Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin make Banks disappear?
by
danherbias07
on 24/07/2016, 10:56:57 UTC
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?





Banks would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.
yes banks will never disappear. but i think bank and wallet will work together. they will be really helpful for each other. and may be banks become more prfitalbe once they accept bitcoin.

They will be the one profiting from all of this. So why not? If I am a bank owner I would consider accepting bitcoin in my company or some wallet that wants to connect with my bank.