Future of Banks?

[Ravenfreak]

I'm already seeing my own personal bank being affected by online banking in general, the location near my house shut down. With how much cryptocurrency has been booming I can see banks ceasing to exist in the future. Maybe not too soon, but I'm thinking more along the lines of 20 years. Though if this is the case, I have a feeling that cryptocurrency will be more easily tractable, and thus if banks are still around in the future they'll just control cryptocurrency.

 

[Sotherefore]

The bank will still be in existence afterall we will not be using cryptocurrency for carrying out most of the transaction available. I believe even in the near future you will still need some sort of physical currency to do one or two things.

 

[Good-Person]

The bank will still be in existence afterall we will not be using cryptocurrency for carrying out most of the transaction available. I believe even in the near future you will still need some sort of physical currency to do one or two things.

I guess that in the future, cryptocurrencies will become a really big part of the global banking system. In fact, even now cryptocurrencies are now used by many banks.

 

[Sotherefore]

I guess that in the future, cryptocurrencies will become a really big part of the global banking system. In fact, even now cryptocurrencies are now used by many banks.

That may be possible in the future , do you really think that cryptocurrency becoming a very big part of global banking will really effects commercial banks and make it not to exist ? For me I believe offline bank will still be in existence.

 

[Good-Person]

That may be possible in the future , do you really think that cryptocurrency becoming a very big part of global banking will really effects commercial banks and make it not to exist ? For me I believe offline bank will still be in existence.

I do not think that banks will cease to exist because cryptocurrencies cannot be used all the time. For example, you cannot issue a letter of credit using the cryptocurrency blockchain.

 

[Sotherefore]

I do not think that banks will cease to exist because cryptocurrencies cannot be used all the time. For example, you cannot issue a letter of credit using the cryptocurrency blockchain.

Well a lot of people are underestimating the invention of cryptocurrency. The blockchain technology can be used in so many other ways apart from cryptocurrencies. I may never be surprised if this takes places. Just that to convert it to physical cash will require you to work through the bank

 

[Good-Person]

Well a lot of people are underestimating the invention of cryptocurrency. The blockchain technology can be used in so many other ways apart from cryptocurrencies. I may never be surprised if this takes places. Just that to convert it to physical cash will require you to work through the bank

I guess that cryptocurrencies is one of those few assets that have been gaining so much popularity despite being banned in so many countries. In the end, banks might be forced to accept them.

 

[Sotherefore]

I guess that cryptocurrencies is one of those few assets that have been gaining so much popularity despite being banned in so many countries. In the end, banks might be forced to accept them.

The bank will not really have any problem with cryptocurrency. People that will be having problem with cryptocurrency is the federal Government because when they banned cryptocurrency the bank will not accept it .

 

[Good-Person]

The bank will not really have any problem with cryptocurrency. People that will be having problem with cryptocurrency is the federal Government because when they banned cryptocurrency the bank will not accept it .

I can see that many banks are indeed having problems with cryptocurrencies right now. For example, the Central Bank of Nigeria is having issues and the Russian bank also had problems with cryptocurrencies.

 

[Sotherefore]

I can see that many banks are indeed having problems with cryptocurrencies right now. For example, the Central Bank of Nigeria is having issues and the Russian bank also had problems with cryptocurrencies.

Yes but that can never be an hindrances to the progress of cryptocurrency because no matter how they are trying to dissociate from cryptocurrency there will definitely be a way people will always withdraw to their Bank.

 

[Bookwormlux1]

Nothing can replace banks at all. The only thing is the fact that they are not going to be needing lots of staff members like it used to be the case in the past. Technological advances would make it fine .

 

[Smiles20]

I believe that traditional banks are going to be around for a long time just like the way they have been. They might just change in the way in which they operate but they are not going to fade away.

 

[Good-Person]

Nothing can replace banks at all. The only thing is the fact that they are not going to be needing lots of staff members like it used to be the case in the past. Technological advances would make it fine .

The banks cannot be replaces because the entire financial structure and system depends heavily on banks. Banks are connected to central bank of a country and this is how they run the economy.

 

[Laurentta]

I doubt banks would be eradicated in the nearest future. Even if crypto currency growth becomes outrageous, not all countries would still accept it and banks have to be around in those countries that won't accept crypto currencies.

 

[Yohanna]

The Interest that been charged by the banks is on the increase coupled with the incessant complain with the banks services. People are beginning to see the use of the decentralised system and it may likely affect the future of the banks.

It is true because so many people would keep converting the fiat currency to a cryptocurrency just to safeguard their money and also to reduce the inflation rate that is affecting fiat currency.

 

[Ononivami1]

It is true because so many people would keep converting the fiat currency to a cryptocurrency just to safeguard their money and also to reduce the inflation rate that is affecting fiat currency.

If people started to use cryptocurrency the more, it will have an adverse effect on the banks because there will be less money available in the bank when people are trying to convert the fiat currency into cryptourrency.

 

[Setho]

People are beginning to become increasingly aware about the kind of data in which companies hold and that enough is okay to sink banks but I do not think they are going to disappear completely.

 

[Smiles20]

It is completely nice to see that in the future you are the one that is going to be in control of everything. I still do not in the traditional banks are going to be going anywhere at least not in the near future.

 

[Yohanna]

If people started to use cryptocurrency the more, it will have an adverse effect on the banks because there will be less money available in the bank when people are trying to convert the fiat currency into cryptourrency.

It is definitely what is going to happen in the future because the cryptocurrency has a lot of promising moves, most especially the Bitcoin could reach $1,000000 in the future.

 

[Ononivami1]

It is definitely what is going to happen in the future because the cryptocurrency has a lot of promising moves, most especially the Bitcoin could reach $1,000000 in the future.

I believe in your statement because by the time all the bitcoin is mined in 2140, it will become a very scarce commodity and the price will keep increasing on a daily basis and it may even hit 5 million dollars per coin.