Will banks disappear because of cryptocurrency? - page 37.

ukw

sr. member

Activity: 616

Merit: 250

Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

I personally do not think the banking system can be destroyed so easily. And I do not think that will happen soon. Crypto currencies have a long way to go, as long as they can be matched with the big banking institutions.

Baekhyun

newbie

Activity: 105

Merit: 0

The bank will not collapse, the bank system strongly supports the economic system of a country and even many governments use banks as a means of procuring the economy such as employee salary payments, and other services. The government will continue to use the bank because the system is centralized and can be monitored, crypto domination will cooperate with the bank system in the future so a regulation is needed to regulate it all.

ubay

full member

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Merit: 101

I don't think that, banks and cryptocurrency will go hand in hand but still compete in technological developments, including many users, and financial security solutions. And for me, cryptocurrency is better than banks for now.

runor

jr. member

Activity: 150

Merit: 1

I think that the banks will soon go far into the past and give way to crypto currency!

whofeelsitknowsit

member

Activity: 294

Merit: 10

I am not of a mind that crypto and fiat are mutually exclusive, so I would say no.

bit..what?

jr. member

Activity: 294

Merit: 1

Banks will make sure they do not go down because of crypto currencies.
They earn too well and have too much money to be easily displaced.
I think rather, both systems will flow together and banks will also use crypto.

iAleff

jr. member

Activity: 70

Merit: 1

I think that a colapse come soon!!

longminh123

full member

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Merit: 100

Quote from: AzrailBogov on August 28, 2018, 09:58:37 AM

In general, of course, if the crypto currency was fully accepted by the legislations of different countries, then we would not need banks. Agree that this is a waste of time

I think it will take a long time for this to happen as most governments around the world have a very bad view of Cryptocurrency and see it as illegal to use them. I believe it may soon end soon as most of the investors are entering this market more and they are free to finance without any problems.

CLywaTeLb

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send and receive money instantly, no hidden costs

No one wants to lose a piece of meat without a fight. The best, mild scenario, this integration is crypto in the banking system. Will the cryptocurrency keep its qualities while doing this?

AzrailBogov

member

Activity: 350

Merit: 10

In general, of course, if the crypto currency was fully accepted by the legislations of different countries, then we would not need banks. Agree that this is a waste of time

Trainer75

newbie

Activity: 104

Merit: 0

I do not think so. Even if it happens, it will take years to happen. Recently people do not have a great belief in electronic money. So first it would have been the trust of the people. But one thing can be said. Everything can happen in this world

CAPTAINPLANET

newbie

Activity: 111

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Absolutely Not . Still many community yet to accept and believe in cryptocurrency, so disappear bank is not practical at all yes they will suffer for sure in near future because crypto.

vladuch1

full member

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Merit: 100

Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

I think that at the moment the banks do not disappear precisely because of the crypto currency, but in the future it is possible. People will simply do all the transactions without the participation of banks and banks will disappear

Mt. Dempo

jr. member

Activity: 294

Merit: 1

Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

I don't think so, but banks will consider partnering and maybe will build their own platform on blockchain technology.

KimJonnan

newbie

Activity: 91

Merit: 0

No, people need banks, and cryptocurrency is just a new type of coin. He also needs the bank to manage in the future.

klebsiella

full member

Activity: 392

Merit: 100

No, cryptos cannot make banks disappear. Although cryptocurrencies are gaining popularity across the globe, it is not acceptable globally. There are places that bans the use and transactions of these coins. And not all people have access to computers and the internet, meaning they don't know these coins exists. Fiat or paper money is what is being used worldwide, so banks are here to stay.

Boris_sahnevich

jr. member

Activity: 280

Merit: 1

At the moment, too much depends on banks, so I do not think it's easy to displace them or destroy their organization. Moreover, not all people are positive about crypto-currencies.

Jekbolt

member

Activity: 266

Merit: 20

Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

Banks will not collapse. Instead, they will be adopting blockchain technology to cut their costs and in order to survive.
Many fintech companies compete with banks by providing segmented services (for example micro transactions); so, banks have to change to stay on the market.

qidai9

newbie

Activity: 86

Merit: 0

No, when all people know the cryptocurrency, some people still choose the bank, because it should be the state. First, the state does not allow to lose its own interests. The second bank has always been the safest place to store itself.

Jenesis

newbie

Activity: 89

Merit: 0

Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

i think no, even though cryptocurrency is great and has a lot of interest, it will not destroy the banks that the government has trusted, and in the future they will cooperate, between crypto and the bank will establish cooperation, then the bank can launch crypto.

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