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Bitcoin Discussion
Re: Can Bitcoin make Banks disappear?
by
Ashong Salonga
on
09/05/2017, 07:02:35 UTC
Quote from: BTCBinary on January 12, 2016, 02:40:58 AM
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?
Actually, bitcoin can not make banks disappear as it is the primary material to convert your bitcoin/fiat money vice versa. Also, bitcoin also needs bank thus, disappearing of banks won't happen wether the fiat are a bout to dicrease its volume.