Topic: Will blockchain kill traditional banking? - page 10. (Read 805 times)
I like to say that blockchain will not kill traditional banking but they will collaborating, traditional banking will innovating and adapt to financial technology, then they both collaborating to give best services.
I hope it would become a reality some day but it's not our near future. Banks have power to discredit cryptocurrencies to prevent their use.
Blockchain technology is more that cryptocurrencies. The tech in itself can be used for a variety of stuff, like transparent ledger and accounting. Thus, I think the banks and other financial institutions at some-point will have to embrace it, especially when clients are demanding more transparency for the monies.
A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
No traditional bank can't be killed by blockhain but simply surpass them.Goverments would not allow blockchain to replace banks.In the first place why should be this be ask,i think its better to ask that what if banks starts to use the blockchain technology. James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
I do not think that it would be possible to completely eliminate traditional banking, but blockchain will definitely change it. Banks will adopt blockchain technology for their own purposes, for example to speed up international transactions.
Of course, we are heading towards that era already. As blockchain based innovation continues to grow and expand, killing the traditional banking industry is not a huge task.
I think i will. Because we don`t need so many people working in banks when we can have one big robot called blockchain working for all those people. That`s silly.
In the near future, blockchain will not completely replace banks. Since many people and businesses continue to use banks. But it is important for banks to start using blockchain technologies in their activities, then they have a chance to stay. Their activities will be of course partially modernized and will change. To completely disclaim the banking system will take a long time - at least 10 years.
A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
Banks will never be eliminated to the equation of financial industry because it is a big business and started way back the ancient civilization. If you look at the bank history banks only evolve and adapting to the current people’s life. In this regards, it is very safe to say that banks will survive and will finds ways to outsmart the cryptocurrency.
I would like to say that I am waiting for a day when we will get rid of the traditional banking system and we all get synced in decentralized money management. Cryptos are gaining popularity and this is why most of the governments have started thinking how they can regulate it or bring it in use to further enhance their economy. After I was introduced to Crypto I just started hating banks more and more each day. The system that we all are using for years and years have so many flaws and only because there was no alternative, we just lived with it; but now things are changing and it is changing for good.
Soon everyone will be their own banker.
Continue to spread the word about Crypto to your family and friends.
Soon everyone will be their own banker.
Continue to spread the word about Crypto to your family and friends.
A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
In my opinion it might. That's why so many banks are afraid of bitcoin as their natural competitor. But quite few of them already started implementing blockchain and more will follow
A bunch of blockchain tech founders debate the question here: https://bitnewstoday.com/opinion/will-blockchain-kill-banks-or-financial-sector-can-use-this-technology-to-improve-its-efficiency/
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
James Song, founder of exsulcoin , is featured too. He's showing up everywhere these days.
Good read mate, but I think that banks, being a money and investment business entity, would not let that happen. Since many banks are also somehow connected and supported by their respective governments, it would not be easy for them to fall apart and close their business, especially the big ones. Therefore, what I am saying is that instead of being killed off, I think banks would shake their system and adjust to be able to make their business system jive and accommodate cryptocurrencies, knowing that it is a big business that they could score a lot of profit from, after all, like I said, banks are made to gain money and investments.
The traditional banking together with the financial system is a huge institution and in many ways it works rather inefficiently, but provide millions of employments. Banking industry is already adopting some of the blockchain technologies to improve efficiency, studying other for further use. Banks would likely to integrate blockchain technology to replace a certain operation to improve efficiency in a measured way. As most banks are more of a one stop platform, blockchain technology solution is more likely to work hand in hand with some of the traditional operation to provide a fast and humanly service to their customers.
I think no easy to do it, because not all people understand what is blockchain and cryptocurrency. Just like in my village, just me and 1 my friends who know about Bitcoin and others people here never heard about that and dont understand it. So traditional banking will still exist because alot of people does not know how Blockchain work.
I think it is entirely possible, if the bank didn't blockchain and bitcoin pay enough attention to, so in the next blockchain and the bitcoin is entirely possible to replace the bank, they can completely replace the bank in now.
This is could be happen in the future but at this times will hard that happen, because adoption of crypto still difficult for many people. Now just about 1% understanding how cryptocurrency work because any barrier of adoption. So need very long times for that.
I think not. Because traditional banking is more reliable banking to those people who want to deposit and withdraw money even the transaction within is more hazel and to slow. Traditional banking is much more safer than digital banking although digital banking is much faster and less hazel than traditional banking and even digital banking is much profitable than traditional.
No it will kill but it will take more time than we are expecting. Because the basic infrastructure for all the people around the world to adopt bitcoin or any other crypto currency might need more time to get setup. Until then we cannot expect our blockchain technology will be killing traditional banking system. But it will happen one day are other as the entire world is moving towards newer technology which will be making life more convenient and supporting people for their time saving.If you look around the world people are switching over to smart phone with high-speed data connectivity which are the basic requirement for anyone to switch over to crypto based banking system. Surprisingly it is already happening in many part of the world and I do see it is the first step for killing traditional banking system.
I think not. Because traditional banking is more reliable banking to those people who want to deposit and withdraw money even the transaction within is more hazel and to slow. Traditional banking is much more safer than digital banking although digital banking is much faster and less hazel than traditional banking and even digital banking is much profitable than traditional.
Traditional banks will embrace blockchain technology, in fact, they are doing now. Banks will not dissapear, but people will have the ability to be less dependent on banks
Yeah I doubt they'd disappear as well. If anything, they'd probably try and adapt to blockchain tech and try to give crypto loans or something like that.
Quote
Will blockchain kill traditional banking?
Yes, eventually no need for the central dangerous money graping middle man. Anyone can be paid get a loan or sent money with proper blockchain tech. Jump to: