeping in our wallet with no third person controlling and monitoring on it .

bling-bling

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I believe this road have already started. Numerous banks around the globe have already started to entertain or have accepted the crypto system in their field. As for decentralization being compromised, I wouldn't say it's impossible, but it would be pretty difficult for banks to break that crypto code.

passwordnow

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Quote from: veinspeak on September 08, 2018, 05:51:35 PM

i think they won't be united or linked, but there will be definitely a connection between the two

Have you heard of those news that there are some banks now that are operating with a crypto choice? I've heard that news since last year and I think they are operational.

The banking industry will find a way to link crypto's and their service because its still financial related but they have to adjust.

veinspeak

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i think they won't be united or linked, but there will be definitely a connection between the two

Fortified

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Quote from: Mr.frost on July 19, 2018, 03:52:24 AM

If this will happen is it possible that decentralization be compromised?

I think it is possible if the coin is under centralize in monitoring like ripple since all banks are under a government contol of law , and this era with so many country are adoptig and making their rules and regulations of cryptocurrencies , maybe plenty of centralize coin coming up.

qtronix

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I don't think that's possible. I agree with the opinion of people who write that the cryptocurrency was created in order to be decentralized. It opens up great opportunities for ordinary people. Anyone can use it and anyone can earn on it. Therefore, I believe that the majority will not want banks to somehow try to break this decentralization and anonymity that we have now.

Cryptomania098

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It's two different things. The might be linked or they might not be linked. If they are linked together, that means banks will be accepting cryptocurrency as a means of payment.

Aikidoka

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Quote from: molla_corda on September 05, 2018, 05:22:21 PM

It's already happening as far as I know. In fact, there are no other options, especially not yet visible, the world will not remain without cryptocurrencies exactly, as the world will not get rid of banks. So I think we are waiting for crypto banks very soon

It is actually happening in the countries that are accepting cryptocurrency. However, there are many countries which are opposing it. So, I believe banks would never tolerate getting linked with crypto. As a matter of fact, banks consider crypto to be a threat to the country's economy system. Getting them linked or united will bring chaos or downfall for banks because people will stop relying on banks and resort to the blockchain technology and store their money in there. But I really hope that those countries accept the blockchain technology.

m_f_o_c

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Certainly. I believe that this is the future. Moreover, RARIB, the Russian Association of cryptocurrencies and blockchain, has already been created, which is aimed at this, and European banks have already stated this goal.

MyCryptoCap

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W12 – Blockchain protocol

For merging banks, and cryptocurrencies need sufficient conditions. Now associations are not expected as each structure goes its own way.

cryptobiolog

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Many banks use cryptocurrencies and the blockchain system in their operations. Even Sberbank did not disdain and is actively implementing Ethereum in its operations.

jojovalentia

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I think banks would be force to work with cryptocurrency schemes, it seems like they will be submerged and will need to offers more diversed ideas in order to attract more people.

TRONTON

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Quote from: qolaqola on September 05, 2018, 05:50:12 PM

banks can use the tools of decentralization, but still leave a single control on their part. it's even easy to understand. in some processes, it should be centralization, for the distribution of responsibility for each business process

that's why people like blockhchain technology because there is no center that controls the system, everything is transparent and well-recorded so there won't be a capitalist case here all will be decentralized, that's what I know about blockchain which I think is very good to implement

qolaqola

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banks can use the tools of decentralization, but still leave a single control on their part. it's even easy to understand. in some processes, it should be centralization, for the distribution of responsibility for each business process

EvgeniyBH

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I am interesting what will be more popularity: the banks which will implement blockchain technology in its infrastructure or new ICOs which call themselves cryptobanks.

molla_corda

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It's already happening as far as I know. In fact, there are no other options, especially not yet visible, the world will not remain without cryptocurrencies exactly, as the world will not get rid of banks. So I think we are waiting for crypto banks very soon

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